CFM Wealth Partners LLC Takes $595,000 Position in Simon Property Group, Inc. (NYSE:SPG)

CFM Wealth Partners LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,803 shares of the real estate investment trust’s stock, valued at approximately $595,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. increased its stake in shares of Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Simon Property Group during the 4th quarter worth approximately $34,000. Rise Advisors LLC boosted its holdings in shares of Simon Property Group by 145.9% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 162 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $41,000. Finally, Highlander Capital Management LLC boosted its holdings in shares of Simon Property Group by 183.5% during the 4th quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Argus boosted their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI upped their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Scotiabank upped their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Finally, Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group has an average rating of “Moderate Buy” and an average price target of $147.60.

Simon Property Group Stock Down 0.2 %

Shares of Simon Property Group stock traded down $0.27 during trading hours on Wednesday, reaching $147.60. 1,674,616 shares of the company were exchanged, compared to its average volume of 1,488,791. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $157.82. The stock’s fifty day moving average is $147.08 and its 200 day moving average is $146.48. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market cap of $48.11 billion, a PE ratio of 18.80, a PEG ratio of 8.79 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.74 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.84 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 Friday, June 28th. Investors of record on Friday, June 7th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.42%. The ex-dividend date is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is 101.91%.

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.