Down 26% and 36%, These Dividend Stocks Could Be Picking Up Steam
The stock market hasn't been very forgiving to dividend-paying real estate investment trusts (REITs) this year. Interest rate pressures and general economic uncertainty have pushed many REIT stocks down 20% or more. And while the general real estate market may be slowing, several REITs are starting to pick up steam.
Simon Property Group (NYSE: SPG) and Extra Space Storage (NYSE: EXR) have dividends yields that dwarf the S&P 500 average. Despite being down 26% and 36% respectively, here's why these dividend stocks could soar in 2023.
Simon Property Group is the largest mall operator in the world, having interests and ownership in 230 high-end shopping malls and outlet centers across the U.S., Asia, and Europe. Malls were absolutely hammered during the height of the COVID-19 pandemic when in-store shopping practically ceased overnight. Retailer after retailer closed its doors in the months that followed and many filed for bankruptcy.
Source Fool.com
