GLPI vs. SPG: Gaming and Leisure Properties vs. Simon Property Stock Comparison

Company Profile

Gaming and Leisure Properties (GLPI) and Simon Property (SPG) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but GLPI is classified in Specialized REITs while SPG is classified in Retail REITs.

Both Gaming and Leisure Properties (GLPI) and Simon Property (SPG) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both companies show strong equity returns, but Simon Property (SPG) at 129.35% is the standout with ROE above its industry range; Gaming and Leisure Properties (GLPI) at 18.69% also sits in the top quartile.

Neither Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) nor Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) and Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both Gaming and Leisure Properties (GLPI) at 4.13% and Simon Property (SPG) at 6.72% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) or Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Gaming and Leisure Properties (GLPI) at 34.39 carries current ratio above its industry’s typical mid-range, while Simon Property (SPG) at 0.39 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

Gaming and Leisure Properties (GLPI) at 1.57 is near its industry mid-range for debt-to-equity ratio, while Simon Property (SPG) at 5.67 sits above its benchmark range, pointing to a heavier debt load relative to equity.

Financial Strength Metrics

Dividends

Gaming and Leisure Properties (GLPI) at 8.11% offers top-quartile income, while Simon Property (SPG) at 0.97% sits in the bottom quartile — a wide gap in cash returned to shareholders.

An earnings-based payout ratio fits neither Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) nor Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) or Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

Gaming and Leisure Properties (GLPI) at 6.88 is priced about in line with its industry on P/S ratio, while Simon Property (SPG) at 12.09 sits in the pricier quartile — SPG costs more per dollar of sales.

Gaming and Leisure Properties (GLPI) at 2.28 sits near its industry’s typical P/B ratio, while Simon Property (SPG) at 19.38 prices above its benchmark range — SPG looks rich relative to book.

Valuation Metrics