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

Updated on August 28, 2025

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

Company Profile

Both SPG and VICI 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	SPG	VICI
Company Name	Simon Property Group, Inc.	VICI Properties Inc.
Country	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry	Retail REITs	Specialized REITs
Market Capitalization	66.54 billion USD	35.72 billion USD
Exchange	NYSE	NYSE
Listing Date	December 14, 1993	January 2, 2018
Security Type	REIT	REIT

Historical Performance

This chart compares the performance of SPG and VICI 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.

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

Historical Performance at a Glance

Symbol	SPG	VICI
5-Day Price Return	0.87%	3.17%
13-Week Price Return	11.69%	7.37%
26-Week Price Return	-5.12%	9.91%
52-Week Price Return	8.75%	3.62%
Month-to-Date Return	7.71%	2.76%
Year-to-Date Return	2.44%	14.69%
10-Day Avg. Volume	1.40M	8.55M
3-Month Avg. Volume	1.56M	6.35M
3-Month Volatility	17.83%	15.97%
Beta	1.55	0.76

Profitability

Return on Equity (TTM)

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.

VICI

10.37%

Specialized REITs Industry

Max: 37.66%
Q3: 20.19%
Median: 8.96%
Q1: 6.32%
Min: -1.71%

VICI’s Return on Equity of 10.37% is on par with the norm for the Specialized REITs industry, indicating its profitability relative to shareholder equity is typical for the sector.

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

Net Profit Margin (TTM)

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.

VICI

70.20%

Specialized REITs Industry

Max: 67.81%
Q3: 40.70%
Median: 25.91%
Q1: 11.01%
Min: 1.95%

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

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

Operating Profit Margin (TTM)

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.

VICI

92.51%

Specialized REITs Industry

Max: 107.13%
Q3: 55.10%
Median: 41.03%
Q1: 17.97%
Min: 5.94%

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

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

Profitability at a Glance

Symbol	SPG	VICI
Return on Equity (TTM)	79.00%	10.37%
Return on Assets (TTM)	6.44%	6.06%
Net Profit Margin (TTM)	35.06%	70.20%
Operating Profit Margin (TTM)	50.96%	92.51%
Gross Profit Margin (TTM)	82.17%	99.32%

Financial Strength

Current Ratio (MRQ)

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.

VICI

0.30

Specialized REITs Industry

Max: 1.74
Q3: 1.13
Median: 0.59
Q1: 0.35
Min: 0.09

VICI’s Current Ratio of 0.30 falls into the lower quartile for the Specialized REITs industry. This indicates a tighter liquidity situation and a more constrained capacity to handle short-term debt than many of its competitors.

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

Debt-to-Equity Ratio (MRQ)

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.

VICI

0.66

Specialized REITs Industry

Max: 4.54
Q3: 3.26
Median: 1.09
Q1: 0.58
Min: 0.16

VICI’s Debt-to-Equity Ratio of 0.66 is typical for the Specialized REITs industry, indicating its use of leverage is in line with the sector norm. This suggests a balanced approach to its capital structure.

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

Interest Coverage Ratio (TTM)

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.

VICI

4.37

Specialized REITs Industry

Max: 5.24
Q3: 4.05
Median: 2.99
Q1: 2.10
Min: 1.28

VICI’s Interest Coverage Ratio of 4.37 is in the upper quartile for the Specialized REITs industry, signifying a strong and healthy capacity to meet its interest payments from operating profits.

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

Financial Strength at a Glance

Symbol	SPG	VICI
Current Ratio (MRQ)	0.52	0.30
Quick Ratio (MRQ)	0.52	0.30
Debt-to-Equity Ratio (MRQ)	10.36	0.66
Interest Coverage Ratio (TTM)	11.31	4.37

Growth

Revenue Growth

SPG vs. VICI: 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

SPG vs. VICI: 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)

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.

VICI

5.20%

Specialized REITs Industry

Max: 7.06%
Q3: 5.09%
Median: 4.51%
Q1: 3.18%
Min: 1.78%

With a Dividend Yield of 5.20%, VICI offers a more attractive income stream than most of its peers in the Specialized REITs industry, signaling a strong commitment to shareholder returns.

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

Dividend Payout Ratio (TTM)

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.

VICI

65.35%

Specialized REITs Industry

Max: 295.93%
Q3: 182.11%
Median: 119.31%
Q1: 65.42%
Min: 43.86%

VICI’s Dividend Payout Ratio of 65.35% is in the lower quartile for the Specialized REITs industry. This suggests a conservative dividend policy, with a strategic focus on reinvesting profits for future growth.

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

Dividend at a Glance

Symbol	SPG	VICI
Dividend Yield (TTM)	4.78%	5.20%
Dividend Payout Ratio (TTM)	129.03%	65.35%

Valuation

Price-to-Earnings Ratio (TTM)

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.

VICI

12.56

Specialized REITs Industry

Max: 85.59
Q3: 64.69
Median: 29.09
Q1: 18.22
Min: 8.79

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

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

Price-to-Sales Ratio (TTM)

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.

VICI

8.82

Specialized REITs Industry

Max: 14.35
Q3: 9.60
Median: 8.74
Q1: 5.61
Min: 1.63

VICI’s P/S Ratio of 8.82 aligns with the market consensus for the Specialized REITs industry. This suggests its valuation, based on sales, is seen as standard and is on par with its competitors.

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

Price-to-Book Ratio (MRQ)

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.

VICI

1.27

Specialized REITs Industry

Max: 11.33
Q3: 5.68
Median: 2.69
Q1: 1.81
Min: 0.71

VICI’s P/B Ratio of 1.27 is in the lower quartile for the Specialized REITs industry. From a value investing perspective, this is favorable, as it suggests the stock is trading at a discount to its net asset value and may offer a greater margin of safety.

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

Valuation at a Glance

Symbol	SPG	VICI
Price-to-Earnings Ratio (TTM)	26.99	12.56
Price-to-Sales Ratio (TTM)	9.46	8.82
Price-to-Book Ratio (MRQ)	21.41	1.27
Price-to-Free Cash Flow Ratio (TTM)	18.17	16.11