Here's Why Simon Property Group and Other Retail REITs Are Soaring on Wednesday

Here's Why Simon Property Group and Other Retail REITs Are Soaring on Wednesday

The stock market was having a very strong day on Wednesday. Mall operators and other retail real estate investment trusts were up by double digits for the day in many cases. Leading mall REIT Simon Property Group (NYSE: SPG) was up by nearly 15% and was the biggest gainer on the S&P 500 as of midday, while outlet mall REIT Tanger Factory Outlet Centers (NYSE: SKT) was higher by just over 10%.