TTP Investments Inc. Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

TTP Investments Inc. raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 67.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 57,399 shares of the real estate investment trust’s stock after buying an additional 23,109 shares during the period. Simon Property Group comprises 3.5% of TTP Investments Inc.’s holdings, making the stock its 8th largest position. TTP Investments Inc.’s holdings in Simon Property Group were worth $9,885,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SPG. Geneos Wealth Management Inc. purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $146,000. CX Institutional purchased a new position in Simon Property Group during the 4th quarter worth $233,000. Sound Income Strategies LLC boosted its holdings in Simon Property Group by 3.9% during the 4th quarter. Sound Income Strategies LLC now owns 105,709 shares of the real estate investment trust’s stock worth $18,204,000 after acquiring an additional 3,961 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth $295,000. Finally, Sustainable Insight Capital Management LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $473,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $174.42 on Friday. The firm has a 50-day moving average price of $176.69 and a 200-day moving average price of $168.63. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $56.91 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 9.26 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $3.20 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date was 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 4.82%. Simon Property Group’s dividend payout ratio is currently 111.85%.

Analyst Upgrades and Downgrades

SPG has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target 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 company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $172.10.

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.