With the market up near all-time highs, it’s getting hard to find cheap stocks, but you can do it if you look in the right places. Right now, that includes retail landlords like Simon Property Group (NYSE: SPG) and Federal Realty Investment Trust (NYSE: FRT), as well as net lease player W.P. Carey (NYSE: WPC). The first two will probably take a strong stomach to own, but the third is a real estate investment trust (REIT) even the most conservative investor could easily love. Here’s a quick rundown on each.
A giant in the hard-hit mall sector
Simon Property Group owns around 200 enclosed malls and outlet centers. The coronavirus has not been kind to its business, with the REIT collecting just 85% of the rent owed in the third quarter. Funds from operations (FFO), which is like earnings for an industrial company, was off by 33% year over year