Why Mall REITs Simon, Tanger, and Macerich All Scored Big Gains in April
Shares of giant mall real estate investment trust (REIT) Simon Property Group (NYSE: SPG) jumped 22% in April, according to data from S&P Global Market Intelligence. Smaller peer Macerich (NYSE: MAC) rose even more, gaining 33%. And factory outlet specialist Tanger Factory Outlet Centers (NYSE: SKT) turned in an eye-popping 50% monthly gain.
The only problem for investors is that the impressive April gains haven't nearly made up for the losses this trio has seen so far in 2020: Tanger is off by 56%, Simon is lower by 59%, and Macerich pulls up the rear with a 74.4% drop. There's obviously a bigger story going on.
The bear market early in the year was one reason why mall real estate investment trusts have fallen so hard this year. The quick market turnaround in April, after a dismal March, was part of the reason for the strong gain last month. But these aren't the only factors at play, with changing industry dynamics really providing a better backdrop for the gyrations being seen today.
Source Fool.com
