Sanctuary Advisors LLC Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

Sanctuary Advisors LLC decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 39,476 shares of the real estate investment trust’s stock after selling 307 shares during the quarter. Sanctuary Advisors LLC’s holdings in Simon Property Group were worth $6,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the period. Smead Capital Management Inc. raised its stake in shares of Simon Property Group by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after acquiring an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Simon Property Group by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after acquiring an additional 25,519 shares during the period. Principal Financial Group Inc. boosted its position in shares of Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after purchasing an additional 98,366 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho boosted their target price 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. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Stock Down 0.1 %

SPG stock opened at $185.88 on Thursday. The company’s 50 day moving average is $176.10 and its two-hundred day moving average is $172.25. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market cap of $60.65 billion, a P/E ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74.

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

Simon Property Group Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.52%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by corporate 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.