Cwm LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Cwm LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,914 shares of the real estate investment trust’s stock after acquiring an additional 502 shares during the period. Cwm LLC’s holdings in Simon Property Group were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock valued at $38,903,000 after acquiring an additional 51,380 shares in the last quarter. Nordea Investment Management AB boosted its stake in Simon Property Group by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after buying an additional 6,703 shares during the last quarter. SG Americas Securities LLC boosted its stake in Simon Property Group by 121.5% during the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock valued at $4,565,000 after buying an additional 17,552 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Simon Property Group during the fourth quarter valued at approximately $238,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Simon Property Group by 9.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock valued at $11,670,000 after buying an additional 7,250 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.3 %

Shares of SPG stock opened at $142.36 on Monday. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $149.04 and its two-hundred day simple moving average is $137.23. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82. The company has a market cap of $46.40 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company posted $3.15 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 8th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 5.48%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio is presently 111.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SPG shares. Evercore ISI increased their price target on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Morgan Stanley increased their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Truist Financial increased their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Company Profile

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.