Tennessee Valley Asset Management Partners Buys New Shares in Simon Property Group, Inc. (NYSE:SPG)

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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cascade Investment Group Inc. raised its holdings in shares of Simon Property Group by 0.5% in the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after acquiring an additional 80 shares during the last quarter. Salem Investment Counselors Inc. grew its position in Simon Property Group by 16.6% in the 4th quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 80 shares in the last quarter. Schechter Investment Advisors LLC grew its position in Simon Property Group by 2.4% in the 4th quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 81 shares in the last quarter. Evergreen Capital Management LLC grew its position in Simon Property Group by 1.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust’s stock worth $495,000 after purchasing an additional 85 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Simon Property Group by 0.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,600 shares of the real estate investment trust’s stock worth $1,369,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPG. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Evercore ISI upped their price objective on shares of 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. Morgan Stanley upped their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Truist Financial increased their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Stock Up 1.0 %

Simon Property Group stock opened at $143.78 on Wednesday. The firm has a 50 day moving average price of $149.30 and a 200-day moving average price of $136.47. The company has a market capitalization of $46.86 billion, a P/E ratio of 20.60, a P/E/G ratio of 7.37 and a beta of 1.65. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month 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 quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing the consensus estimate of $3.34 by ($1.05). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $3.15 earnings per share. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $1.95 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.42%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

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