1 REIT Just Delivered a Huge Earnings Beat
Three months ago, Simon Property Group (NYSE: SPG) reported solid first-quarter results, demonstrating that the COVID-19 pandemic hadn't crushed high-quality malls.
This week, the U.S. mall giant reported even better results for the second quarter. The accelerating recovery makes Simon Property Group a promising turnaround investment -- not to mention a great dividend stock.
Simon Property Group's portfolio net operating income (NOI) surged 32.5% year over year in the second quarter. Excluding income from the 80% stake in Taubman Realty Group that Simon acquired last December, Simon's NOI increased 16.6% year over year.
Source Fool.com
