Doubling your money in the stock market isn't as hard as it may sound, especially following a massive bear market. After the stock market crashed in mid-March 2020 at the start of the COVID-19 pandemic, a number of worthwhile companies, including real estate investment trusts (REITs), could be purchased at a major discount.

Now, over a year later, the market is back, in big ways. This means investors who capitalized on the investment opportunity are reaping big rewards. While there are still plenty of opportunities to double your money in the coming years, these three REITs would have doubled your money over the past year.

Three REITs that would have doubled your money in 12 months

To be included on the list, the company had to be a publicly traded REIT with a market cap of at least $250 million at the time of this writing and provide a 100% or greater return in the past year.

Data source: Tanger Factory Outlet Centers, Plymouth Industrial REIT, Simon Property Group, and S&P 500 figures.

As you can see from the chart, these REITs are across different sectors within the commercial real estate (CRE) industry, each of which is experiencing its own unique challenges and opportunities that are driving each company's growth.

Opportunistic buys could have yielded triple-digit returns

The retail sector was extremely hard-hit by the pandemic. Brick-and-mortar stores suffered from a virtually overnight halt in customers, demand, and operations. Initial concerns over the future of the pandemic, and how the retail sector would fare, caused share prices to remain deflated for a longer period of time. Now that interest is returning to in-store shopping, many of the retail operators that were in serious trouble are in the black once again.

Tanger Factory Outlets, the highest earner among our list of top REITs over the past year, has seen share prices go from $9.50 to $21.40 from November 2020 to now. The company, which specializes in outdoor outlet malls, noted in its Q3 2021 earnings report that tenant sales and customer traffic have returned and even exceeded pre-pandemic levels.

The company still has a ways to go, considering it's still operating at a net loss of $0.05 for the full year 2021, but it's a significant improvement from the $0.40 per share this same time last year.

Simon Property Group, the largest mall operator in the world, has also made an incredible comeback over the past year, growing from $85.41 per share to $167.99. The pandemic hit retail extremely hard, but malls felt the worst of it. But as with Tanger Factory Outlets, customer traffic and demand are returning to malls. Funds from operations and net operating income are both up significantly year over year.

Plymouth Industrial REIT is on the complete opposite spectrum of REITs discussed here today. Unlike retail, industrial real estate demand has grown beyond all expectations. Supply-strained markets and increased demand for e-commerce has driven occupancy and rental rates for warehouse and distribution centers to record highs.

Plymouth Industrial REIT is a diversified industrial REIT, with ownership and interest in warehouse and logistic centers, but also light industrial and small-bay industrial properties in secondary markets. Its strategic yet diversified portfolio makeup has allowed it to outpace its competitors in terms of return and share price growth, an impressive accomplishment given the run industrial real estate is seeing today.

Image Source: Getty Images.

Can these companies double your money again next year?

All of these REITs were opportunistic buys over this past year, meaning the company was trading at a significant discount in relation to its portfolio quality or performance. Share prices for these REITs are trading far closer to the value they're delivering in the market today. Growth opportunities still exist for several of these REITs, but it's unlikely you'll see your money double in a year again with these three REITs.

Instead, you need to look to existing opportunities in the marketplace that allow added value and future growth. There are always opportunities for growth in the market, even when the market is up. The key is knowing where they lie. Staying informed of trends and happenings in the marketplace will allow you to be able to take advantage of opportunities, now and in the future.

10 stocks we like better than Tanger Factory Outlet Centers
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now... and Tanger Factory Outlet Centers wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of November 10, 2021

Liz Brumer-Smith has no position in any of the stocks mentioned. The Motley Fool recommends Tanger Factory Outlet Centers. The Motley Fool has a disclosure policy.