TCW Group Inc. Purchases 20,215 Shares of Simon Property Group, Inc. (NYSE:SPG)

TCW Group Inc. increased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,026 shares of the real estate investment trust's stock after purchasing an additional 20,215 shares during the period. TCW Group Inc. owned approximately 0.12% of Simon Property Group worth $67,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SPG. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group during the 2nd quarter worth approximately $27,000. RFP Financial Group LLC boosted its holdings in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 160 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC bought a new stake in Simon Property Group during the 3rd quarter worth about $42,000. Finally, Eastern Bank acquired a new position in shares of Simon Property Group during the 3rd quarter worth about $42,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded down $2.65 on Wednesday, hitting $176.58. The stock had a trading volume of 1,776,959 shares, compared to its average volume of 1,447,467. The stock has a market cap of $57.61 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 10.75 and a beta of 1.75. The business's 50 day moving average is $176.12 and its two-hundred day moving average is $163.15. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a twelve month low of $133.11 and a twelve month high of $186.00.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.20 earnings per share. Analysts forecast that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.76%. Simon Property Group's payout ratio is presently 109.19%.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SPG. Evercore ISI raised Simon Property Group from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Stifel Nicolaus reissued a "hold" rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $165.44.

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.