Fundamentals for European shopping mall REITs have improved dramatically and they are coming out of a 9 year old long bear market, now appearing to break out out a consolidation pattern formed in the past 3 years.
What initially started as revenue cannibalization and retail death due to e-commerce was followed by COVID, and then a perfect storm of higher interest...
The share price has broken out after 3 years of consolidation, making new ATHs in modest increments.
Things are turning bullish for the sector, which has been in the doldrums for the last 4 years, first hit with COVID, then consumers hit with double whammy of high electricity prices and higher interest rates, following markdowns of fair values of real estate...