CFM Wealth Partners LLC Increases Stock Position in Simon Property Group, Inc. $SPG

CFM Wealth Partners LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 11.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,714 shares of the real estate investment trust’s stock after purchasing an additional 880 shares during the period. CFM Wealth Partners LLC’s holdings in Simon Property Group were worth $1,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at about $47,000. Finally, Grove Bank & Trust raised its holdings in shares of Simon Property Group by 231.3% in the first quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 464 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the transaction, the director directly owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $65,268.45. Following the transaction, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,163 shares of company stock valued at $401,605. 8.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. Truist Financial increased their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Mizuho reduced their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Argus restated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Morgan Stanley increased their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $187.23.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $179.34 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market capitalization of $58.55 billion, a PE ratio of 27.72, a P/E/G ratio of 11.22 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a 50-day moving average price of $177.06 and a two-hundred day moving average price of $165.63.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

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.