TCW Group Inc. Sells 3,298 Shares of Simon Property Group, Inc. (NYSE:SPG)

TCW Group Inc. lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 322,982 shares of the real estate investment trust’s stock after selling 3,298 shares during the quarter. TCW Group Inc. owned approximately 0.10% of Simon Property Group worth $46,079,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AXS Investments LLC raised its holdings in shares of Simon Property Group by 53.8% in the 4th quarter. AXS Investments LLC now owns 13,500 shares of the real estate investment trust’s stock valued at $1,926,000 after purchasing an additional 4,720 shares in the last quarter. Commerce Bank raised its stake in shares of Simon Property Group by 11.6% during the 4th quarter. Commerce Bank now owns 21,084 shares of the real estate investment trust’s stock worth $3,007,000 after acquiring an additional 2,189 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Simon Property Group by 1.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 39,858 shares of the real estate investment trust’s stock worth $5,685,000 after acquiring an additional 651 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Simon Property Group during the 4th quarter valued at approximately $483,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Simon Property Group by 29.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 396 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Morgan Stanley increased their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Evercore ISI increased their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Scotiabank upped their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.40.

Simon Property Group Trading Down 1.0 %

SPG stock traded down $1.53 during mid-day trading on Thursday, hitting $144.66. 1,079,314 shares of the company were exchanged, compared to its average volume of 1,459,078. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The firm has a market capitalization of $47.15 billion, a P/E ratio of 18.54, a PEG ratio of 8.78 and a beta of 1.68. The business has a fifty day simple moving average of $147.55 and a 200-day simple moving average of $141.79. Simon Property Group, Inc. has a 12-month low of $100.17 and a 12-month high of $157.82.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the business earned $2.74 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.87 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $2.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.53%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is currently 99.36%.

Simon Property Group declared that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.