- Shares of SPG have declined more than their respective peer group, SPY and VNQ, indicating that they may be oversold.
- SPG trades at a 9.69x Price to FFO which is the lowest in its peer group which supports the idea shares are trading at oversold levels.
- The Board of Directors has approved a $2 billion share buyback program and feels SPG should trade near its historical average of 15x FFO.
- SPG is now paying $6.80 per share and its yield is 5.98% which is fully supported by a 1.73x FFO coverage ratio.
For further details see:
Simon Property Group: The 29.05% YTD Decline Has Pushed Its Yield To 5.98%