Simon Property Group

Simon Property Group is the largest owner of shopping malls and premium outlets in the United States, structured as a REIT. Its high-quality properties in strong markets have proven more resilient than the wider retail sector, and the company also holds stakes in retailers and international outlet developments. Simon has paid dividends for more than three decades and, as a REIT, distributes the bulk of its taxable income, giving it a higher yield than most equities. It cut the payout during the pandemic but restored and grew it as foot traffic and rents recovered. It offers a substantial, income-oriented distribution tied to the health of physical retail.