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

Updated on October 6, 2025

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

Company Profile

Both SPG and WPC 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	WPC
Company Name	Simon Property Group, Inc.	W. P. Carey Inc.
Country	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry	Retail REITs	Diversified REITs
Market Capitalization	69.87 billion USD	15.15 billion USD
Exchange	NYSE	NYSE
Listing Date	December 14, 1993	January 21, 1998
Security Type	REIT	REIT

Historical Performance

This chart compares the performance of SPG and WPC 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. WPC: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	SPG	WPC
5-Day Price Return	-0.33%	1.65%
13-Week Price Return	11.09%	9.44%
26-Week Price Return	11.53%	9.65%
52-Week Price Return	9.90%	13.29%
Month-to-Date Return	-1.30%	2.41%
Year-to-Date Return	7.56%	27.02%
10-Day Avg. Volume	1.46M	1.13M
3-Month Avg. Volume	1.63M	1.25M
3-Month Volatility	17.54%	16.38%
Beta	1.43	0.83

Profitability

Return on Equity (TTM)

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.

WPC

4.00%

Diversified REITs Industry

Max: 8.70%
Q3: 6.54%
Median: 6.09%
Q1: 4.11%
Min: 0.75%

WPC’s Return on Equity of 4.00% is in the lower quartile for the Diversified REITs industry. This indicates a less efficient generation of profit from its equity base when compared to its competitors.

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

Net Profit Margin (TTM)

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.

WPC

20.42%

Diversified REITs Industry

Max: 74.45%
Q3: 47.03%
Median: 38.18%
Q1: 24.38%
Min: -1.06%

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

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

Operating Profit Margin (TTM)

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.

WPC

48.73%

Diversified REITs Industry

Max: 70.72%
Q3: 62.68%
Median: 48.73%
Q1: 40.08%
Min: 7.08%

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

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

Profitability at a Glance

Symbol	SPG	WPC
Return on Equity (TTM)	79.00%	4.00%
Return on Assets (TTM)	6.44%	1.91%
Net Profit Margin (TTM)	35.06%	20.42%
Operating Profit Margin (TTM)	50.96%	48.73%
Gross Profit Margin (TTM)	82.17%	89.03%

Financial Strength

Current Ratio (MRQ)

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.

WPC

0.29

Diversified REITs Industry

Max: 2.76
Q3: 1.41
Median: 0.77
Q1: 0.41
Min: 0.16

WPC’s Current Ratio of 0.29 falls into the lower quartile for the Diversified 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. WPC: A comparison of their Current Ratio (MRQ) against their respective Retail REITs and Diversified REITs industry benchmarks.

Debt-to-Equity Ratio (MRQ)

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.

WPC

1.05

Diversified REITs Industry

Max: 1.05
Q3: 0.84
Median: 0.70
Q1: 0.54
Min: 0.18

WPC’s leverage is in the upper quartile of the Diversified REITs industry, with a Debt-to-Equity Ratio of 1.05. While this approach can boost equity growth, it also exposes the company to greater financial vulnerability.

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

Interest Coverage Ratio (TTM)

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.

WPC

3.30

Diversified REITs Industry

Max: 12.41
Q3: 7.57
Median: 3.42
Q1: 1.95
Min: 0.70

WPC’s Interest Coverage Ratio of 3.30 is positioned comfortably within the norm for the Diversified REITs industry, indicating a standard and healthy capacity to cover its interest payments.

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

Financial Strength at a Glance

Symbol	SPG	WPC
Current Ratio (MRQ)	0.52	0.29
Quick Ratio (MRQ)	0.52	0.29
Debt-to-Equity Ratio (MRQ)	10.36	1.05
Interest Coverage Ratio (TTM)	11.31	3.30

Growth

Revenue Growth

SPG vs. WPC: 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. WPC: 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

4.52%

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.

WPC

5.17%

Diversified REITs Industry

Max: 7.38%
Q3: 6.36%
Median: 4.62%
Q1: 3.94%
Min: 1.58%

WPC’s Dividend Yield of 5.17% is consistent with its peers in the Diversified REITs industry, providing a dividend return that is standard for its sector.

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

Dividend Payout Ratio (TTM)

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.

WPC

230.94%

Diversified REITs Industry

Max: 149.20%
Q3: 118.20%
Median: 95.25%
Q1: 63.98%
Min: 22.99%

At 230.94%, WPC’s Dividend Payout Ratio is exceptionally high, exceeding the typical range for the Diversified REITs industry. While this provides a significant return to shareholders, it may limit funds for reinvestment and could be difficult to sustain.

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

Dividend at a Glance

Symbol	SPG	WPC
Dividend Yield (TTM)	4.52%	5.17%
Dividend Payout Ratio (TTM)	129.03%	230.94%

Valuation

Price-to-Earnings Ratio (TTM)

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.

WPC

44.64

Diversified REITs Industry

Max: 47.15
Q3: 26.97
Median: 22.38
Q1: 10.79
Min: 9.33

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

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

Price-to-Sales Ratio (TTM)

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.

WPC

9.12

Diversified REITs Industry

Max: 15.44
Q3: 9.83
Median: 8.18
Q1: 4.90
Min: 1.68

WPC’s P/S Ratio of 9.12 aligns with the market consensus for the Diversified REITs industry. This suggests its valuation, based on sales, is seen as standard and is on par with its competitors.

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

Price-to-Book Ratio (MRQ)

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.

WPC

1.66

Diversified REITs Industry

Max: 1.66
Q3: 1.19
Median: 0.90
Q1: 0.65
Min: 0.52

WPC’s P/B Ratio of 1.66 is in the upper tier for the Diversified 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 vs. WPC: A comparison of their Price-to-Book Ratio (MRQ) against their respective Retail REITs and Diversified REITs industry benchmarks.

Valuation at a Glance

Symbol	SPG	WPC
Price-to-Earnings Ratio (TTM)	28.55	44.64
Price-to-Sales Ratio (TTM)	10.01	9.12
Price-to-Book Ratio (MRQ)	21.41	1.66
Price-to-Free Cash Flow Ratio (TTM)	19.22	71.35