Sanctuary Advisors LLC Acquires 6,475 Shares of Simon Property Group, Inc. (NYSE:SPG)

Sanctuary Advisors LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,783 shares of the real estate investment trust's stock after purchasing an additional 6,475 shares during the period. Sanctuary Advisors LLC's holdings in Simon Property Group were worth $7,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Simon Property Group by 617.5% in the third 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 acquiring an additional 2,746,503 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of 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 worth $212,906,000 after buying an additional 993,694 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust's stock worth $150,780,000 after buying an additional 887,356 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust's stock worth $111,247,000 after buying an additional 633,072 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Simon Property Group by 295.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust's stock valued at $110,759,000 after buying an additional 489,519 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Up 1.4 %

NYSE SPG traded up $2.40 during trading on Friday, hitting $179.60. The stock had a trading volume of 1,462,367 shares, compared to its average volume of 1,466,900. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company's 50-day moving average price is $176.65 and its two-hundred day moving average price is $163.67. The company has a market capitalization of $58.60 billion, a PE ratio of 23.91, a P/E/G ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.68%. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio is currently 111.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a "hold" rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho boosted 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. Truist Financial raised their target price on Simon Property Group from $147.00 to $158.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $165.44.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company's stock, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by 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.