Sienna Gestion Has $1.72 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Sienna Gestion trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 89.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,979 shares of the real estate investment trust's stock after selling 82,532 shares during the period. Sienna Gestion's holdings in Simon Property Group were worth $1,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock valued at $626,419,000 after acquiring an additional 64,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Simon Property Group by 617.5% during 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 purchasing an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in Simon Property Group by 3.5% during the third 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 purchasing an additional 88,378 shares in the last quarter. Amundi boosted its holdings in Simon Property Group by 10.5% during the fourth quarter. Amundi now owns 1,728,738 shares of the real estate investment trust's stock valued at $301,088,000 after purchasing an additional 163,764 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust's stock valued at $236,995,000 after purchasing an additional 98,366 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective on the stock. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised 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 report on Thursday, January 2nd. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $180.33.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.50% of the company's stock.

Simon Property Group Price Performance

Shares of SPG traded down $2.17 on Tuesday, hitting $164.70. The company's stock had a trading volume of 1,340,225 shares, compared to its average volume of 1,338,850. The company has a market capitalization of $53.74 billion, a PE ratio of 22.69, a PEG ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a 50 day moving average price of $176.89 and a 200 day moving average price of $174.49. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.10%. Simon Property Group's dividend payout ratio is currently 115.70%.

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.