INVH vs. SPG: Invitation Homes vs. Simon Property Stock Comparison

Company Profile

Invitation Homes (INVH) and Simon Property (SPG) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but INVH is classified in Residential REITs while SPG is classified in Retail REITs.

Both Invitation Homes (INVH) 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

Simon Property (SPG) at 129.35% clears its industry range for ROE, a sharper capital-efficiency signal than Invitation Homes (INVH) at 7.40%, which is closer to a typical peer reading.

Neither Invitation Homes (INVH) 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 Invitation Homes (INVH) 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 Invitation Homes (INVH) at 4.21% 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 Invitation Homes (INVH) 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

Both Invitation Homes (INVH) at 0.61 and Simon Property (SPG) at 0.39 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

Invitation Homes (INVH) at 0.99 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

Invitation Homes (INVH) at 4.35% pays a yield in its industry’s typical range, while Simon Property (SPG) at 0.97% falls in the bottom quartile of its peers.

An earnings-based payout ratio fits neither Invitation Homes (INVH) 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 Invitation Homes (INVH) 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.

Invitation Homes (INVH) at 5.49 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.

Invitation Homes (INVH) at 1.79 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