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Posted by
Two Blokes Jun 20 -
Filed in
Stock
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6 views
Simon Property Group, Inc.'s fundamentals look strong, but I believe the market is overlooking long-term e-commerce headwinds and risks of multiple compression. Despite solid rent and earnings growth, I see projected 7-8% returns as inadequate, given secular threats and a highly leveraged balance sheet. I remain skeptical that redevelopment projects can fully offset tenant churn and e-commerce pressures.
