Looking for a good buy? Want a steady consistent dividend? Add $SPG ( ▼ 0.7% ) to your long term. How do malls fit in to the AGI/Tech revolution? It doesn’t. Simon Property group is old money, managed and run by old money. When covid happened, and JCPenny went under, Simon decided to outright buy it for pennies on the dollar. This secured one of their biggest partners and prevented a lot of Simon space from going empty. They also turned JCPenney around to provide its shoppers with a quality shopping experience compared to how it was run prior.
Big money says retail space is dead because of competitors like Amazon moving physical goods. Simon though, offers more than retail space. They offer opportunity. Rejected Insider is for entrepreneurs. You reading this yourself, are an entrepreneur. Simon has something for us, it’s called opportunity. Entrepreneurs will always need space, not all, but enough to provide enough rent for Simon to keep its dividends flowing. Even if tenants roll in and out of spaces, Simon simply has to stay open to keep the well open. There will always be new tenant, new ideas, and new opportunities. Simon Property Group is one of the best ones at 204. The stock could go a little lower, so average in before traction gains and this thing is lingering above 220.
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