TCW Group Inc. Lowers Position in Simon Property Group, Inc. (NYSE:SPG)

Key Points

• TCW Group Inc. has reduced its holdings in Simon Property Group by 1.6%, leaving the fund with 395,710 shares, valued at approximately $65.7 million.
• Research analysts have varied opinions on the stock, with a consensus rating of "Hold" and a price target of $182.73 as of now.
• Simon Property Group declared a quarterly dividend of $2.10 per share, yielding 5.03%, which indicates a high dividend payout ratio of 133.76%.

TCW Group Inc. cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 395,710 shares of the real estate investment trust's stock after selling 6,491 shares during the quarter. TCW Group Inc. owned 0.12% of Simon Property Group worth $65,720,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Alteri Wealth LLC raised its position in shares of Simon Property Group by 21.0% during the first quarter. Alteri Wealth LLC now owns 2,657 shares of the real estate investment trust's stock worth $441,000 after purchasing an additional 461 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Simon Property Group by 27.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 371,757 shares of the real estate investment trust's stock worth $61,741,000 after purchasing an additional 80,294 shares during the period. Kapitalo Investimentos Ltda raised its position in shares of Simon Property Group by 160.4% during the first quarter. Kapitalo Investimentos Ltda now owns 1,703 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 1,049 shares during the period. TD Asset Management Inc raised its position in shares of Simon Property Group by 10.7% during the first quarter. TD Asset Management Inc now owns 139,274 shares of the real estate investment trust's stock worth $23,131,000 after purchasing an additional 13,500 shares during the period. Finally, HB Wealth Management LLC raised its position in shares of Simon Property Group by 11.6% during the first quarter. HB Wealth Management LLC now owns 6,530 shares of the real estate investment trust's stock worth $1,085,000 after purchasing an additional 679 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE:SPG traded down $1.38 during trading on Thursday, reaching $164.08. The company's stock had a trading volume of 546,195 shares, compared to its average volume of 1,619,784. The firm has a market cap of $53.56 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 11.35 and a beta of 1.43. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a 50 day moving average of $161.70 and a 200-day moving average of $165.32. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.56 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.12%. Simon Property Group's payout ratio is 133.76%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPG. Scotiabank upped their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target for the company. Finally, Stifel Nicolaus upped their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $182.73.

Insider Activity at Simon Property Group

In other news, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the purchase, the director owned 19,057 shares of the company's stock, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry C. Glasscock purchased 396 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $63,078.84. Following the purchase, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,386 shares of company stock worth $380,066 in the last three months. Corporate insiders own 8.66% 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.