CFM Wealth Partners LLC Lowers Stake in Simon Property Group, Inc. $SPG

CFM Wealth Partners LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 46.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,630 shares of the real estate investment trust’s stock after selling 4,084 shares during the period. CFM Wealth Partners LLC’s holdings in Simon Property Group were worth $869,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SPG. Vanguard Group Inc. grew its stake in shares of Simon Property Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock valued at $7,369,128,000 after buying an additional 149,314 shares in the last quarter. State Street Corp boosted its holdings in Simon Property Group by 1.1% during the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock valued at $3,448,703,000 after acquiring an additional 228,819 shares during the period. Geode Capital Management LLC grew its position in Simon Property Group by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after acquiring an additional 127,636 shares in the last quarter. Norges Bank purchased a new stake in Simon Property Group during the second quarter worth about $1,051,262,000. Finally, JPMorgan Chase & Co. increased its stake in Simon Property Group by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 363 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the purchase, the director directly owned 43,899 shares in the company, valued at $8,165,214. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stefan M. Selig purchased 201 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, with a total value of $37,386.00. Following the completion of the acquisition, the director directly owned 32,277 shares of the company’s stock, valued at $6,003,522. This represents a 0.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 2,192 shares of company stock worth $407,712. 8.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. Piper Sandler raised their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. UBS Group raised their price target on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a research note on Friday, January 16th. Citigroup upped their price objective on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average price target of $194.64.

Simon Property Group Trading Up 0.3%

Shares of NYSE:SPG opened at $185.36 on Tuesday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company’s 50 day moving average is $184.32 and its two-hundred day moving average is $178.93. The company has a market cap of $60.52 billion, a PE ratio of 26.98, a P/E/G ratio of 6.85 and a beta of 1.37. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.