Oct. 14 at 7:15 PM
$SPG While the average American is financially struggling, the top 10% account for 50% of all spending. With the holiday shopping season just around the corner, the financially upper-crusted are gonna want to spend some of their massive stock market gains at the biggest, best, and best-located shopping centers in their respective locales. Of course, nearly ALL of those are either Simon or Macerich
$MAC joints.
Furthermore, note that Simon collects from each tenant, on top of the base rent, a percentage of profits above a certain threshold. Q4 earnings should be chock full of those extra profits. Consider, for example, what they’ll get from Apple, alone, especially given the recent iPhone refresh.