SPG vs. SUI: Simon Property vs. Sun Communities Stock Comparison

Company Profile

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

Both Simon Property (SPG) and Sun Communities (SUI) 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 Sun Communities (SUI) at 4.89%, which is closer to a typical peer reading.

Neither Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) nor Sun Communities (SUI) 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 Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) and Sun Communities (SUI) 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 Simon Property (SPG) at 6.72% and Sun Communities (SUI) at 0.77% 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 Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) or Sun Communities (SUI) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Sun Communities (SUI) at 3.07 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.

Sun Communities (SUI) at 0.72 keeps leverage in the lower quartile, while Simon Property (SPG) at 5.67 is above its industry debt-to-equity ratio range.

Financial Strength Metrics

Dividends

Sun Communities (SUI) at 3.60% 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 Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) nor Sun Communities (SUI) 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 Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) or Sun Communities (SUI) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

Sun Communities (SUI) at 6.39 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.

Both look rich against book: Sun Communities (SUI) at 2.76 sits in the upper P/B ratio quartile, and Simon Property (SPG) at 19.38 prices even higher, above its industry range.

Valuation Metrics