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

Updated on October 7, 2025

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

Company Profile

Both MAA 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	MAA	SPG
Company Name	Mid-America Apartment Communities, Inc.	Simon Property Group, Inc.
Country	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry	Residential REITs	Retail REITs
Market Capitalization	16.41 billion USD	69.87 billion USD
Exchange	NYSE	NYSE
Listing Date	January 28, 1994	December 14, 1993
Security Type	REIT	REIT

Historical Performance

This chart compares the performance of MAA 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.

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

Historical Performance at a Glance

Symbol	MAA	SPG
5-Day Price Return	-1.38%	-0.33%
13-Week Price Return	-9.15%	11.09%
26-Week Price Return	-18.43%	11.53%
52-Week Price Return	-12.91%	9.90%
Month-to-Date Return	-2.17%	-1.30%
Year-to-Date Return	-11.56%	7.56%
10-Day Avg. Volume	0.86M	1.46M
3-Month Avg. Volume	0.91M	1.63M
3-Month Volatility	19.50%	17.54%
Beta	0.80	1.43

Profitability

Return on Equity (TTM)

MAA

9.60%

Residential REITs Industry

Max: 17.50%
Q3: 9.60%
Median: 6.78%
Q1: 3.88%
Min: -0.69%

MAA’s Return on Equity of 9.60% is on par with the norm for the Residential REITs industry, indicating its profitability relative to shareholder equity is typical for the sector.

SPG

79.00%

Retail REITs Industry

Max: 16.17%
Q3: 9.03%
Median: 6.12%
Q1: 3.81%
Min: -3.17%

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.

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

Net Profit Margin (TTM)

MAA

25.98%

Residential REITs Industry

Max: 53.28%
Q3: 43.51%
Median: 25.98%
Q1: 9.99%
Min: -0.30%

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

SPG

35.06%

Retail REITs Industry

Max: 75.53%
Q3: 49.82%
Median: 28.35%
Q1: 20.68%
Min: -8.79%

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

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

Operating Profit Margin (TTM)

MAA

29.76%

Residential REITs Industry

Max: 54.66%
Q3: 47.76%
Median: 29.76%
Q1: 18.99%
Min: -0.66%

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

SPG

50.96%

Retail REITs Industry

Max: 102.11%
Q3: 58.14%
Median: 38.63%
Q1: 25.00%
Min: -8.87%

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

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

Profitability at a Glance

Symbol	MAA	SPG
Return on Equity (TTM)	9.60%	79.00%
Return on Assets (TTM)	4.84%	6.44%
Net Profit Margin (TTM)	25.98%	35.06%
Operating Profit Margin (TTM)	29.76%	50.96%
Gross Profit Margin (TTM)	58.85%	82.17%

Financial Strength

Current Ratio (MRQ)

MAA

0.13

Residential REITs Industry

Max: 1.58
Q3: 0.84
Median: 0.56
Q1: 0.10
Min: 0.00

MAA’s Current Ratio of 0.13 aligns with the median group of the Residential REITs industry, indicating that its short-term liquidity is in line with its sector peers.

SPG

0.52

Retail REITs Industry

Max: 1.74
Q3: 0.97
Median: 0.55
Q1: 0.32
Min: 0.07

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.

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

Debt-to-Equity Ratio (MRQ)

MAA

0.85

Residential REITs Industry

Max: 1.64
Q3: 1.10
Median: 0.83
Q1: 0.68
Min: 0.28

MAA’s Debt-to-Equity Ratio of 0.85 is typical for the Residential 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: 2.06
Q3: 1.27
Median: 0.92
Q1: 0.68
Min: 0.34

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.

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

Interest Coverage Ratio (TTM)

MAA

4.01

Residential REITs Industry

Max: 5.11
Q3: 4.01
Median: 2.53
Q1: 1.52
Min: 0.52

MAA’s Interest Coverage Ratio of 4.01 is positioned comfortably within the norm for the Residential REITs industry, indicating a standard and healthy capacity to cover its interest payments.

SPG

11.31

Retail REITs Industry

Max: 4.31
Q3: 3.30
Median: 2.15
Q1: 1.29
Min: -0.08

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.

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

Financial Strength at a Glance

Symbol	MAA	SPG
Current Ratio (MRQ)	0.13	0.52
Quick Ratio (MRQ)	0.05	0.52
Debt-to-Equity Ratio (MRQ)	0.85	10.36
Interest Coverage Ratio (TTM)	4.01	11.31

Growth

Revenue Growth

MAA 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

MAA 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)

MAA

4.40%

Residential REITs Industry

Max: 4.67%
Q3: 4.30%
Median: 3.71%
Q1: 3.53%
Min: 3.04%

With a Dividend Yield of 4.40%, MAA offers a more attractive income stream than most of its peers in the Residential REITs industry, signaling a strong commitment to shareholder returns.

SPG

4.52%

Retail REITs Industry

Max: 6.92%
Q3: 5.10%
Median: 4.50%
Q1: 3.89%
Min: 2.37%

SPG’s Dividend Yield of 4.52% is consistent with its peers in the Retail REITs industry, providing a dividend return that is standard for its sector.

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

Dividend Payout Ratio (TTM)

MAA

122.73%

Residential REITs Industry

Max: 214.13%
Q3: 138.72%
Median: 103.63%
Q1: 84.15%
Min: 22.05%

MAA’s Dividend Payout Ratio of 122.73% is within the typical range for the Residential REITs industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

SPG

129.03%

Retail REITs Industry

Max: 195.40%
Q3: 125.60%
Median: 85.02%
Q1: 51.07%
Min: 12.86%

SPG’s Dividend Payout Ratio of 129.03% is in the upper quartile for the Retail REITs industry. This indicates a strong commitment to shareholder returns but also suggests that a smaller portion of earnings is retained for reinvestment compared to many peers.

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

Dividend at a Glance

Symbol	MAA	SPG
Dividend Yield (TTM)	4.40%	4.52%
Dividend Payout Ratio (TTM)	122.73%	129.03%

Valuation

Price-to-Earnings Ratio (TTM)

MAA

27.91

Residential REITs Industry

Max: 76.72
Q3: 44.45
Median: 28.89
Q1: 22.94
Min: 9.90

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

SPG

28.55

Retail REITs Industry

Max: 42.04
Q3: 28.02
Median: 21.98
Q1: 15.79
Min: 6.89

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

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

Price-to-Sales Ratio (TTM)

MAA

7.25

Residential REITs Industry

Max: 13.08
Q3: 9.23
Median: 7.38
Q1: 6.12
Min: 5.65

MAA’s P/S Ratio of 7.25 aligns with the market consensus for the Residential REITs industry. This suggests its valuation, based on sales, is seen as standard and is on par with its competitors.

SPG

10.01

Retail REITs Industry

Max: 13.05
Q3: 9.54
Median: 6.95
Q1: 5.59
Min: 3.06

SPG’s P/S Ratio of 10.01 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.

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

Price-to-Book Ratio (MRQ)

MAA

2.93

Residential REITs Industry

Max: 4.07
Q3: 2.62
Median: 2.08
Q1: 1.46
Min: 0.68

MAA’s P/B Ratio of 2.93 is in the upper tier for the Residential REITs industry. This indicates that investors are paying a premium relative to the company’s net assets, a valuation that hinges on its ability to generate superior profits.

SPG

21.41

Retail REITs Industry

Max: 2.70
Q3: 1.64
Median: 1.05
Q1: 0.91
Min: 0.58

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.

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

Valuation at a Glance

Symbol	MAA	SPG
Price-to-Earnings Ratio (TTM)	27.91	28.55
Price-to-Sales Ratio (TTM)	7.25	10.01
Price-to-Book Ratio (MRQ)	2.93	21.41
Price-to-Free Cash Flow Ratio (TTM)	68.03	19.22