TCG Advisory Services LLC Takes $1.17 Million Position in Simon Property Group, Inc. (NYSE:SPG)

TCG Advisory Services LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,219 shares of the real estate investment trust’s stock, valued at approximately $1,172,000.

Several other institutional investors have also added to or reduced their stakes in the stock. DT Investment Partners LLC lifted its position in shares of Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 200 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in Simon Property Group during the fourth quarter valued at $34,000. Selway Asset Management acquired a new stake in Simon Property Group during the 3rd quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Simon Property Group in the 4th quarter worth about $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $33,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Truist Financial upped their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Evercore ISI boosted their target price on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their price target on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Stock Up 1.1 %

Shares of NYSE:SPG traded up $1.57 during mid-day trading on Friday, hitting $142.93. 1,257,436 shares of the company traded hands, compared to its average volume of 1,222,757. The stock has a market cap of $46.58 billion, a P/E ratio of 20.48, a P/E/G ratio of 7.42 and a beta of 1.68. The stock has a 50-day moving average price of $148.21 and a two-hundred day moving average price of $138.01. Simon Property Group, Inc. has a 12-month low of $100.17 and a 12-month high of $157.82. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm earned $3.15 earnings per share. Simon Property Group’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is presently 111.75%.

Simon Property Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.