Randall J. Lewis (JO:LEWJ), a director at Simon Property Group (BVMF:SIMN34) Inc. (NYSE:NYSE:SPG), a prominent retail REIT with a market capitalization of $64.8 billion, recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, the stock is currently trading near its 52-week high at $172.43. On December 30, 2024, Lewis purchased 40 shares of common stock at a price of $168.59 per share, totaling approximately $6,743. This acquisition was made through the reinvestment of dividends received on restricted stock awarded as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan. The company maintains a robust 4.88% dividend yield and has maintained dividend payments for 31 consecutive years. Following this transaction, Lewis holds a total of 3,325 shares directly in the company. For deeper insights into insider transactions and comprehensive analysis, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Simon Property Group has seen significant developments in its financial and operational performance. The real estate investment trust recently reported a robust third quarter, with real estate funds from operations (FFO) increasing by 4.8% year-over-year to $3.05 per share. Dividends also saw a 10.5% rise from the previous year to $2.10 per share. This strong performance coincides with Jefferies' upgrade of Simon Property Group's stock rating from Hold to Buy, following an analysis that anticipates growth in occupancy rates and net operating income.
Additionally, Deutsche Bank (ETR:DBKGn) initiated coverage on Simon Property Group with a Hold rating, citing concerns over the impact of tariffs on trading multiples across the mall sector. Despite this, the firm acknowledged the company's comprehensive real estate offerings and strategic focus on merchandising. Both Jefferies and Deutsche Bank's analysis contribute to the recent developments surrounding Simon Property Group.
These updates highlight the company's resilience in the face of market fluctuations and its potential for growth. As always, investors are advised to consider these facts in their assessment of Simon Property Group's future prospects.
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