Yousif Capital Management LLC Sells 2,474 Shares of Simon Property Group, Inc. (NYSE:SPG)

Yousif Capital Management LLC lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,827 shares of the real estate investment trust’s stock after selling 2,474 shares during the period. Yousif Capital Management LLC’s holdings in Simon Property Group were worth $8,106,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. DT Investment Partners LLC increased its holdings in shares of Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Arlington Trust Co LLC bought a new stake in Simon Property Group in the 3rd quarter worth about $25,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Simon Property Group in the fourth quarter worth approximately $34,000. Selway Asset Management purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $26,000. Finally, Bruce G. Allen Investments LLC bought a new position in Simon Property Group during the fourth quarter valued at approximately $41,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $142.81 on Thursday. The business has a 50-day simple moving average of $149.30 and a two-hundred day simple moving average of $136.51. The stock has a market cap of $46.54 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 7.54 and a beta of 1.65. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.15 earnings per share. On average, analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group announced that its board has initiated a stock repurchase program on Thursday, February 8th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date was Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio is presently 111.75%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPG. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI raised their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Truist Financial boosted their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley boosted their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.