No. of Recommendations: 3
^^ Targets; $110, $100, $90.
If they manage not to cut dividends in a downturn, their yield could be 8-9% or more at those prices, too.^^
Nice catch if yours to have the guts to purchase commercial real estate during COVID. Nifty timing. As the saying goes, buy on fear, sell on greed.
Yet now it has probably reached mild fear from super fear when you purchased, as evident in the yields still strong today.
Yields above bonds but capital gains (and rent increases) on top even if rent prices merely track inflation. So the targets you are after might be unlikely - I like your observation that Simon proved it can handle the worst real estate conditions in a lifetime and still pumping out dollars as before the crisis, as if nothing happened if cameras were off the last few years as we just jumped from 2019 til 2024.
