Sentry Investment Management LLC Sells 292 Shares of Simon Property Group, Inc. (NYSE:SPG)

Sentry Investment Management LLC lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 17.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,426 shares of the real estate investment trust’s stock after selling 292 shares during the quarter. Sentry Investment Management LLC’s holdings in Simon Property Group were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC bought a new stake in Simon Property Group during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the second quarter worth $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the first quarter worth $26,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the second quarter valued at $27,000. Finally, Cape Investment Advisory Inc. raised its position in Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.4 %

SPG opened at $163.31 on Thursday. The company has a fifty day moving average price of $156.81 and a two-hundred day moving average price of $151.41. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $169.18. The company has a market cap of $53.25 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 9.01 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.30 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $2.05 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Argus increased their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Piper Sandler restated a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Evercore ISI increased their price objective on shares of Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Truist Financial boosted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $161.28.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.