In the past week two directors of Simon Property Group Inc. (
) 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. (
). Glasscock also currently serves as a director for Zimmer
), Sprint Nextel Corporation (
) and Sysco Corporation (
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
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