This Is the Next REIT Stock I'm Buying
The economic shutdowns used to slow the spread of the coronavirus have upended the real estate investment trust (REIT) sector. Some niches have thrived, while others have languished. Today I'm looking at potentially buying stock in Simon Property Group (NYSE: SPG), which operates in the hard-hit mall space.
That's not as crazy as it seems. Here's why.
I owned real estate investment trust Simon Property Group as 2020 started, believing it would be a survivor of the overhyped "retail apocalypse," the slow-moving shakeout taking place in the retail sector as retailers that didn't keep up with changing customer desires (including, but not limited to, online shopping) fell to the wayside. Compounding that problem, many retailers had taken on excessive leverage. Once-proud names were descending into bankruptcy, and others were downsizing their operations by closing stores.
Source Fool.com
