Simon Property Group Director Daniel Smith acquired $56,309 worth of shares via Investing.com
Daniel C. Smith, Director of Simon Property Group Inc. (NYSE: ), a $64.8 billion market cap retail REIT with an EXCELLENT financial health score according to InvestingProrecently acquired additional shares of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, on December 30, 2024, Smith purchased 334 shares at a price of $168.59 per share. This acquisition, valued at approximately $56,309, was made through the reinvestment of dividends received in restricted stock, as part of Simon Property Group, LP’s 2019 Stock Incentive Plan. The company currently offers a dividend yield of 4.88% and has maintained a 31 year consecutive dividend payout . Following this transaction, Smith holds a total of 30,113 shares in the real estate investment trust. InvestingPro subscribers can access 8 additional key insights and a comprehensive analysis of Simon Property Group’s financial indicators.
In other recent news, Simon Property Group has seen a significant development. The company’s third-quarter performance demonstrated a solid financial and operational position, with real estate funds from operations (FFO) increasing 4.8% year-over-year to $3.05 per share, and increasing dividends to $2.10 per share. shareholders, which represents a growth of 10.5%. increase compared to the previous year. Despite the non-cash loss related to the Klépierre convertible bonds, the company maintained strong occupancy rates and leasing momentum.
Analysts at Jefferies upgraded shares of Simon Property Group from Hold to Buy, citing factors such as the resilience of the consumer market and the company’s ability to turn temporary leases into permanent ones. Jefferies also forecast the company’s occupancy rate to rise to 96.7% by the fourth quarter of 2025, surpassing pre-pandemic levels.
However, Deutsche Bank (ETR:) initiated coverage on the company with a Hold rating, expressing concern about the impact of tariffs on multiple retailers in the shopping center sector. This could potentially overshadow the company’s strong underlying business performance. These recent developments provide investors with a snapshot of Simon Property Group’s current position in the property market.
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