Sienna Gestion Decreases Position in Simon Property Group, Inc. (NYSE:SPG)

Sienna Gestion decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 89.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,979 shares of the real estate investment trust’s stock after selling 82,532 shares during the quarter. Sienna Gestion’s holdings in Simon Property Group were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank raised its stake in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 1,372 shares during the last quarter. Versant Capital Management Inc increased its position in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares during the period. Finally, Merit Financial Group LLC purchased a new position in Simon Property Group in the fourth quarter worth about $416,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 4.0 %

Shares of SPG stock opened at $159.12 on Friday. The stock has a market cap of $51.92 billion, a P/E ratio of 21.92, a PEG ratio of 10.10 and a beta of 1.78. The company’s fifty day simple moving average is $177.33 and its two-hundred day simple moving average is $174.43. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. 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 released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated 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. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $180.33.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now 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 filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by company insiders.

Simon Property Group 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.