SPG vs. VTR: Simon Property vs. Ventas Stock Comparison

Company Profile

Simon Property (SPG) and Ventas (VTR) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but SPG is classified in Retail REITs while VTR is classified in Health Care REITs.

Both Simon Property (SPG) and Ventas (VTR) 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 Ventas (VTR) at 1.87%, which is closer to a typical peer reading.

Neither Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) nor Ventas (VTR) 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 Ventas (VTR) 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

Ventas (VTR) at 18.47% sits in the top revenue growth quartile, while Simon Property (SPG) at 6.72% is closer to the peer norm — faster top-line expansion for VTR.

EPS growth isn't a meaningful figure for either Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) or Ventas (VTR) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Both Simon Property (SPG) at 0.39 and Ventas (VTR) at 0.37 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

Ventas (VTR) at 0.77 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

Both Simon Property (SPG) at 0.97% and Ventas (VTR) at 2.29% offer bottom-quartile dividend income relative to share price versus industry peers.

An earnings-based payout ratio fits neither Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) nor Ventas (VTR) 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 Ventas (VTR) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

Ventas (VTR) at 6.96 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: Ventas (VTR) at 2.97 sits in the upper P/B ratio quartile, and Simon Property (SPG) at 19.38 prices even higher, above its industry range.

Valuation Metrics