Yoffe Investment Management LLC Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Yoffe Investment Management LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,383 shares of the real estate investment trust's stock, valued at approximately $583,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the 4th quarter worth about $28,000. WR Wealth Planners LLC grew its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at approximately $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group in the 4th quarter valued at approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.2%

NYSE SPG traded down $0.25 on Friday, hitting $162.98. 3,546,174 shares of the stock were exchanged, compared to its average volume of 1,556,975. The firm has a market capitalization of $53.20 billion, a P/E ratio of 22.45, a P/E/G ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a fifty day moving average price of $157.36 and a two-hundred day moving average price of $169.93.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $3.56 EPS. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.15%. Simon Property Group's payout ratio is currently 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research reports. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Scotiabank lowered their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler reduced their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Stifel Nicolaus increased their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $179.20.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.