SPG - Why I'll Be Owning Federal Realty Well Into Retirement
Federal Realty (NYSE: FRT) owns a fairly small portfolio of strip malls and mixed-use developments. Although it isn't the biggest name in its sector by any stretch of the imagination, it does have something that no other real estate investment trust (REIT) can offer: the longest streak of annual dividend hikes of any publicly traded REIT. Here's why I came to own Federal Realty and why I'm not planning on giving it up anytime soon.
Pardon the Charles Dickens quote there, but when I look back at 2020, it really was a year filled with dichotomies. For example, I had previously bought Tanger Factory Outlet Centers (NYSE: SKT) believing that the retail apocalypse story was real but vastly overdone. Yes, online shopping is becoming increasingly important, and some predominantly physical retailers have fallen by the wayside. But humans are social animals, and shopping is one of the ways we get together in groups. Given Tanger's long history of success in the outlet-center space, I was confident it would not only survive but also thrive. I also owned Simon Property Group (NYSE: SPG) for similar reasons, but it is a much more diversified mall REIT .
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Why I'll Be Owning Federal Realty Well Into Retirement