Simon Property Group, Inc. (NYSE:SPG) Holdings Boosted by TCW Group Inc.

TCW Group Inc. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 402,201 shares of the real estate investment trust’s stock after purchasing an additional 2,175 shares during the period. TCW Group Inc. owned 0.12% of Simon Property Group worth $69,263,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP purchased a new position in Simon Property Group during the 3rd quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new position in Simon Property Group during the 4th quarter worth approximately $41,000. Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group during the 4th quarter worth approximately $41,000. Eastern Bank purchased a new position in shares of Simon Property Group during the 3rd quarter valued at $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at $45,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPG. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $175.10.

Simon Property Group Trading Down 1.5 %

Shares of NYSE:SPG opened at $183.86 on Friday. The stock has a market capitalization of $59.99 billion, a PE ratio of 25.32, a P/E/G ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13. The firm has a fifty day moving average price of $176.37 and a 200 day moving average price of $172.72. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

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.