2 Industry-Leading Stocks That Are Dirt-Cheap Right Now
The stock market is off to a good start in 2023, but there are some stocks that are still trading for extremely attractive valuations. Here are two industry-leading companies, both of which have lots of growth potential, that look especially attractive after their recent earnings.
Many investors believe that shopping malls are dying off, and it might be true when it comes to the lower-end community shopping malls. However, Simon Property Group's (NYSE: SPG) earnings show that the higher end of the mall business is doing quite well.
Simon, which owns a portfolio of high-end malls (including those under the Mills brand) and has the largest share in the outlet industry with its Premium Outlets brand, reported net operating income growth of nearly 6% year over year at its domestic properties. Occupancy increased by 150 basis points to 94.9% year over year, and base rent grew by 2.3%. And it's not a surprise Simon has been able to keep demand high for its properties -- in 2022 retail sales at Simon's malls increased by 5.6% compared with 2021.
Source Fool.com
