Yousif Capital Management LLC Decreases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Yousif Capital Management LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.2% in the fourth quarter, HoldingsChannel reports. The fund owned 56,827 shares of the real estate investment trust’s stock after selling 2,474 shares during the quarter. Yousif Capital Management LLC’s holdings in Simon Property Group were worth $8,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SPG. Arlington Trust Co LLC purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at $25,000. DT Investment Partners LLC raised its holdings in shares of Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Selway Asset Management purchased a new position in shares of Simon Property Group in the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Simon Property Group in the 3rd quarter worth $33,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Simon Property Group in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SPG shares. Evercore ISI raised their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Truist Financial raised their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, Morgan Stanley lifted their price objective 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Stock Down 0.7 %

SPG opened at $142.81 on Thursday. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The company has a fifty day moving average of $149.30 and a two-hundred day moving average of $136.51. The stock has a market capitalization 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 (NYSE:SPG) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $3.15 EPS. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Simon Property Group announced that its Board of Directors has approved a stock repurchase program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

About Simon Property Group

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.