12 company directors at Simon Property Group (SPG) recently made their quarterly purchases. The buys ranged from a low of 21 shares, costing $3,540, to 465 shares, coming to a cost of $78,394.
These follow up on similar buys from the company directors every three months. The last non-director buy was a 359-share buy from the company CFO for $39,199 back in late 2023. There have been no insider sales over the past two years.
Overall, Simon Property Group insiders own 0.9% of shares.
The owner and operator of shopping centers is up 23% over the past year, returning nearly as much as the S&P 500.
Retail spending has been mixed overall, but investors have stopped seeing big declines at venues such as malls. Simon saw earnings drop 20% overall, but revenues were able to rise by 5% in 2024. As long as cash continues to come in, Simon’s shares can likely continue to follow its current trend higher.
Action to take: Shares are still in a strong uptrend, and recently had a healthy pullback from 52-week highs. It’s likely those highs will be retested in the months ahead.
Today’s buyers can also lock in a 4.8% dividend while waiting on capital gains.
For traders, the April $185 calls, last trading for about $4.15, could see mid-double-digit returns or better if shares quickly look to re-test their 52-week highs.
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.