Shares of this leading company have been pounded and are offering the best entry point since last year. Simon Property Group Inc. (NYSE: SPG) is a very strong company for investors looking to play the industry. It invests in real estate markets across the globe. It engages in investment, ownership, management and development of properties. The company primarily invests in regional malls, premium outlets, mills and community/lifestyle centers to create its portfolio.
Through its subsidiary partnership, Simon Property owns or has an interest in about 230 properties in the United States and Asia. The company also has a 28.9% interest in Klepierre, a European real estate investment trust with over 260 shopping centers in 13 countries.
Shareholders receive a 5.46% distribution. The Simon Property stock price target at Deutsche Bank is $170. The consensus target of $163.82 is also well above Wednesday’s close at $124.58.
Vornado Realty Trust
Sporting a sizable dividend and offering investors a great inflation-hedging real estate play, this top stock is an incredible buy now. The Vornado Realty Trust (NYSE: VNO) portfolio is concentrated in the nation’s key market New York City, along with additional premier assets in both Chicago and San Francisco. It is the real estate industry leader in sustainability policy, owning and managing over 23 million square feet of LEED-certified buildings.
The company posted strong results and beat the Wall Street estimates for the quarter that ended March, as signage and building services income improved. Madison Square Gardens’ 428,000 square foot renewal at the PENN2 redevelopment has driven strong leasing spreads. Occupancy and same-store net operating income also improved.
Shareholders receive a 5.48% dividend. The Truist Financial price target is $46. The consensus target is $44.36. The final Vornado Realty Trust stock trade on Wednesday was at $38.12.
These seven stocks should all hold up better in a sharp sell-off than high-beta momentum stocks will. They all provide goods and services that are needed or wanted almost regardless of prevailing economic conditions, and all are very strong players in their respective sectors.