ARE vs. SPG: A Head-to-Head Stock Comparison

Updated on August 28, 2025

Here’s a clear look at ARE and SPG, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Both ARE and SPG are Real Estate Investment Trusts (REITs). These entities are required to distribute the majority of their taxable income to shareholders, often resulting in higher dividend yields.

Symbol	ARE	SPG
Company Name	Alexandria Real Estate Equities, Inc.	Simon Property Group, Inc.
Country	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry	Office REITs	Retail REITs
Market Capitalization	13.73 billion USD	66.54 billion USD
Exchange	NYSE	NYSE
Listing Date	May 28, 1997	December 14, 1993
Security Type	REIT	REIT

Historical Performance

This chart compares the performance of ARE and SPG by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

ARE vs. SPG: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	ARE	SPG
5-Day Price Return	2.75%	0.87%
13-Week Price Return	17.21%	11.69%
26-Week Price Return	-15.62%	-5.12%
52-Week Price Return	-32.05%	8.75%
Month-to-Date Return	5.22%	7.71%
Year-to-Date Return	-17.56%	2.44%
10-Day Avg. Volume	1.31M	1.40M
3-Month Avg. Volume	1.69M	1.56M
3-Month Volatility	30.17%	17.83%
Beta	1.33	1.55

Profitability

Return on Equity (TTM)

ARE

-0.06%

Office REITs Industry

Max: 9.47%
Q3: 6.07%
Median: 3.22%
Q1: 0.83%
Min: -0.08%

ARE has a negative Return on Equity of -0.06%. This indicates the company is generating a loss for its shareholders, which can be a result of unprofitability or negative shareholder equity and is often a sign of financial distress.

SPG

79.00%

Retail REITs Industry

Max: 15.84%
Q3: 10.01%
Median: 5.58%
Q1: 2.80%
Min: -2.65%

SPG’s Return on Equity of 79.00% is exceptionally high, placing it well beyond the typical range for the Retail REITs industry. This demonstrates a superior ability to generate profit from shareholder investments, though it could also be inflated by high financial leverage.

ARE vs. SPG: A comparison of their Return on Equity (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Net Profit Margin (TTM)

ARE

-0.32%

Office REITs Industry

Max: 74.75%
Q3: 44.46%
Median: 31.39%
Q1: 5.85%
Min: -0.35%

In the Office REITs industry, Net Profit Margin is often not the primary profitability metric.

SPG

35.06%

Retail REITs Industry

Max: 72.99%
Q3: 48.25%
Median: 27.21%
Q1: 13.68%
Min: -25.48%

In the Retail REITs industry, Net Profit Margin is often not the primary profitability metric.

ARE vs. SPG: A comparison of their Net Profit Margin (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Operating Profit Margin (TTM)

ARE

12.67%

Office REITs Industry

Max: 91.62%
Q3: 51.67%
Median: 42.78%
Q1: 23.56%
Min: 14.93%

In the Office REITs industry, Operating Profit Margin is often not the primary measure of operational efficiency.

SPG

50.96%

Retail REITs Industry

Max: 102.11%
Q3: 53.88%
Median: 35.05%
Q1: 20.90%
Min: -8.87%

In the Retail REITs industry, Operating Profit Margin is often not the primary measure of operational efficiency.

ARE vs. SPG: A comparison of their Operating Profit Margin (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Profitability at a Glance

Symbol	ARE	SPG
Return on Equity (TTM)	-0.06%	79.00%
Return on Assets (TTM)	-0.03%	6.44%
Net Profit Margin (TTM)	-0.32%	35.06%
Operating Profit Margin (TTM)	12.67%	50.96%
Gross Profit Margin (TTM)	71.25%	82.17%

Financial Strength

Current Ratio (MRQ)

ARE

0.40

Office REITs Industry

Max: 1.49
Q3: 1.22
Median: 0.67
Q1: 0.44
Min: 0.14

ARE’s Current Ratio of 0.40 falls into the lower quartile for the Office REITs industry. This indicates a tighter liquidity situation and a more constrained capacity to handle short-term debt than many of its competitors.

SPG

0.52

Retail REITs Industry

Max: 1.54
Q3: 0.87
Median: 0.60
Q1: 0.39
Min: 0.04

SPG’s Current Ratio of 0.52 aligns with the median group of the Retail REITs industry, indicating that its short-term liquidity is in line with its sector peers.

ARE vs. SPG: A comparison of their Current Ratio (MRQ) against their respective Office REITs and Retail REITs industry benchmarks.

Debt-to-Equity Ratio (MRQ)

ARE

0.77

Office REITs Industry

Max: 1.62
Q3: 1.32
Median: 0.87
Q1: 0.73
Min: 0.42

ARE’s Debt-to-Equity Ratio of 0.77 is typical for the Office REITs industry, indicating its use of leverage is in line with the sector norm. This suggests a balanced approach to its capital structure.

SPG

10.36

Retail REITs Industry

Max: 1.96
Q3: 1.36
Median: 0.93
Q1: 0.64
Min: 0.28

With a Debt-to-Equity Ratio of 10.36, SPG operates with exceptionally high leverage compared to the Retail REITs industry norm. This suggests an aggressive reliance on debt financing, which can magnify returns but also significantly elevates financial risk.

ARE vs. SPG: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Office REITs and Retail REITs industry benchmarks.

Interest Coverage Ratio (TTM)

ARE

2.75

Office REITs Industry

Max: 3.98
Q3: 3.37
Median: 1.66
Q1: 1.16
Min: 0.14

ARE’s Interest Coverage Ratio of 2.75 is positioned comfortably within the norm for the Office REITs industry, indicating a standard and healthy capacity to cover its interest payments.

SPG

11.31

Retail REITs Industry

Max: 4.31
Q3: 3.35
Median: 2.33
Q1: 1.37
Min: 0.52

With an Interest Coverage Ratio of 11.31, SPG demonstrates a superior capacity to service its debt, placing it well above the typical range for the Retail REITs industry. This stems from either robust earnings or a conservative debt load.

ARE vs. SPG: A comparison of their Interest Coverage Ratio (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Financial Strength at a Glance

Symbol	ARE	SPG
Current Ratio (MRQ)	0.40	0.52
Quick Ratio (MRQ)	0.40	0.52
Debt-to-Equity Ratio (MRQ)	0.77	10.36
Interest Coverage Ratio (TTM)	2.75	11.31

Growth

Revenue Growth

ARE vs. SPG: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

ARE vs. SPG: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

ARE

6.74%

Office REITs Industry

Max: 6.88%
Q3: 5.94%
Median: 4.58%
Q1: 3.82%
Min: 1.22%

With a Dividend Yield of 6.74%, ARE offers a more attractive income stream than most of its peers in the Office REITs industry, signaling a strong commitment to shareholder returns.

SPG

4.78%

Retail REITs Industry

Max: 6.40%
Q3: 4.96%
Median: 4.61%
Q1: 3.75%
Min: 2.91%

SPG’s Dividend Yield of 4.78% is consistent with its peers in the Retail REITs industry, providing a dividend return that is standard for its sector.

ARE vs. SPG: A comparison of their Dividend Yield (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Dividend Payout Ratio (TTM)

ARE

174.29%

Office REITs Industry

Max: 231.12%
Q3: 180.65%
Median: 94.76%
Q1: 87.60%
Min: 1.02%

ARE’s Dividend Payout Ratio of 174.29% is within the typical range for the Office REITs industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

SPG

129.03%

Retail REITs Industry

Max: 233.72%
Q3: 148.83%
Median: 90.03%
Q1: 67.83%
Min: 12.86%

SPG’s Dividend Payout Ratio of 129.03% is within the typical range for the Retail REITs industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

ARE vs. SPG: A comparison of their Dividend Payout Ratio (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Dividend at a Glance

Symbol	ARE	SPG
Dividend Yield (TTM)	6.74%	4.78%
Dividend Payout Ratio (TTM)	174.29%	129.03%

Valuation

Price-to-Earnings Ratio (TTM)

ARE

Office REITs Industry

Max: 48.29
Q3: 44.14
Median: 23.60
Q1: 18.77
Min: 6.08

The P/E Ratio is often not the primary metric for valuation in the Office REITs industry.

SPG

26.99

Retail REITs Industry

Max: 69.12
Q3: 38.21
Median: 21.85
Q1: 15.96
Min: 6.82

The P/E Ratio is often not the primary metric for valuation in the Retail REITs industry.

ARE vs. SPG: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Price-to-Sales Ratio (TTM)

ARE

4.21

Office REITs Industry

Max: 14.09
Q3: 9.33
Median: 6.96
Q1: 4.25
Min: 2.65

In the lower quartile for the Office REITs industry, ARE’s P/S Ratio of 4.21 indicates its revenue is valued more conservatively than most of its peers. This could present a compelling opportunity if the market has overlooked its sales-generating capabilities.

SPG

9.46

Retail REITs Industry

Max: 13.84
Q3: 9.05
Median: 7.00
Q1: 5.56
Min: 2.93

SPG’s P/S Ratio of 9.46 is in the upper echelon for the Retail REITs industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

ARE vs. SPG: A comparison of their Price-to-Sales Ratio (TTM) against their respective Office REITs and Retail REITs industry benchmarks.

Price-to-Book Ratio (MRQ)

ARE

0.73

Office REITs Industry

Max: 2.06
Q3: 1.34
Median: 1.02
Q1: 0.68
Min: 0.57

ARE’s P/B Ratio of 0.73 is within the conventional range for the Office REITs industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

SPG

21.41

Retail REITs Industry

Max: 2.75
Q3: 1.73
Median: 1.08
Q1: 0.87
Min: 0.48

At 21.41, SPG’s P/B Ratio is at an extreme premium to the Retail REITs industry. This signifies that the market’s valuation is heavily reliant on future potential rather than its current net asset value, which can be a high-risk proposition.

ARE vs. SPG: A comparison of their Price-to-Book Ratio (MRQ) against their respective Office REITs and Retail REITs industry benchmarks.

Valuation at a Glance

Symbol	ARE	SPG
Price-to-Earnings Ratio (TTM)	--	26.99
Price-to-Sales Ratio (TTM)	4.21	9.46
Price-to-Book Ratio (MRQ)	0.73	21.41
Price-to-Free Cash Flow Ratio (TTM)	539.86	18.17