Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group during the 3rd quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group in the fourth quarter valued at $41,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $41,000. Eastern Bank acquired a new stake in shares of Simon Property Group during the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $185.88 on Thursday. The firm has a 50-day simple moving average of $176.10 and a 200-day simple moving average of $172.25. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $60.65 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 10.00 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts predict 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, March 31st. Investors of record on Monday, March 10th will be given 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 payout ratio is 115.70%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on SPG shares. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven investment 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 company currently has a consensus rating of “Hold” and an average price target of $175.10.

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.