1 REIT That Could Blow Q4 Out of The Water
Simon Property Group (NYSE: SPG) is one of the largest mall landlords in the world, which was a terrible place to be in 2020 when the pandemic hit. But as the end of 2021 approaches, things are starting to look very different. Here's why and what that could mean for the final quarter of the year.
Although this is something of a well-trodden story at this point, 2020 was ugly for a lot of companies because of the coronavirus pandemic. Simon owns about 200 or so enclosed malls and outlet centers, which put it at the center of the storm. When governments around the world effectively shut their economies down to help slow the spread of COVID-19, traffic and sales at Simon's properties fell off a cliff. In fact, many of its malls were simply closed because they were considered nonessential businesses.
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Source Fool.com
