Dark Forest Capital Management LP Sells 2,086 Shares of Simon Property Group, Inc. (NYSE:SPG)

Dark Forest Capital Management LP lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 61.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,330 shares of the real estate investment trust’s stock after selling 2,086 shares during the quarter. Dark Forest Capital Management LP’s holdings in Simon Property Group were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Morse Asset Management Inc bought a new stake in Simon Property Group during the 3rd quarter valued at $155,000. SkyView Investment Advisors LLC lifted its stake in shares of Simon Property Group by 4.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 158 shares during the last quarter. World Investment Advisors LLC boosted its position in Simon Property Group by 17.3% during the third quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 521 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group in the third quarter valued at about $834,000. Finally, Blankinship & Foster LLC bought a new position in Simon Property Group in the third quarter worth about $608,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.0 %

SPG stock opened at $156.88 on Wednesday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm’s fifty day simple moving average is $162.59 and its 200-day simple moving average is $171.91. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a market capitalization of $51.19 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.35%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank lowered their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price on the stock in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.39.

Simon Property Group 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.