Cwm LLC Purchases 2,310 Shares of Simon Property Group, Inc. $SPG

Key Points

• Cwm LLC increased its stake in Simon Property Group by 22.1%, acquiring an additional 2,310 shares for a total of 12,763 shares valued at approximately $2.05 million.
• Simon Property Group's recent earnings report revealed $3.05 earnings per share, exceeding expectations, and a revenue increase of 13.9% compared to the previous year.
• The company recently raised its quarterly dividend to $2.15, reflecting an annualized yield of 4.8%, with a high dividend payout ratio of 132.92%.

Cwm LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,763 shares of the real estate investment trust's stock after acquiring an additional 2,310 shares during the quarter. Cwm LLC's holdings in Simon Property Group were worth $2,052,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in Simon Property Group during the second quarter valued at $25,000. Park Square Financial Group LLC boosted its position in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Simon Property Group during the 1st quarter worth about $47,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 0.8%

SPG opened at $178.23 on Monday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm has a market capitalization of $58.19 billion, a PE ratio of 27.55, a P/E/G ratio of 13.06 and a beta of 1.50. The company's 50-day moving average is $179.20 and its 200 day moving average is $166.40.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $2.90 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $2.15 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.8%. Simon Property Group's dividend payout ratio (DPR) is 132.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Monday, October 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Truist Financial increased their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research report on Monday, August 25th. 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 objective on the stock. Finally, Evercore ISI increased their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an "in-line" rating in a research report on Friday. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $187.31.

Insider Transactions at Simon Property Group

In other news, Director Daniel C. Smith acquired 335 shares of the firm'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 $62,293.25. Following the purchase, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock acquired 351 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,163 shares of company stock worth $401,605. Company insiders own 8.60% of the company's stock.

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.