Sienna Gestion Has $11.20 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Sienna Gestion increased its position in Simon Property Group, Inc. (NYSE:SPG) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund 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 largest holding. Sienna Gestion’s holdings in Simon Property Group were worth $11,197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at $227,000. Brown Advisory Inc. raised its holdings in Simon Property Group by 5.9% during the fourth quarter. Brown Advisory Inc. now owns 6,381 shares of the real estate investment trust’s stock valued at $910,000 after buying an additional 353 shares in the last quarter. ING Groep NV lifted its position in shares of Simon Property Group by 369.7% in the fourth quarter. ING Groep NV now owns 3,668 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 2,887 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Simon Property Group by 1.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock worth $741,000 after acquiring an additional 77 shares in the last quarter. Finally, Balentine LLC boosted its stake in shares of Simon Property Group by 13.7% during the 4th quarter. Balentine LLC now owns 2,798 shares of the real estate investment trust’s stock worth $399,000 after acquiring an additional 337 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $164.35 on Thursday. The firm’s 50-day moving average is $158.49 and its 200-day moving average is $151.92. The company has a market cap of $53.57 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 8.97 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $169.18.

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

Simon Property Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPG. Mizuho boosted their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Scotiabank boosted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a research report on Monday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

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.