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URL: https://boards.fool.com/i-had-purchased-skt-in-the-30s-then-i-sold-out-34149749.aspx
Subject: Re: Brad Thomas is really bullish on SKT	Date: 3/5/2019 9:13 AM
Author: coolprash	Number: 84528 of 86498
I had purchased SKT in the 30s, then I sold out early this year. Why? - Management is great - Headwinds of economy, internet, location - People are moving to City Centers, away from suburbia and this bodes ill for SKT. - Most of their renters are for goods that suffer from internet competition, reducing SKT's pricing power. - In the event of a recession, I could see the dividend yield spiking to 10% on SKT. - Dividend growth shouldn't be great. - Difficult to see alternate purposes for their outlet centers. A city center store could with som effort become an office, or condo. City Malls/Shopping Centers could become multipurpose areas with some residential, office, retail etc. What do you do with something that's 20 miles from major city centers? I still love the company and have great respect for the management, unfortunately I have come to the conclusion that there are too many headwinds from the economy, demographic and social changes for SKT to be a decent investment going forward. I'd rather invest in BRX or KIM.
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