The shopping center/mall REIT sectors has been routed over the last couple of years, as worries about the brick-and-mortar retail space have led to massive share price declines in lower-grade mall operators, while higher quality landlords were punished too — just not as severely.
Over the last three years, Shopping Center REITs have averaged a decline of 3.6% while Regional Malls were down 11%!
Not all of the mall REITs are created equal, though - there are large differences in terms of the quality of the assets that these REITs own, and there are large