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

Sanctuary Advisors LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 19.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 39,783 shares of the real estate investment trust’s stock after buying an additional 6,475 shares during the quarter. Sanctuary Advisors LLC’s holdings in Simon Property Group were worth $7,206,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 worth $539,393,000 after acquiring 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 worth $442,892,000 after purchasing an additional 88,378 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in 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 worth $251,484,000 after purchasing an additional 25,519 shares in the last quarter. Los Angeles Capital Management LLC increased its stake 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 buying an additional 993,694 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Simon Property Group by 6.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock worth $193,023,000 after buying an additional 73,742 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 1.4 %

SPG stock opened at $179.60 on Friday. The stock has a fifty day moving average of $176.65 and a 200-day moving average of $163.67. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The company has a market capitalization of $58.60 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 10.33 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Analyst Ratings Changes

SPG has been the subject of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. 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 report on Wednesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.44.

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.