Why Simon Property Group, Macerich, and Tanger Factory Outlet Centers All Rose 15% or More in June
Shares of mall-focused real estate investment trust (REIT) Macerich (NYSE: MAC) rose an impressive 31% in June, according to data from S&P Global Market Intelligence. Stock for industry bellwether Simon Property Group (NYSE: SPG) advanced 18.5%, while outlet center owner Tanger Factory Outlet Centers' (NYSE: SKT) stock jumped just under 16%.
That said, those monthly gains were well off the highs each reached in early June. For example, at one point Macerich's stock had risen by more than 90%, with Simon and Tanger both up around 60% or so. From those peaks, the stocks are actually down 31%, 28%, and 26%, respectively. And that's just one month!
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Source Fool.com
