Buy My Top 2 High-Yield Dividend Picks For 2021

I expect Simon Property Group to be a leading beneficiary of a reopening economy, with vaccinated shoppers ready to hit the malls again. During 2020, Simon focused on strengthening its retailer relationships, including taking equity stakes in several that faced bankruptcies. As in-person shopping results, Simon will benefit from both full occupancy rental payments and share in some tenants’ profits.

For full-year 2020, SPG will report an FFO of about $9.00 per share. This amount will be down 25% from 2019, but that puts the company in a great position to grow the dividend as the FFO returns to normalized levels.

As we advance, I expect SPG to return to its status as one of those excellent dividend growth companies, with a 6% yield and double-digit annual dividend growth. In a few years, buying SPG for $80 per share will look like the post-pandemic deal of the decade.

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