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

Dark Forest Capital Management LP bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent filing with the SEC. The firm bought 2,730 shares of the real estate investment trust’s stock, valued at approximately $414,000.

Several other hedge funds have also bought and sold shares of the business. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group in the 2nd quarter valued at $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group during the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. purchased a new position in Simon Property Group during the 2nd quarter worth $27,000. Finally, RFP Financial Group LLC grew its stake in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SPG shares. Argus raised their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Mizuho lifted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Performance

NYSE:SPG opened at $167.71 on Friday. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $170.87. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day simple moving average of $160.77 and a two-hundred day simple moving average of $152.76. The company has a market capitalization of $54.68 billion, a P/E ratio of 21.36, a P/E/G ratio of 9.32 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $2.88 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

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

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.