Down 30%, Is This Mall REIT Still a Buy?
As the S&P 500 edges upward after a very rocky year for the broader index, certain stocks are still taking a beating. Simon Property Group (NYSE: SPG), the premier real estate investment trust (REIT) for malls, is one of them. Down 30% year to date, Simon's stock is currently a steal, trading around 9 times its funds from operations (FFO). Yet, the growing concern over the future of malls is giving investors pause and causing many to wonder if this REIT is still a worthwhile buy.
Image source: Getty Images.
As a millennial, the mall wasn't just a place to shop; it was an experience. It was a place to spend an afternoon, meet up with friends, get some exercise, or catch the latest blockbuster movie.
Source Fool.com
