Cerity Partners LLC Has $6.05 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Cerity Partners LLC cut its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 25.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,389 shares of the real estate investment trust's stock after selling 11,975 shares during the quarter. Cerity Partners LLC's holdings in Simon Property Group were worth $6,045,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SPG. Morse Asset Management Inc bought a new position in shares of Simon Property Group during the third quarter worth about $155,000. EP Wealth Advisors LLC boosted its position in shares of Simon Property Group by 28.7% during the third quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust's stock worth $313,000 after buying an additional 413 shares during the period. Orion Portfolio Solutions LLC increased its position in Simon Property Group by 13.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust's stock valued at $1,714,000 after acquiring an additional 1,192 shares during the period. Coldstream Capital Management Inc. boosted its position in Simon Property Group by 5.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,114 shares of the real estate investment trust's stock worth $1,040,000 after acquiring an additional 321 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in Simon Property Group by 8.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,978 shares of the real estate investment trust's stock worth $672,000 after acquiring an additional 300 shares during the period. 93.01% of the stock is currently owned by institutional investors.

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Simon Property Group Stock Down 0.3 %

Shares of NYSE:SPG traded down $0.52 during midday trading on Tuesday, hitting $149.35. 1,203,463 shares of the stock were exchanged, compared to its average volume of 1,499,577. The business's fifty day simple moving average is $169.49 and its two-hundred day simple moving average is $173.17. 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, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a market capitalization of $48.73 billion, a PE ratio of 20.57, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio is 115.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SPG shares. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a report on Wednesday, April 9th. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $181.39.

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.