TCTC Holdings LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

TCTC Holdings LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 199 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the 4th quarter worth approximately $28,000. WR Wealth Planners LLC grew its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $30,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Finally, Synergy Asset Management LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $41,000. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $166.89 on Tuesday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The stock has a fifty day moving average of $176.89 and a 200-day moving average of $174.49. The company has a market capitalization of $54.45 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.03%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Company 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.