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Monica Wolfe
Monica Wolfe
Articles (757) 

Simon Properties Reports Insider Trades

March 13, 2013 | About:

In the past week two directors of Simon Property Group Inc. (SPG) have invested nearly $300,000 in SPG shares.

Last Wednesday, March 6, Larry Glasscock made a small insider buy of 147 shares at $162.67 per share for a total amount of $23,913. Also on March 6, Allan Hubbard bought 156 shares at $162.89 for a total purchase amount of $25,426. Yesterday, Glasscock made a significantly larger purchase of 1,500 shares at $159.99 per share. His transaction amount equaled 239,985. This marks the third insider buy for Glasscock.

Larry Glasscock has been a director of Simon Property Group since 2010. Prior to Simon Property, Glasscock was the Chairman of WellPoint Inc. (WLP). Glasscock also currently serves as a director for Zimmer Holdings (ZMH), Sprint Nextel Corporation (S) and Sysco Corporation (SYY).

Allan Hubbard is the CEO of E&A Industries, a privately-held holding company that acquires and operates already established manufacturing companies. Hubbard served as Assistant to the President for Economic Policy and director of the National Economic Council during the George W. Bush Administration. Hubbard also serves as a director of PIMCO Equity Series VIT. Hubbard has been a director for Simon Property since 2009.

Simon Property has its headquarters in Indianapolis, Ind., and is the largest real estate company in the world with 325 retail real estate properties in the US and Asia. Simon Properties has been ranked No. 1 as Fortune Magazine’s most admired real estate company. Simon Property has a market cap of $50.03 billion.

Simon Properties had a pretty successful 2012. Funds from operation (FFO) from 2012 were $2.885 billion, or $7.98 per diluted share, in comparison $2.439 billion, or $6.89 per diluted share in 2011. The net income attributable to common stockholders for the year was $1.431 billion, or $4.72 per diluted share, as compared to $1.021 billion, or $3.48 per diluted share, in 2011.

“I am very pleased with our strong fourth quarter results, capping off an excellent year for our company,” said David Simon, chairman and CEO. “Our Mall and Premium Outlet portfolio delivered 4.8% growth in comparable property net operating income for the year. We continued to strengthen our retail real estate platform through our investment activities. We are also pleased to raise our dividend for the sixth consecutive quarter.”

Six Gurus followed by GuruFocus currently have shares in Simon Property. For more information on these Gurus and their shares look at Simon Property Guru Trades.

With its shares down 0.08% this afternoon, Simon Property Group trades at $159.40.

For more information on Simon Property’s insider trades, look at Larry Glasscock’s Market Overview and Allan Hubbard’s Market Overview.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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GuruFocus has detected 4 Warning Signs with Simon Property Group Inc $SPG.
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