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

TTP Investments Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,314 shares of the real estate investment trust’s stock after acquiring an additional 915 shares during the period. Simon Property Group accounts for 4.1% of TTP Investments Inc.’s portfolio, making the stock its 8th largest holding. TTP Investments Inc.’s holdings in Simon Property Group were worth $9,685,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC raised its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $30,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group during the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

SPG opened at $156.97 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 8.76 and a beta of 1.47. The company has a fifty day moving average of $158.31 and a 200 day moving average of $168.00. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.56 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.35%. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho decreased their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Piper Sandler decreased their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Wall Street Zen cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Scotiabank raised their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $179.44.

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.