Simon Property Group director Nina Jones acquires shares worth $3,540

Investing.com

Published Jan 02, 2025 13:04

Simon Property Group director Nina Jones acquires shares worth $3,540

Nina P. Jones, a director at Simon Property Group Inc. (NYSE:SPG), a prominent retail REIT with a market capitalization of $64.72 billion and an impressive 31-year track record of maintaining dividend payments, recently acquired 21 shares of the company's common stock. According to InvestingPro , which covers this and 1,400+ other top US stocks.

In other recent news, Simon Property Group has seen significant developments. Jefferies analysts upgraded the company's stock from Hold to Buy, citing strong revenue growth and projected increases in occupancy rates. They predict the company will surpass pre-pandemic occupancy levels by the fourth quarter of 2025. Additionally, the company's same-store net operating income (SS NOI) has increased by 4.8% year-to-date in fiscal year 2024, which Jefferies finds attractive.

On the other hand, Deutsche Bank (ETR:DBKGn) initiated coverage on Simon Property Group with a Hold rating. While acknowledging the company's comprehensive real estate offerings and strong balance sheet, concerns over the impact of tariffs on trading multiples across the mall sector led to this rating.

In the company's third quarter earnings call, Simon Property Group reported a 4.8% year-over-year increase in real estate funds from operations (FFO) per share, and a 10.5% increase in dividends from the previous year. Despite a non-cash loss related to Klépierre exchangeable bonds, the company maintained strong occupancy rates and leasing momentum. These recent developments provide insights into Simon Property Group's current position and future prospects.

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