Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Sienna Gestion

Sienna Gestion boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,798 shares of the real estate investment trust’s stock after buying an additional 457 shares during the period. Simon Property Group accounts for 1.0% of Sienna Gestion’s portfolio, making the stock its 25th biggest holding. Sienna Gestion’s holdings in Simon Property Group were worth $11,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Clearstead Trust LLC bought a new position in shares of Simon Property Group in the first quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group in the first quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group in the second quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group during the 2nd quarter valued at $27,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Simon Property Group during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $164.35 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $169.18. The firm’s 50 day simple moving average is $158.49 and its 200-day simple moving average is $151.92. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $53.57 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 8.97 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 earnings per share. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $2.05 per share. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.99%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPG. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a report on Monday. Truist Financial upped their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Argus lifted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Piper Sandler reissued a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Finally, Scotiabank raised their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.78.

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.