Dark Forest Capital Management LP Takes $414,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Dark Forest Capital Management LP acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 2,730 shares of the real estate investment trust’s stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lighthouse Investment Partners LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $5,706,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Simon Property Group by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after acquiring an additional 3,626 shares during the last quarter. Napa Wealth Management purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $3,151,000. Aspiriant LLC bought a new position in shares of Simon Property Group during the 1st quarter valued at $1,139,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Simon Property Group by 333.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,531 shares of the real estate investment trust’s stock valued at $3,839,000 after buying an additional 18,872 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Argus increased their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Truist Financial boosted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

Simon Property Group stock opened at $167.71 on Friday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $170.87. The stock’s 50 day simple moving average is $160.77 and its two-hundred day simple moving average is $152.76. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $54.68 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 9.32 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.88 earnings per share. As a group, analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

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.