Indiana's 5th district representative, Victoria Spartz, has made a significant transaction in Simon Property Group, Inc. (NYSE:SPG), according to a recent congressional trade report. The transaction, which was a partial sale of her holdings, occurred on September 20, 2024.
The report reveals that the sale was within the range of $1,000,001 to $5,000,000. This transaction was made from a Charles Schwab (NYSE:SCHW) Roth IRA account, owned by Spartz. The sale of stocks in Simon Property Group, a commercial real estate company, represents a notable move by the congresswoman.
The report also notes that this transaction was made by Jason Spartz's Roth IRA. It's not uncommon for congress members to manage investments through various types of accounts, including Individual Retirement Accounts (IRAs) like this one.
As the representative for Indiana's 5th congressional district, Spartz's financial dealings are a matter of public record. This disclosure is part of the requirements under the STOCK Act, which mandates that members of Congress disclose their transactions to maintain transparency in their financial dealings.
Simon Property Group, Inc. is a global leader in the ownership of premier shopping, dining, entertainment, and mixed-use destinations. Its properties
InvestingPro Insights
Representative Victoria Spartz's significant sale of Simon Property Group (NYSE:SPG) shares comes at a time when the company's stock has shown strong performance. According to InvestingPro data, SPG has delivered an impressive 53.99% total return over the past year, and is currently trading near its 52-week high at 97.78% of that peak.
The company's financial health appears robust, with a market capitalization of $65.03 billion and a revenue of $5.91 billion over the last twelve months as of Q3 2024. SPG has maintained a solid dividend yield of 4.76%, with an InvestingPro Tip noting that the company has raised its dividend for 3 consecutive years and has maintained dividend payments for an impressive 31 consecutive years.
However, investors should be aware that SPG is trading at a high Price/Book multiple of 24.28, which could indicate the stock is relatively expensive. Another InvestingPro Tip suggests that the stock price movements are quite volatile, which may have factored into Representative Spartz's decision to partially divest.
For those interested in a deeper analysis, InvestingPro offers 9 additional tips for Simon Property Group, providing a more comprehensive view of the company's financial position and market performance.
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