5 Best REIT Stocks to Buy Right Now

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

Dividend Yield as of October 24: 6.93%

Simon Property Group, Inc. (NYSE:SPG) is an American REIT that invests in shopping malls and community centers. On August 1, the company hiked its quarterly dividend by 6% to $1.75 per share. This marked the company’s fifth consecutive year of dividend growth. As of October 24, the stock has a dividend yield of 6.93%.

In October, Wolfe Research initiated its coverage of Simon Property Group, Inc. (NYSE:SPG) with a Peer Perform rating, appreciating the company’s consistent earnings growth over the years.

Simon Property Group, Inc. (NYSE:SPG) was a popular stock among elite funds in Q2 2022, according to Insider Monkey’s data. 45 hedge funds owned stakes in the company, up from 35 in the previous quarter. These stakes have a total value of roughly $820 million.

Baron Funds mentioned Simon Property Group, Inc. (NYSE:SPG) in its Q1 2022 investor letter. Here is what the firm has to say:

“Following a share price gain of more than 97% in 2021, we recently trimmed the Fund’s holdings in Simon Property Group, Inc. (NYSE:SPG), the largest and premier mall operator in the U.S. Though we are also tempered by the expectation for modest earnings growth in 2022, we remain optimistic about the company’s long-term prospects. Simon owns A-quality malls in A-quality geographic locations. We expect Simon to benefit from the ongoing economic recovery and believe management is well positioned to acquire real estate assets given its strong balance sheet and low cost of capital.”

You can also take a look at 11 Best Income Stocks to Buy Right Now and 10 Best REIT Dividend Stocks

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