Insider Activity Report: Simon Property Group (SPG)

Reuben Leibowitz, a director at Simon Property Group (SPG), recently added 536 shares. The buy increased his holdings by 1 percent, and came to a total cost of $61,100.

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  • He was among 11 company directors who picked up shares in the past week, and bought the largest amount. The smallest amount for a mere 28 shares valued at $3,252. All directors increased their stake by 1-2 percent. They also made the same move at the end of March.

    There have been no insider sales over the past two years. Overall, company insiders own 0.9 percent of shares.

    The retail real estate investment trust (REIT) is up over 15 percent in the past year. Amid a rising interest rate environment, Simon managed to increase revenues and earnings my mid-single-digits, and kept a fat 40 percent profit margin while doing so.

    Action to take: Shares likely have a bit more upside here, as they’re well off their 52-week high of $133. At current prices, SPG yields 6.5 percent, and there’s been a reasonable history of growth.

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  • For traders, the January 2024 $130 calls, last going for about $3.90, could see mid-double-digit gains on a continued move higher in the second half of the year. If shares break to new highs, the options could see high double-digit returns.

     

    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.