Eleven company directors at Simon Property Group (SPG) have acquired shares recently, with buys ranging from $3,346 to as much as $61,901. The company directors appear to be quarterly buyers, as similar purchases were made at the end of June.
Going further back, the company directors have been steady buyers over the past two years, and the company CFO was also a buyer of $39,199 of shares back in late 2023.There have been no insider sales over the past two years.
Overall, Simon Property Group insiders own about 1% of shares.
The owner and operator of mall and other high-end commercial properties is up 54% over the past year, far exceeding the overall returns of the S&P 500.
Fears of a slowdown in commercial real estate hit shares hard over the past two years, but now things are on the mend. Revenues rose 7% last year, and earnings increased by 2%. More importantly, Simon has a hefty profit margin of 44%. That has allowed the company to rebound more successfully than other commercial and office space-related companies.
Action to take: Shares are in a steady uptrend, so investors can benefit from the continued momentum in shares. Plus, Simon pays a hefty 4.9% dividend.
For traders, the January 2025 $175 calls, last trading for about $4.95, could see mid-double-digit returns on a continued rally into next year.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.