12 Best REIT Stocks to Buy Now

5. Simon Property Group, Inc. (NYSE:SPG)

Number of Hedge Fund Holders: 48

Simon Property Group, Inc. (NYSE:SPG) is an REIT that engages in the ownership of premier shopping, dining, entertainment, and mixed-use destinations. The REIT owned or held an interest in 196 income-producing properties in the US, comprising 93 malls, 70 Premium Outlets, 14 Mills, six lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico, as of September 30. Internationally, Simon had ownership in 35 Premium Outlets and Designer Outlet properties primarily located in Asia, Europe, and Canada.

With three decades in operation, Simon Property Group, Inc. (NYSE:SPG) has demonstrated growth, resilience, and innovation in becoming the preeminent owner and operator of best-in-class retail real estate properties, with scale. Simon’s portfolio remains differentiated by product type, geography, and tenant mix. This portfolio includes properties like shopping centers, many generating $100 million or even higher in annual NOI. No other real estate type can match the longevity, embedded future growth, and NOI generation of these centers. Simon is one of the largest landlords to the world’s most important retailers.

The Chief Executive Officer, David Simon, was pleased with the strong financial and operational performance as well as the successful openings of Tulsa Premium Outlets and the expansion of Busan Premium Outlets in Q3 2024. Funds From Operations (FFO) was $1.067 billion, up from $1.201 billion in the prior year. Year over year, Domestic property NOI climbed 5.4% and portfolio NOI rose 5%.