SPG vs. WELL: Simon Property vs. Welltower Stock Comparison
How do Simon Property (SPG) and Welltower (WELL) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Simon Property (SPG) and Welltower (WELL) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but SPG is classified in Retail REITs while WELL is classified in Health Care REITs.
Both Simon Property (SPG) and Welltower (WELL) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.
| Profile Item | SPG | WELL |
|---|---|---|
| Name | Simon Property Group, Inc. | Welltower Inc. |
| Country/Region | United States | United States |
| GICS Sector | Real Estate | Real Estate |
| GICS Industry Group | Equity Real Estate Investment Trusts (REITs) | Equity Real Estate Investment Trusts (REITs) |
| GICS Industry | Retail REITs | Health Care REITs |
| GICS Sub-Industry | Retail REITs | Health Care REITs |
| Market Capitalization | 85.50 billion USD | 164.26 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | December 14, 1993 | March 19, 1980 |
| Security Type | REIT | REIT |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | SPG | WELL |
|---|---|---|
| Total Return (1Y) | 41.36% | 54.66% |
| Total Return (3Y, Annualized) | 30.09% | 45.55% |
| Total Return (5Y, Annualized) | 18.13% | 25.32% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | SPG | WELL |
|---|---|---|
| Volatility (1Y, Annualized) | 19.07% | 22.28% |
| Beta (5Y) | 1.31 | 0.77 |
| Max Drawdown (5Y) | -45.84% | -40.78% |
| Avg. Volume (3M) | 1.84M | 3.41M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | SPG | WELL |
|---|---|---|
| Sharpe Ratio (1Y) | 1.96 | 2.28 |
| Sortino Ratio (1Y) | 3.15 | 3.45 |
Profitability
ROE (TTM)
Simon Property (SPG) at 113.59% clears its industry range for ROE, a sharper capital-efficiency signal than Welltower (WELL) at 3.67%, which is closer to a typical peer reading.
SPG
Equity Real Estate Investment Trusts (REITs) industry group
113.59%
- SPG
- 113.59%
- Max
- 21.85%
- Q3
- 9.86%
- Median
- 5.86%
- Q1
- 1.38%
- Min
- -9.66%
WELL
Equity Real Estate Investment Trusts (REITs) industry group
3.67%
- Max
- 21.85%
- Q3
- 9.86%
- Median
- 5.86%
- WELL
- 3.67%
- Q1
- 1.38%
- Min
- -9.66%
Net Margin (TTM)
Neither Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) 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.
Operating Margin (TTM)
Neither side reports a meaningful operating margin: for Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) and Welltower (WELL) 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
| Metric | SPG | WELL |
|---|---|---|
| ROE (TTM) | 113.59% | 3.67% |
| ROA (TTM) | 5.56% | 0.74% |
| Net Margin (TTM) | -- | -- |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Revenue Growth Metrics
| Metric | SPG | WELL |
|---|---|---|
| Revenue Growth (YoY) | 6.72% | 35.82% |
| Revenue Growth (3Y CAGR) | 6.35% | 22.69% |
EPS Growth
EPS Growth Metrics
| Metric | SPG | WELL |
|---|---|---|
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Welltower (WELL) at 1.65 keeps current ratio within its industry’s typical mid-range, while Simon Property (SPG) at 0.20 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SPG.
SPG
Equity Real Estate Investment Trusts (REITs) industry group
0.20
- Max
- 4.00
- Q3
- 1.93
- Median
- 0.98
- Q1
- 0.46
- SPG
- 0.20
- Min
- 0.08
WELL
Equity Real Estate Investment Trusts (REITs) industry group
1.65
- Max
- 4.00
- Q3
- 1.93
- WELL
- 1.65
- Median
- 0.98
- Q1
- 0.46
- Min
- 0.08
Debt / Equity (MRQ)
Welltower (WELL) at 0.44 keeps leverage in the lower quartile, while Simon Property (SPG) at 4.57 is above its industry debt-to-equity ratio range.
SPG
Equity Real Estate Investment Trusts (REITs) industry group
4.57
- SPG
- 4.57
- Max
- 2.53
- Q3
- 1.51
- Median
- 1.04
- Q1
- 0.77
- Min
- 0.19
WELL
Equity Real Estate Investment Trusts (REITs) industry group
0.44
- Max
- 2.53
- Q3
- 1.51
- Median
- 1.04
- Q1
- 0.77
- WELL
- 0.44
- Min
- 0.19
Financial Strength Metrics
| Metric | SPG | WELL |
|---|---|---|
| Current Ratio (MRQ) | 0.20 | 1.65 |
| Debt / Equity (MRQ) | 4.57 | 0.44 |
| Net Debt / EBITDA | 5.79 | 5.11 |
Dividends
Dividend Yield (TTM)
Simon Property (SPG) at 3.83% pays a yield in its industry’s typical range, while Welltower (WELL) at 1.25% falls in the bottom quartile of its peers.
SPG
Equity Real Estate Investment Trusts (REITs) industry group
3.83%
- Max
- 8.88%
- Q3
- 5.56%
- Median
- 4.01%
- SPG
- 3.83%
- Q1
- 3.15%
- Min
- 0.00%
WELL
Equity Real Estate Investment Trusts (REITs) industry group
1.25%
- Max
- 8.88%
- Q3
- 5.56%
- Median
- 4.01%
- Q1
- 3.15%
- WELL
- 1.25%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
An earnings-based payout ratio fits neither Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) 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
| Metric | SPG | WELL |
|---|---|---|
| Dividend Yield (TTM) | 3.83% | 1.25% |
| Dividend Payout Ratio (TTM) | -- | -- |
Valuation
P/E Ratio (TTM)
P/E ratio is not a meaningful valuation yardstick for either Simon Property (SPG) in Equity Real Estate Investment Trusts (REITs) or Welltower (WELL) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.
P/S Ratio (TTM)
Both Simon Property (SPG) at 12.86 and Welltower (WELL) at 13.96 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.
SPG
Equity Real Estate Investment Trusts (REITs) industry group
12.86
- Max
- 15.51
- SPG
- 12.86
- Q3
- 8.88
- Median
- 6.59
- Q1
- 3.75
- Min
- 0.82
WELL
Equity Real Estate Investment Trusts (REITs) industry group
13.96
- Max
- 15.51
- WELL
- 13.96
- Q3
- 8.88
- Median
- 6.59
- Q1
- 3.75
- Min
- 0.82
P/B Ratio (MRQ)
Both look rich against book: Welltower (WELL) at 3.74 sits in the upper P/B ratio quartile, and Simon Property (SPG) at 15.14 prices even higher, above its industry range.
SPG
Equity Real Estate Investment Trusts (REITs) industry group
15.14
- SPG
- 15.14
- Max
- 4.82
- Q3
- 2.67
- Median
- 1.78
- Q1
- 1.20
- Min
- 0.35
WELL
Equity Real Estate Investment Trusts (REITs) industry group
3.74
- Max
- 4.82
- WELL
- 3.74
- Q3
- 2.67
- Median
- 1.78
- Q1
- 1.20
- Min
- 0.35
Valuation Metrics
| Metric | SPG | WELL |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 12.86 | 13.96 |
| P/B Ratio (MRQ) | 15.14 | 3.74 |
| Free Cash Flow Yield (TTM) | -- | -- |