TCW Group Inc. Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

TCW Group Inc. increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,026 shares of the real estate investment trust’s stock after purchasing an additional 20,215 shares during the period. TCW Group Inc. owned 0.12% of Simon Property Group worth $67,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC lifted its holdings in Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the period. Groupama Asset Managment lifted its holdings in shares of Simon Property Group by 0.9% in the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock worth $1,305,000 after purchasing an additional 67 shares during the last quarter. Augustine Asset Management Inc. boosted its position in Simon Property Group by 3.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 68 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after purchasing an additional 68 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 1.6 %

Shares of NYSE:SPG opened at $179.19 on Wednesday. The stock has a market capitalization of $58.47 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $132.24 and a 1-year high of $186.00. The company has a 50 day moving average price of $175.92 and a 200 day moving average price of $162.93. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business posted $3.20 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 109.19%.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, Scotiabank upped their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.44.

Simon Property Group 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.