2024-05-10 08:00:00 ET
Summary
- Simon Property Group has shown strong growth year-over-year and is a resilient REIT despite challenging economic conditions.
- SPG reported a strong Q1, with FFO increasing double-digits for the full-year and beating revenue expectations.
- The company has made new developments and renovations to retain and attract customers, and has raised its dividend, making it an attractive long-term investment.
- Management also raised guidance and expects FFO in a range of $12.75 - $12.90, and a growth rate of roughly 2.5% at midpoint.
- If the economy falls into a recession, SPG will likely see a decline in sales 7 foot traffic at its locations, resulting in lower FFO & revenue growth.
Introduction
Simon Property Group ( SPG ) is a favorite of mine that I don't currently hold in my portfolio, and the only reason I don't own them is that I've been focusing heavily on building my existing positions. If not for that, SPG would most certainly be a core holding within my portfolio. I think they are a great, long-term investment for those seeking dividend growth....
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For further details see:
Simon Property Group: Still A Buy For Long-Term Dividend Growth Investors