TCW Group Inc. Has $69.26 Million Position in Simon Property Group, Inc. (NYSE:SPG)

TCW Group Inc. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 402,201 shares of the real estate investment trust’s stock after buying an additional 2,175 shares during the period. TCW Group Inc.’s holdings in Simon Property Group were worth $69,263,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group during the third quarter valued at about $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at about $41,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group in the fourth quarter valued at about $41,000. Eastern Bank bought a new stake in Simon Property Group in the third quarter valued at about $42,000. Finally, Golden State Wealth Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $175.10.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $183.86 on Friday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $59.99 billion, a price-to-earnings 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’s 50-day moving average price is $176.37 and its two-hundred day moving average price is $172.72.

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

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

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.