Sienna Gestion Lowers Stake in Simon Property Group, Inc. (NYSE:SPG)

Sienna Gestion trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 89.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,979 shares of the real estate investment trust’s stock after selling 82,532 shares during the period. Sienna Gestion’s holdings in Simon Property Group were worth $1,718,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the fourth quarter worth approximately $28,000. WR Wealth Planners LLC raised its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the 4th quarter worth $30,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter worth $41,000. Finally, Synergy Asset Management LLC bought a new stake in Simon Property Group during the fourth quarter valued at about $41,000. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $180.33.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 4.0 %

Shares of SPG stock opened at $159.12 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The firm has a market capitalization of $51.92 billion, a PE ratio of 21.92, a P/E/G ratio of 10.10 and a beta of 1.78. The stock’s 50-day simple moving average is $177.33 and its 200-day simple moving average is $174.43.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

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.