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

CFM Wealth Partners LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,803 shares of the real estate investment trust’s stock after selling 700 shares during the period. CFM Wealth Partners LLC’s holdings in Simon Property Group were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new stake in shares of Simon Property Group in the 4th quarter worth about $120,000. Wellington Management Group LLP raised its position in shares of Simon Property Group by 61.5% during the 4th quarter. Wellington Management Group LLP now owns 490,187 shares of the real estate investment trust’s stock valued at $69,920,000 after buying an additional 186,740 shares in the last quarter. Leo Wealth LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $238,000. Quadrature Capital Ltd purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $1,370,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at $485,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SPG shares. Mizuho raised their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Scotiabank lifted their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $162.78.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $174.63 on Wednesday. The firm has a 50 day moving average of $164.74 and a 200 day moving average of $154.14. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a market capitalization of $56.94 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 9.20 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $176.70.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a $2.05 dividend. This is a positive change 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 4.70%. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 104.19%.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.