Three Rs for Risk Control: Retirement, Recession and REITs

Finally, not all retail is gonna die. If you don't believe me, ask my five kids. The big malls are unique because you just can't go throw up a $100 million mall anymore. That makes REITs like Taubman Centers (TCO) and Simon Property Group (SPG) irreplaceable.

I also like certain necessity-based REITs like Regency Centers (REG) , Weingarten Realty Investors (WRI) , Excel Trust (EXR) and Retail Opportunity Investment Corp (ROIC) .

Last but not least, who can't like Tanger Factory Outlets (SKT) -- the only "pure play" outlet center REIT with an incredible track record for paying and increased dividends for 20 years in a row. That is what I call a "crown jewel."

Remember what Ben Graham said: "It is the consistency in the products that creates consistency in a company's profits. Consistency and durability are attributes for competitive advantage."

Make sure you consider the REITs with the more lasting differentiation and you are certain to avoid costly mistakes and help you sleep well at night!

At the time of publication the author had no position in any of the stocks mentioned.

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This article was written by an independent contributor, separate from TheStreet's regular news coverage.