Simon Property (SPG) Stock Analysis

July 16, 2026

This is a peer-relative look at Simon Property (SPG): its performance, risk, profitability, financial strength, dividend, and valuation are each measured against its Equity Real Estate Investment Trusts (REITs) peers, so every number reads in context rather than in isolation.

Company Profile

Simon Property (SPG) is a REIT, a distribution-oriented structure — read its payout ratio and P/E alongside FFO (funds from operations) rather than at face value.

Company profile fields for Simon Property (SPG)
Profile Item	SPG
Name	Simon Property Group, Inc.
Country/Region	United States
GICS Sector	Real Estate
GICS Industry Group	Equity Real Estate Investment Trusts (REITs)
GICS Industry	Retail REITs
GICS Sub-Industry	Retail REITs
Market Capitalization	83.40 billion USD
Currency	USD
Exchange	NYSE
Listing Date	December 14, 1993
Security Type	REIT

Price Performance

Cumulative Growth

SPG

GSPC

Simon Property (SPG) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Simon Property (SPG) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Simon Property (SPG) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
Total Return (1Y)	42.15%	16.50%
Total Return (3Y, Annualized)	28.04%	8.95%
Total Return (5Y, Annualized)	17.74%	2.16%

Risk Profile

Drawdown History

SPG

GSPC

Simon Property (SPG) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Simon Property (SPG) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
Volatility (1Y, Annualized)	19.38%	22.98%
Beta (5Y)	1.31	0.97
Max Drawdown (5Y)	-45.84%	-43.30%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. SPG is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
Sharpe Ratio (1Y)	1.97	0.59
Sortino Ratio (1Y)	3.09	0.88

Profitability

ROE (TTM)

Simon Property (SPG) posts ROE of 113.59%, above the industry benchmark range. Equity is being turned into profit at an exceptional rate, but very high ROE should still be checked against leverage, buybacks, and the size of the equity base.

SPG

Equity Real Estate Investment Trusts (REITs) industry group

113.59%

Group distribution

SPG: 113.59%
Max: 21.85%
Q3: 9.82%
Median: 5.84%
Q1: 1.37%
Min: -9.66%

Largest peers

SPG: 113.59%
AMT: 29.95%
EQIX: 10.06%
PLD: 6.84%
DLR: 5.69%
WELL: 3.67%
O: 2.83%

Where Simon Property (SPG) stands on ROE within its Equity Real Estate Investment Trusts (REITs) peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

net margin is set aside for Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs): heavy depreciation can make net income a poor proxy for cash profitability, so FFO-based measures usually carry the read.

Operating Margin (TTM)

operating margin is set aside for Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs): the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.

Profitability Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
ROE (TTM)	113.59%	5.84%
ROA (TTM)	5.56%	2.39%
Net Margin (TTM)	--	--
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Financial Strength

Current Ratio (MRQ)

Simon Property (SPG) has current ratio of 0.20, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

SPG

Equity Real Estate Investment Trusts (REITs) industry group

0.20

Group distribution

Max: 4.00
Q3: 1.92
Median: 0.98
Q1: 0.47
SPG: 0.20
Min: 0.08

Largest peers

O: 2.06
WELL: 1.65
DLR: 1.23
EQIX: 1.18
PLD: 0.53
AMT: 0.30
SPG: 0.20

Where Simon Property (SPG) stands on current ratio within its Equity Real Estate Investment Trusts (REITs) peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Simon Property (SPG) has debt-to-equity ratio of 4.57, above the industry benchmark range. Debt sits unusually high against shareholders’ equity, leaving the balance sheet more exposed to rate, refinancing, or earnings shocks.

SPG

Equity Real Estate Investment Trusts (REITs) industry group

4.57

Group distribution

SPG: 4.57
Max: 2.63
Q3: 1.55
Median: 1.05
Q1: 0.78
Min: 0.19

Largest peers

SPG: 4.57
AMT: 4.45
EQIX: 1.63
DLR: 0.77
O: 0.73
PLD: 0.61
WELL: 0.44

Where Simon Property (SPG) stands on debt-to-equity ratio within its Equity Real Estate Investment Trusts (REITs) peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
Current Ratio (MRQ)	0.20	0.98
Debt / Equity (MRQ)	4.57	1.05
Net Debt / EBITDA	5.79	6.01

Dividends

Dividend Yield (TTM)

Simon Property (SPG) has dividend yield of 3.95%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

SPG

Equity Real Estate Investment Trusts (REITs) industry group

3.95%

Group distribution

Max: 9.28%
Q3: 5.59%
Median: 4.06%
SPG: 3.95%
Q1: 3.12%
Min: 0.00%

Largest peers

O: 5.11%
AMT: 4.09%
SPG: 3.95%
PLD: 2.91%
DLR: 2.70%
EQIX: 1.83%
WELL: 1.28%

Where Simon Property (SPG) stands on dividend yield within its Equity Real Estate Investment Trusts (REITs) peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

payout ratio is not assessed for Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs): distributions in this industry are better read against FFO or cash-flow measures than accounting earnings.

Dividend Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
Dividend Yield (TTM)	3.95%	4.06%
Dividend Payout Ratio (TTM)	--	--

Valuation

P/E Ratio (TTM)

P/E ratio is not assessed for Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs): depreciation can depress accounting earnings in this industry, so price-to-FFO is the more relevant valuation yardstick.

P/S Ratio (TTM)

Simon Property (SPG) trades at 12.54 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

SPG

Equity Real Estate Investment Trusts (REITs) industry group

12.54

Group distribution

Max: 15.43
SPG: 12.54
Q3: 8.91
Median: 6.66
Q1: 3.72
Min: 0.66

Largest peers

PLD: 14.47
WELL: 14.07
SPG: 12.54
EQIX: 10.76
DLR: 10.60
O: 10.09
AMT: 7.30

Where Simon Property (SPG) stands on P/S ratio within its Equity Real Estate Investment Trusts (REITs) peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Simon Property (SPG) trades at 14.77 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

SPG

Equity Real Estate Investment Trusts (REITs) industry group

14.77

Group distribution

SPG: 14.77
Max: 4.05
Q3: 2.67
Median: 1.77
Q1: 1.16
Min: 0.33

Largest peers

AMT: 22.42
SPG: 14.77
EQIX: 7.17
WELL: 3.77
DLR: 2.74
PLD: 2.48
O: 1.53

Where Simon Property (SPG) stands on P/B ratio within its Equity Real Estate Investment Trusts (REITs) peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Simon Property (SPG) metric values compared with Equity Real Estate Investment Trusts (REITs) industry-group medians
Metric	Current stock: SPG	Industry group median
P/E Ratio (TTM)	--	--
P/S Ratio (TTM)	12.54	6.66
P/B Ratio (MRQ)	14.77	1.77
Free Cash Flow Yield (TTM)	--	--