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

CFM Wealth Partners LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, HoldingsChannel reports. The fund bought 3,803 shares of the real estate investment trust’s stock, valued at approximately $595,000.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC grew its position in shares of Simon Property Group by 16.6% in the 3rd quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after acquiring an additional 51,380 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Simon Property Group by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock worth $21,923,000 after acquiring an additional 6,703 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $5,706,000. SG Americas Securities LLC grew its position in shares of Simon Property Group by 121.5% in the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after acquiring an additional 17,552 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Simon Property Group by 97.8% in the 4th quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock worth $10,708,000 after acquiring an additional 37,108 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

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

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $2.74 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts expect that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is currently 101.91%.

Analyst Upgrades and Downgrades

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

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.