Jim Cramer on Simon Property Group: “Terrific Record, Buy It”

Simon Property Group, Inc. (NYSE:SPG) was among the stocks Jim Cramer highlighted during Mad Money, as he noted the rotation into defensive sectors. Cramer highlighted the stock’s yield, as he said:

… Simon Property Group. The late great David Simon put together the best collection of shopping malls in America. The stock now yields 4.15%. Terrific record, buy it.

Photo by Nicholas Cappello on Unsplash

Simon Property Group, Inc. (NYSE:SPG) is a real estate investment trust that owns, develops, and manages shopping, dining, entertainment, and mixed-use destinations, including malls and outlets. During the “Am I Diversified” round on the January 16 episode, a caller mentioned SPG, AMZN, AVGO, LNG, and VICI as their top 5 holdings. In response, Cramer commented:

Wow, you’re diversified, but we may have to do some work anyway, just in terms of a stock I’m worried about. But okay, Cheniere, that’s liquified natural gas. I love that. Simon Properties, we think David Simon’s the best mall operator there is. These are really fantastic. Amazon, we know is retail, but it’s also tech. And Broadcom is the company that makes the chip, by the way, they make the chip for, I don’t know if you knew this, for Google. They do a lot of other things too, but they’re a tech company, mostly semis. And then VICI is the one I’m worried about. They’re a REIT that I don’t like the properties of… And we have two REITs, so let’s get rid of VICI. I want to add J&J. We will put that in there because you need a healthcare company, and then you’ll be fine. But that must be done, okay? I wish it were earlier in the day because I want you to… do that right now.

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