Insider Activity Report: Simon Property Group (SPG)

Six directors bought at least $25,000 in shares of Simon Property Group (SPG) in late September, ranging from 239 to 580 shares, or a cost of $26,300 to $63,823. Each of the directors who bought added 1-2 percent to their total holdings.

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  • Company directors have also been direct buyers of shares at the end of the second and first quarters of the year. There have been no insider sales over the past two years.

    Overall, company insiders own 0.9 percent of shares.

    The retail and mixed-used real estate investment trust (REIT) is up about 9 percent over the past year. Earnings have dropped just 2 percent, despite a challenging environment for retail spaces such as malls, and revenues are up 7 percent.

    As a REIT, Simon needs to pay out at least 90 percent of its earnings as dividends. At current prices, shares yield about 7.1 percent.

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  • Action to take: Investors may want to hold off for a few weeks, given the current market sensitivity to interest rates. A bottom is likely closer to the middle or end of the month.

    For traders, shares have been taking a steep dive in recent sessions. The November $95 puts, last going for about $1.55, could see mid-to-high double-digit gains on a further slide in the coming weeks.


    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 of the companies mentioned in this article.


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