CFM Wealth Partners LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG – Free Report) 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 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.
Get Our Latest Stock Report on Simon Property Group
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.
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