Simon Property: The Upside Is Still Attractive, So It's A Buy
SPGSimon Property(SPG) Seeking Alpha·2024-01-23 22:00
PM Images Simon Property Group (NYSE:SPG) is back to pre-pandemic levels, and despite appreciating by 35.47% ($37.08) since October 27th, I still think there is an opportunity here. While shares of SPG aren't as heavily discounted as they were in the middle of 2023, there could still be value to be extracted as SPG trades at 12.12x its funds from operations (FFO) per share and pays a 5.37% dividend yield. I believe that REITs could be a big beneficiary in 2024 due to a rate easing cycle as the worry abo ...