Dark Forest Capital Management LP Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

Dark Forest Capital Management LP cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 61.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,330 shares of the real estate investment trust's stock after selling 2,086 shares during the period. 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 large investors have also bought and sold shares of SPG. Price T Rowe Associates Inc. MD boosted its stake in Simon Property Group by 2.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,653,424 shares of the real estate investment trust's stock worth $629,158,000 after acquiring an additional 81,359 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Simon Property Group by 1.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 45,688 shares of the real estate investment trust's stock worth $7,867,000 after acquiring an additional 772 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Simon Property Group by 1.1% in the fourth quarter. MetLife Investment Management LLC now owns 94,124 shares of the real estate investment trust's stock worth $16,209,000 after acquiring an additional 1,063 shares during the last quarter. Norinchukin Bank The increased its holdings in shares of Simon Property Group by 3.7% during the fourth quarter. Norinchukin Bank The now owns 27,610 shares of the real estate investment trust's stock valued at $4,755,000 after acquiring an additional 984 shares in the last quarter. Finally, Capital World Investors purchased a new position in shares of Simon Property Group in the 4th quarter worth about $119,777,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock traded down $0.11 during mid-day trading on Monday, reaching $161.67. 173,513 shares of the company's stock traded hands, compared to its average volume of 1,652,810. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a 50 day moving average price of $161.11 and a two-hundred day moving average price of $171.58. The firm has a market capitalization of $52.75 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SPG shares. Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price on the stock in a research note on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently 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.