Simon Property (SPG) Stock Analysis
Here is a fundamental analysis of Simon Property (SPG), benchmarking its profitability, financial strength, dividend and valuation against its industry group peers.
Performance
Cumulative Growth
Trailing Returns
Performance at a Glance
| Metric | Current stock: SPG | Industry group median |
|---|---|---|
| 1-Year Return | 44.50% | 15.97% |
Risk
Drawdown
Risk at a Glance
| Metric | Current stock: SPG | Industry group median |
|---|---|---|
| 1-Year Volatility | 18.79% | 22.81% |
| Beta | 1.29 | 0.97 |
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.
| 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 | 83.23 billion USD |
| Currency | USD |
| Exchange | NYSE |
| Listing Date | December 14, 1993 |
| Security Type | REIT |
Valuation
Price-to-Earnings 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.
Price-to-Sales Ratio (TTM)
Simon Property (SPG) trades at 12.52 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
12.52
Group distribution
- Max
- 15.01
- SPG
- 12.52
- Q3
- 8.66
- Median
- 6.65
- Q1
- 3.87
- Min
- 0.60
Largest peers
- PLD
- 14.87
- WELL
- 12.85
- SPG
- 12.52
- EQIX
- 10.93
- DLR
- 10.44
- O
- 9.86
- AMT
- 8.06
Price-to-Book Ratio (MRQ)
Simon Property (SPG) trades at 14.74 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
14.74
Group distribution
- SPG
- 14.74
- Max
- 4.20
- Q3
- 2.66
- Median
- 1.74
- Q1
- 1.16
- Min
- 0.33
Largest peers
- AMT
- 24.76
- SPG
- 14.74
- EQIX
- 7.28
- WELL
- 3.54
- DLR
- 2.84
- PLD
- 2.59
- O
- 1.49
Valuation at a Glance
| Metric | Current stock: SPG | Industry group median |
|---|---|---|
| Price-to-Earnings Ratio (TTM) | -- | -- |
| Price-to-Sales Ratio (TTM) | 12.52 | 6.65 |
| Price-to-Book Ratio (MRQ) | 14.74 | 1.74 |
| Free Cash Flow Yield | -- | -- |
Profitability
Return on Equity (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
- 1.39%
- 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%
Net Profit 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 Profit 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 at a Glance
| Metric | Current stock: SPG | Industry group median |
|---|---|---|
| Return on Equity (TTM) | 113.59% | 5.84% |
| Return on Assets (TTM) | 5.56% | 2.39% |
| Net Profit Margin (TTM) | -- | -- |
| Operating Profit Margin (TTM) | -- | -- |
| Gross Profit 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
- 1.04
- 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
Debt-to-Equity Ratio (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
- 1.04
- Q1
- 0.75
- 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
Financial Strength at a Glance
| Metric | Current stock: SPG | Industry group median |
|---|---|---|
| Current Ratio (MRQ) | 0.20 | 1.04 |
| Debt-to-Equity Ratio (MRQ) | 4.57 | 1.04 |
| Net Debt / EBITDA | 5.79 | 5.99 |
Dividends
Dividend Yield (TTM)
Simon Property (SPG) has dividend yield of 4.02%, 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
4.02%
Group distribution
- Max
- 8.05%
- Q3
- 5.81%
- Median
- 4.33%
- SPG
- 4.02%
- Q1
- 3.39%
- Min
- 0.00%
Largest peers
- O
- 5.18%
- SPG
- 4.02%
- AMT
- 3.73%
- PLD
- 2.88%
- DLR
- 2.65%
- EQIX
- 1.87%
- WELL
- 1.38%
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.
Dividends at a Glance
| Metric | Current stock: SPG | Industry group median |
|---|---|---|
| Dividend Yield (TTM) | 4.02% | 4.33% |
| Dividend Payout Ratio (TTM) | -- | -- |