Feb. 6 at 6:46 PM
$SPG The last time this stock has seen
$200 was nearly a decade ago. Since then, David Simon and his team has masterfully navigated the Covid-era “malls are dead” narrative and emerged as the crowned victor from a sea of industry wreckage. In fairness, most malls ARE dead… just not the BEST malls. And the best malls are mostly owned by Simon (and, on a smaller scale, by Macerich/MAC).
While not quite a household name, Simon Property Group is the quintessential 800-pound gorilla of “Class A” shopping centers/malls, owning and running over 190 such properties in the U.S. (230 in total, including Europe and Asia).
When you consider all the gains that the top 10% of richest Americans have been making in the stock market in recent years, you might consider also that a non-trivial proportion of those gains that many of those people earmark for discretionary spending will be spent at a Simon-owned shopping center/mall.
$MAC
