Simon Property Group has raised its dividend for nine consecutive years, making it a Dividend Challenger on the precipice of becoming a Dividend Contender with its next dividend raise.
In spite of the challenging retail environment, Simon Property Group's operating fundamentals remain stable.
Adding to the case for an investment in Simon Property Group is the fact that the company is trading at a 12% discount to fair value.
Between its 5.8% yield, 4-5% annual FFO growth, and 1.3% annual valuation multiple expansion, Simon Property Group is likely to deliver annual returns in excess of 10% over the next decade.
This prompted me to initiate a position in SPG that I plan to build upon over the next few years.
Source: I Prefer Income Filter
Given that there are hundreds of dividend growth and high yield stocks and I am an investor that focuses on both dividend growth and high yield stocks, it is important