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Attention, Shoppers: These Mall Stocks Are Bargains

Forget subprime -- there are still solid real estate investments out there, says Jonathan Litt, real estate investment trust (REIT) analyst at Citigroup.

Litt urges investors to put aside risky mortgage lending that's "grabbing headlines." He advised investors to focus on the real-estate companies with dependable revenue streams -- namely, thriving shopping malls.

He praised Alexander's and Simon Property Group, which owns "some of the most productive malls" in the United States.

But Litt does urge care in choosing the mall stocks, acknowledging that the first half of 2008 is going to be "hard" for REITs. "I would sell" ProLogis and Developers Diversified Realty, he said.

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