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

Sentry Investment Management LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the 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 SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SPG. Clearstead Trust LLC bought a new stake in Simon Property Group in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Simon Property Group in the 2nd quarter valued at $25,000. EntryPoint Capital LLC bought a new stake in Simon Property Group in the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group during the 2nd quarter valued at $27,000. Finally, Cape Investment Advisory Inc. boosted its position in Simon Property Group by 3,200.0% during the fourth 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 period. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Scotiabank raised 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 report on Monday, August 26th. Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $161.28.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Simon Property Group stock opened at $163.31 on Thursday. The firm has a market cap of $53.25 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 9.01 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s fifty day moving average price is $156.81 and its two-hundred day moving average price is $151.41. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $169.18.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 return on equity of 78.14% and a net margin of 45.90%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $2.05 per share. 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. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is 101.91%.

About Simon Property Group

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.