In a recent transaction, Glyn Aeppel, a director at Simon Property Group Inc. (NYSE:SPG), acquired 202 shares of the company's common stock. The shares were purchased at a price of $168.59 each, amounting to a total value of $34,055. This acquisition was made through the reinvestment of dividends received on restricted stock, as part of the Simon Property Group, L.P. 2019 Stock Incentive Plan. The $64.7 billion market cap company, which boasts a "GREAT" financial health score according to InvestingPro, currently offers a 4.88% dividend yield and has maintained dividend payments for 31 consecutive years. Following this transaction, Aeppel's total direct ownership of Simon Property Group's stock stands at 17,422 shares. Discover 8 more exclusive InvestingPro Tips and access comprehensive Research Reports covering what really matters about Simon Property Group and 1,400+ other top stocks.
In other recent news, Simon Property Group demonstrated a strong financial performance in the third quarter. The company reported a 4.8% year-over-year increase in real estate funds from operations (FFO) to $3.05 per share, and a 10.5% rise in dividends to $2.10 per share. Despite a non-cash loss related to Klépierre exchangeable bonds, the company maintained high occupancy rates and leasing momentum.
Jefferies upgraded Simon Property Group's stock from Hold to Buy, citing the resilience of the consumer market and the company's ability to convert temporary leases to permanent ones. Jefferies also anticipates a growth in the company's occupancy rate to 96.7% by the fourth quarter of 2025, surpassing pre-pandemic levels.
However, Deutsche Bank (ETR:DBKGn) initiated coverage on Simon Property Group with a Hold rating due to concerns over the impact of tariffs on trading multiples across the mall sector. These recent developments highlight Simon Property Group's position within the real estate market and its strong underlying business performance.
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