Through its subsidiary partnership, Simon Property owns or has an interest in about 230 properties in the United States and Asia. The company also has a 28.9% interest in Klepierre, a European REIT with over 260 shopping centers in 13 countries.
Simon Property stock comes with a 6.11% distribution. Morgan Stanley’s price target of $133 is well above the $126.40 consensus target and the most recent close at $112.84.
Vornado Realty Trust
Sporting a sizable dividend and offering investors a great inflation-hedging real estate play, this top stock is an incredible buy now. The Vornado Realty Trust (NYSE: VNO) portfolio is concentrated in the nation’s key market New York City, along with additional premier assets in both Chicago and San Francisco. It is the real estate industry leader in sustainability policy, owning and managing over 23 million square feet of LEED-certified buildings.
The company posted very solid results last week, as funds from operations (FFO) and revenues beat Wall Street estimates. Another very positive metric for the company was that, on a year-over-year basis, FFO per share and revenues grew 20.3% and 19.7%, respectively.
Investors receive a 6.98% distribution. The target price for Vornado Realty Trust stock at Truist Financial is $34. The consensus target is $31.80, and shares closed at $29.54 on Wednesday.
These are seven of the top S&P 500 stocks, and all offer investors outstanding entry points, the biggest dividends in the venerable index, Buy ratings at top Wall Street firms, and a reasonably strong moat around their businesses.
We are in one of the worst economic periods in America in decades. Profligate government spending, combined with a Federal Reserve that never saw the wave of inflation coming until it was too late (and even admitted it) and now is forced to raise interest rates at a historical pace. With that in mind, buying stocks that will pay dependable dividends until this mess is sorted out makes total sense now.
Note that Devon and Pioneer Natural Resources use variable dividend programs, so it is very possible their big dividends could be lower at some juncture. The other five will pay consistent and, in most cases, well above-average dividend yields that are very dependable.
Originally posted at 24/7 Wall St.
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