Sentry Investment Management LLC Sells 200 Shares of Simon Property Group, Inc. (NYSE:SPG)

Sentry Investment Management LLC lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,226 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Sentry Investment Management LLC’s holdings in Simon Property Group were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group during the fourth quarter worth $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at $30,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $41,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth $41,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

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

Simon Property Group Stock Down 0.5 %

Simon Property Group stock opened at $183.69 on Wednesday. The firm has a 50 day simple moving average of $176.50 and a 200 day simple moving average of $173.25. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The firm has a market capitalization of $59.93 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now 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 legal filing with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.

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.