TCW Group Inc. Has $23.60 Million Stake in Simon Property Group, Inc. (SPG)

TCW Group Inc. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 42.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 146,593 shares of the real estate investment trust’s stock after selling 109,619 shares during the quarter. TCW Group Inc.’s holdings in Simon Property Group were worth $23,602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norway Savings Bank increased its position in shares of Simon Property Group by 19.5% during the 2nd quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Simon Property Group by 27.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 169 shares during the last quarter. Alpha Windward LLC grew its position in Simon Property Group by 12.2% in the 2nd quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 93 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in Simon Property Group in the 2nd quarter valued at $157,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 7 shares in the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

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Simon Property Group, Inc. (NYSE SPG) traded up $0.20 on Wednesday, hitting $160.51. The company had a trading volume of 2,085,800 shares, compared to its average volume of 1,827,928. The firm has a market cap of $102,561.53, a PE ratio of 14.56, a P/E/G ratio of 2.15 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $189.25.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company posted $2.70 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts expect that Simon Property Group, Inc. will post 11.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a $1.85 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is 126.98%.

A number of equities research analysts recently weighed in on SPG shares. Royal Bank Of Canada restated a “hold” rating and set a $176.00 price objective on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus decreased their price objective on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Zacks Investment Research cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. SunTrust Banks, Inc. set a $170.00 target price on Simon Property Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Mizuho set a $183.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $191.45.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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