Tennessee Valley Asset Management Partners Invests $46,000 in Simon Property Group, Inc. (NYSE:SPG)

Tennessee Valley Asset Management Partners bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 321 shares of the real estate investment trust’s stock, valued at approximately $46,000.

Several other hedge funds have also recently modified their holdings of SPG. Arlington Trust Co LLC purchased a new position in shares of Simon Property Group in the third quarter worth $25,000. DT Investment Partners LLC raised its stake in Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Selway Asset Management bought a new position in Simon Property Group during the third quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Simon Property Group during the third quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Simon Property Group during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.0 %

SPG stock opened at $143.78 on Wednesday. The company has a market capitalization of $46.86 billion, a PE ratio of 20.60, a P/E/G ratio of 7.37 and a beta of 1.65. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The firm’s 50-day moving average is $149.30 and its 200 day moving average is $136.47. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77.

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

Simon Property Group declared that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Increases Dividend

The company 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 of this dividend was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.42%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is presently 111.75%.

Analysts Set New Price Targets

Several research firms have commented on SPG. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley increased their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Evercore ISI increased their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.