TCTC Holdings LLC Invests $34,000 in Simon Property Group, Inc. (NYSE:SPG)

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

Several other hedge funds and other institutional investors have also modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Simon Property Group by 1.3% during the fourth quarter. Signaturefd LLC now owns 5,542 shares of the real estate investment trust’s stock worth $954,000 after acquiring an additional 71 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Simon Property Group by 12.9% during the fourth quarter. Parallel Advisors LLC now owns 5,704 shares of the real estate investment trust’s stock worth $982,000 after acquiring an additional 650 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of Simon Property Group by 11.9% during the fourth quarter. Cibc World Markets Corp now owns 138,486 shares of the real estate investment trust’s stock worth $23,849,000 after acquiring an additional 14,728 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Simon Property Group by 284.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,621 shares of the real estate investment trust’s stock worth $279,000 after acquiring an additional 1,199 shares in the last quarter. Finally, SlateStone Wealth LLC raised its holdings in shares of Simon Property Group by 16.3% during the fourth quarter. SlateStone Wealth LLC now owns 1,593 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost 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 $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded 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. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Trading Up 3.5 %

Simon Property Group stock opened at $166.89 on Tuesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The business’s 50-day simple moving average is $176.89 and its 200-day simple moving average is $174.49. The firm has a market capitalization of $54.45 billion, a PE ratio of 22.99, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

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

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.