Over the past year, real estate investment trusts (REITs) haven’t been an investor favorite. And due to the downturn in the retail industry, REITs that own malls and shopping centers were hit the hardest.
CBL & Associates Properties, Inc. (NYSE:CBL), for instance, has a portfolio of 119 retail properties totaling 74.4 million square feet. And its share price plunged more than 50% over the last 12 months. Ouch! The thing is, though, due to the inverse relationship between dividend yield and share price, CBL stock’s downturn has pushed its yield up to extremely high levels. Trading at $4.02 apiece, the company offers a jaw-dropping yield of 19.9%.
Source: Income Investors
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