TTP Investments Inc. Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

TTP Investments Inc. lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 67.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,399 shares of the real estate investment trust’s stock after buying an additional 23,109 shares during the period. Simon Property Group makes up approximately 3.5% of TTP Investments Inc.’s investment portfolio, making the stock its 8th biggest position. TTP Investments Inc.’s holdings in Simon Property Group were worth $9,885,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after acquiring an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after purchasing an additional 887,356 shares during the last quarter. Hamlin Capital Management LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth $109,403,000. Finally, Mizuho Securities USA LLC boosted its stake in Simon Property Group by 2,520.3% in the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after buying an additional 633,072 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $174.42 on Friday. The stock has a market capitalization of $56.91 billion, a PE ratio of 23.22, a PEG ratio of 9.26 and a beta of 1.75. The business’s 50 day simple moving average is $176.69 and its 200 day simple moving average is $168.63. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.20 earnings per share. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho increased 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. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.

About Simon Property Group

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.