Congresswoman Victoria Spartz Recently Traded this REIT

Per CapitolTrades.com, a data platform offering insights on politicians’ trades, Victoria Spartz, an American politician and a U.S. representative from Indiana’s 5th congressional district, recently traded shares of Simon Property Group (NYSE:SPG). According to the data, Spartz has bought this REIT (Real Estate Investment Trust) twice since April. 

Using TipRanks’ data, let’s look at what analysts recommend for SPG stock.

Is Simon Property Group a Good Stock to Buy?

Simon Property operates as a REIT that owns premier shopping, entertainment, dining, and mixed-use real estate assets. Its premium properties, disciplined investment, improving base rent, high occupancy, and solid development and expansion projects bode well for future growth. 

The company recently announced its first quarter financial results, wherein its base rent and occupancy improved year-over-year. Further, it increased its dividend by 8.8% to $1.85 per share. 

Following the Q1 earnings, Goldman Sachs analyst Caitlin Burrows reiterated the Buy recommendation on SPG stock. Burrows expects SPG’s higher core portfolio net operating income and “external growth” will act as earnings tailwinds. 

Including Burrows, SPG stock has received eight Buy recommendations. Meanwhile, four analysts have a Hold. Overall, Simon Property has a Moderate Buy consensus rating on TipRanks. Further, analysts’ average price target of $133.68 implies 25.82% upside potential. 

Bottom Line

Following the trades of politicians could help retail investors make informed investment decisions. Moreover, investors can leverage TipRanks’ Experts Center tool to keep a tab on analysts’ recommendations and hedge funds and insiders’ activities. As for the SPG stock, macro weakness keeps analysts cautiously optimistic about the stock. However, its high occupancy and increase in base rents are positives.

Disclosure