TCW Group Inc. Has $67.61 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

TCW Group Inc. boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 400,026 shares of the real estate investment trust’s stock after acquiring an additional 20,215 shares during the quarter. TCW Group Inc.’s holdings in Simon Property Group were worth $67,612,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Aptus Capital Advisors LLC lifted its stake 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 valued at $273,000 after acquiring an additional 61 shares during the last quarter. Inspire Advisors LLC raised its holdings 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 valued at $696,000 after purchasing an additional 65 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of Simon Property Group by 0.9% during the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after purchasing an additional 67 shares in the last quarter. Augustine Asset Management Inc. lifted its stake in shares of Simon Property Group by 3.8% in 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 last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Scotiabank upped their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Truist Financial lifted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $165.44.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 1.6 %

Shares of SPG opened at $179.19 on Wednesday. The business’s fifty day moving average price is $175.92 and its two-hundred day moving average price is $162.93. The firm 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 52 week low of $132.24 and a 52 week high of $186.00. 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 posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.20 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.69%. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio is currently 109.19%.

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.