Is Simon Property Group Stock a Buy?
Shares of Simon Property Group (NYSE: SPG) have gained 16% in the past 12 months, which is in line with the 16% gain of the S&P 500 index during that time.
After such strong performance, this raises the following question: Should investors seeking outsized dividend income buy Simon? Let's look at the company's fundamentals and valuation to decide.
As the world evolves technologically and economically, consumer preferences are constantly evolving with it. A survey conducted by the experiential advertising agency Momentum Worldwide in 2019 found that three-quarters (76%) of consumers preferred to spend money on experiences over material possessions. Such a trend should bode well for Simon: The real estate investment trust (REIT) has its pulse on the desires of the millions of consumers who frequent its 250-plus top-notch mall properties in 14 countries. This is how the company had the wherewithal to begin greatly transforming its malls years ago by adding attractions more appealing to consumers like aquariums, food courts, and restaurants.
Source Fool.com
