Buy This Stock Before Wall Street Wakes Up
Mall landlord Simon Property Group (NYSE: SPG) is still down 18% from where it started out in 2020, and 36% from its recent highs in 2018. This at a time when the broader stock market, despite the recent pullback, is hovering near an all-time peak. There are compelling reasons to be worried, but also some very real reasons to believe that this real estate investment trust (REIT) is about to start rewarding investors again. Here's why you should take a deep dive here before the rest of Wall Street wakes up to the opportunity.
The growth of online shopping has some worried that physical shopping is on the way out. The problem with this narrative is that humans are social creatures and going shopping is something that many people just like to do. For evidence of that, mall REIT peer Tanger Factory Outlet Centers recently noted in its first quarterly 2021 earnings update that April foot traffic at its largely outdoor facilities was higher than in 2019. Clearly people are once again becoming comfortable shopping in person.
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Source Fool.com
