Larry C. Glasscock, a director at Simon Property Group Inc. (NYSE:SPG), recently acquired 349 shares of the company's common stock, valued at approximately $58,837. The shares were purchased at a price of $168.59 each on December 30, 2024. The stock currently trades at $172.60, representing a modest gain since the purchase. According to InvestingPro, Simon Property Group boasts a robust market capitalization of $64.7 billion and maintains an impressive 4.9% dividend yield. This acquisition was made through the reinvestment of dividends on restricted stock awarded as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan. Following this transaction, Glasscock holds a total of 41,077 shares directly. InvestingPro analysis reveals the company has maintained dividend payments for 31 consecutive years and currently holds a "GREAT" overall financial health rating. For comprehensive insider trading patterns and 8 additional ProTips, subscribers can access the full Simon Property Group Pro Research Report.
In other recent news, Simon Property Group has been the subject of several recent analyst actions. Jefferies upgraded Simon Property Group from Hold to Buy, citing strong revenue growth of 6.83% over the last twelve months and an anticipated increase in occupancy rate to 96.7% by the fourth quarter of 2025. This upgrade is backed by the company's strong net operating income and an attractive dividend yield of 4.88%.
On the other hand, Deutsche Bank (ETR:DBKGn) initiated coverage on Simon Property Group with a Hold rating, expressing concerns over the impact of tariffs on trading multiples across the mall sector. Despite these concerns, Deutsche Bank acknowledged the company's comprehensive real estate offerings and over $1 billion in current development and redevelopment efforts.
In earnings news, Simon Property Group reported a solid financial performance for their third quarter. The company's real estate funds from operations rose by 4.8% year-over-year to $3.05 per share, and dividends saw a 10.5% increase from the previous year to $2.10 per share. These recent developments offer investors a snapshot of the company's current position within the real estate market.
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