I open a new position to my portfolio with the purchase of Simon Property Group (SPG)
16 shares @ $153.90 on 11/04/2019.
This increases my forward 12-month dividend income by $134.40 to a total of $9,766.12. I also updated my portfolio page to reflect the change.
My Thoughts
Ellery this month I bought more shares of Simon Property Group. I bought SPG on the 2nd of October. The stock price went up a little since then, but the company is undervalued and high quality.
Like I mentioned in that post, this is the 5th REIT that I own, and I have been very happy with three of the four thus far. SKT is in the negative but it is still extremely undervalued. However, I do plan to add one more of SKT stock soon. Maybe just one lot buy.
Simon Property Group currently has a dividend payout ratio of 70%. This has been about the average for the past 5-years.
Another metric to look at is the company 5-year dividend yield average of 3.7%. Currently, the company has a dividend yield of 5.60%. This is over 190 basis points vs its 5-year average.
With all that said, I find SPG to be undervalued, and I recommend it as a BUY at this time. I have a fair value price of $181.32. This means that SPG is 23.17% undervalued based on today’s price of $147.11 (11/21/2019).
Source: Fastgraphs.com
What do you think about the company? Plan on owning it or already do? or why not?
Thanks for reading, and don’t forget to connect with me through Facebook and Twitter to see my latest buys.
Image by Sira Anamwong at FreeDigitalPhotos.net
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