Comprehensive Stock Comparison
Compare NETSTREIT Corp. (NTST) vs Simon Property Group, Inc. (SPG) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | NTST | 30.0% revenue growth vs SPG's 6.7% |
| Value | SPG | Lower P/E (30.4x vs 63.6x), PEG 0.96 vs 1.09 |
| Quality / Margins | SPG | 72.5% net margin vs NTST's 0.1% |
| Stability / Safety | NTST | Beta 0.16 vs SPG's 0.86 |
| Dividends | NTST | 4.0% yield; SPG pays no meaningful dividend |
| Momentum (1Y) | NTST | +44.5% vs SPG's +14.1% |
| Efficiency (ROA) | SPG | 11.4% ROA vs NTST's 0.0%, ROIC 7.6% vs 2.1% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
NETSTREIT is a real estate investment trust that acquires and manages single-tenant net lease retail properties across the United States. It generates revenue primarily through rental income from long-term leases—typically 10+ years—with national retailers in e-commerce resistant sectors like grocery stores, pharmacies, and convenience stores. The company's competitive advantage lies in its disciplined acquisition strategy focused on essential retail tenants with strong credit profiles and its internal management structure that aligns interests with shareholders.
Simon Property Group is a real estate investment trust that owns and operates premier shopping malls, outlets, and mixed-use destinations across North America, Europe, and Asia. It generates revenue primarily through tenant leases—collecting base rents, percentage rents based on tenant sales, and common area maintenance charges—with retail properties contributing over 90% of its income. The company's moat lies in its portfolio of high-quality, dominant regional malls in prime locations that attract premium tenants and shoppers, creating a network effect that's difficult to replicate.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
SPG leads in 3 of 6 categories — strongest in Profitability & Efficiency and Total Returns. 3 categories are tied.
Financial Metrics (TTM)
SPG is the larger business by revenue, generating $6.4B annually — 36.1x NTST's $176M. SPG is the more profitable business, keeping 72.5% of every revenue dollar as net income compared to NTST's 0.1%. On growth, NTST holds the edge at +27.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NTSTNETSTREIT Corp. | SPGSimon Property Gr… |
|---|---|---|
| RevenueTrailing 12 months | $176M | $6.4B |
| EBITDAEarnings before interest/tax | $133M | $4.7B |
| Net IncomeAfter-tax profit | $185,000 | $4.6B |
| Free Cash FlowCash after capex | $106M | $2.3B |
| Gross MarginGross profit ÷ Revenue | +92.4% | +85.7% |
| Operating MarginEBIT ÷ Revenue | +27.7% | +49.9% |
| Net MarginNet income ÷ Revenue | +0.1% | +72.5% |
| FCF MarginFCF ÷ Revenue | +59.9% | +35.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +27.7% | +13.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +110.6% | +3.6% |
Valuation Metrics
At 14.4x trailing earnings, SPG trades at a 94% valuation discount to NTST's 259.6x P/E. Adjusting for growth (PEG ratio), SPG offers better value at 0.46x vs NTST's 4.44x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | NTSTNETSTREIT Corp. | SPGSimon Property Gr… |
|---|---|---|
| Market CapShares × price | $1.7B | $66.3B |
| Enterprise ValueMkt cap + debt − cash | $1.7B | $95.4B |
| Trailing P/EPrice ÷ TTM EPS | 259.63x | 14.42x |
| Forward P/EPrice ÷ next-FY EPS est. | 63.58x | 30.39x |
| PEG RatioP/E ÷ EPS growth rate | 4.44x | 0.46x |
| EV / EBITDAEnterprise value multiple | 12.59x | 20.48x |
| Price / SalesMarket cap ÷ Revenue | 8.89x | 10.42x |
| Price / BookPrice ÷ Book value/share | 1.20x | 9.91x |
| Price / FCFMarket cap ÷ FCF | 15.83x | — |
Profitability & Efficiency
SPG delivers a 68.8% return on equity — every $100 of shareholder capital generates $69 in annual profit, vs $0 for NTST. On the Piotroski fundamental quality scale (0–9), NTST scores 6/9 vs SPG's 5/9, reflecting solid financial health.
| Metric | NTSTNETSTREIT Corp. | SPGSimon Property Gr… |
|---|---|---|
| ROE (TTM)Return on equity | +0.0% | +68.8% |
| ROA (TTM)Return on assets | +0.0% | +11.4% |
| ROICReturn on invested capital | +2.1% | +7.6% |
| ROCEReturn on capital employed | +2.1% | +9.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | — | 4.47x |
| Net DebtTotal debt minus cash | -$14M | $29.1B |
| Cash & Equiv.Liquid assets | $14M | $823M |
| Total DebtShort + long-term debt | $0 | $29.9B |
| Interest CoverageEBIT ÷ Interest expense | — | 3.26x |
Total Returns (with DRIP)
A $10,000 investment in SPG five years ago would be worth $21,129 today (with dividends reinvested), compared to $13,826 for NTST. Over the past 12 months, NTST leads with a +44.5% total return vs SPG's +14.1%. The 3-year compound annual growth rate (CAGR) favors SPG at 23.1% vs NTST's 4.8% — a key indicator of consistent wealth creation.
| Metric | NTSTNETSTREIT Corp. | SPGSimon Property Gr… |
|---|---|---|
| YTD ReturnYear-to-date | +16.9% | +10.8% |
| 1-Year ReturnPast 12 months | +44.5% | +14.1% |
| 3-Year ReturnCumulative with dividends | +15.2% | +86.7% |
| 5-Year ReturnCumulative with dividends | +38.3% | +111.3% |
| 10-Year ReturnCumulative with dividends | +41.7% | +44.9% |
| CAGR (3Y)Annualised 3-year return | +4.8% | +23.1% |
Risk & Volatility
NTST is the less volatile stock with a 0.16 beta — it tends to amplify market swings less than SPG's 0.86 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | NTSTNETSTREIT Corp. | SPGSimon Property Gr… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.16x | 0.86x |
| 52-Week HighHighest price in past year | $21.13 | $205.12 |
| 52-Week LowLowest price in past year | $14.00 | $136.34 |
| % of 52W HighCurrent price vs 52-week peak | +98.3% | +99.4% |
| RSI (14)Momentum oscillator 0–100 | 71.2 | 67.1 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 1.3M |
Analyst Outlook
Wall Street rates NTST as "Buy" and SPG as "Hold". Consensus price targets imply 1.1% upside for NTST (target: $21) vs -4.5% for SPG (target: $195). NTST is the only dividend payer here at 4.02% yield — a key consideration for income-focused portfolios.
| Metric | NTSTNETSTREIT Corp. | SPGSimon Property Gr… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $21.00 | $194.60 |
| # AnalystsCovering analysts | 18 | 37 |
| Dividend YieldAnnual dividend ÷ price | +4.0% | — |
| Dividend StreakConsecutive years of raises | 0 | 2 |
| Dividend / ShareAnnual DPS | $0.83 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Aug 20 | Feb 26 | Change |
|---|---|---|---|
| NETSTREIT Corp. (NTST) | 100 | 104.68 | +4.7% |
| Simon Property Grou… (SPG) | 100 | 284.55 | +184.6% |
Simon Property Grou… (SPG) returned +111% over 5 years vs NETSTREIT Corp. (NTST)'s +38%. A $10,000 investment in SPG 5 years ago would be worth $21,129 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| NETSTREIT Corp. (NTST) | $24M | $195M | +718.4% |
| Simon Property Grou… (SPG) | $5.4B | $6.4B | +17.1% |
Simon Property Group, Inc.'s revenue grew from $5.4B (2016) to $6.4B (2025) — a 1.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| NETSTREIT Corp. (NTST) | -85.2% | 3.5% | +104.2% |
| Simon Property Grou… (SPG) | 33.8% | 72.5% | +114.3% |
Simon Property Group, Inc.'s net margin went from 34% (2016) to 73% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| NETSTREIT Corp. (NTST) | 286.3 | 220.5 | -23.0% |
| Simon Property Grou… (SPG) | 27.5 | 13.1 | -52.4% |
NETSTREIT Corp. has traded in a 115x–286x P/E range over 4 years; current trailing P/E is ~260x. Simon Property Group, Inc. has traded in a 13x–28x P/E range over 9 years; current trailing P/E is ~14x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| NETSTREIT Corp. (NTST) | -0.84 | 0.08 | +109.5% |
| Simon Property Grou… (SPG) | 5.87 | 14.14 | +140.9% |
Simon Property Group, Inc.'s EPS grew from $5.87 (2016) to $14.14 (2025) — a 10% CAGR.
Chart 6Free Cash Flow — 5 Years
NETSTREIT Corp. generated $110M FCF in 2025 (+256% vs 2021). Simon Property Group, Inc. generated $0M FCF in 2025 (-100% vs 2021).
NTST vs SPG: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is NTST or SPG a better buy right now?
Simon Property Group, Inc. (SPG) offers the better valuation at 14.4x trailing P/E (30.4x forward), making it the more compelling value choice. Analysts rate NETSTREIT Corp. (NTST) a "Buy" — based on 18 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NTST or SPG?
On trailing P/E, Simon Property Group, Inc. (SPG) is the cheapest at 14.4x versus NETSTREIT Corp. at 259.6x. On forward P/E, Simon Property Group, Inc. is actually cheaper at 30.4x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Simon Property Group, Inc. wins at 0.96x versus NETSTREIT Corp.'s 1.09x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — NTST or SPG?
Over the past 5 years, Simon Property Group, Inc. (SPG) delivered a total return of +111.3%, compared to +38.3% for NETSTREIT Corp. (NTST). A $10,000 investment in SPG five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: SPG returned +44.9% versus NTST's +41.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NTST or SPG?
By beta (market sensitivity over 5 years), NETSTREIT Corp. (NTST) is the lower-risk stock at 0.16β versus Simon Property Group, Inc.'s 0.86β — meaning SPG is approximately 424% more volatile than NTST relative to the S&P 500.
05Which has better profit margins — NTST or SPG?
Simon Property Group, Inc. (SPG) is the more profitable company, earning 72.5% net margin versus 3.5% for NETSTREIT Corp. — meaning it keeps 72.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SPG leads at 49.9% versus 25.7% for NTST. At the gross margin level — before operating expenses — NTST leads at 99.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is NTST or SPG more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Simon Property Group, Inc. (SPG) is the more undervalued stock at a PEG of 0.96x versus NETSTREIT Corp.'s 1.09x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Simon Property Group, Inc. (SPG) trades at 30.4x forward P/E versus 63.6x for NETSTREIT Corp. — 33.2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NTST: 1.1% to $21.00.
07Which pays a better dividend — NTST or SPG?
In this comparison, NTST (4.0% yield) pays a dividend. SPG does not pay a meaningful dividend and should not be held primarily for income.
08Is NTST or SPG better for a retirement portfolio?
For long-horizon retirement investors, NETSTREIT Corp. (NTST) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.16), 4.0% yield). Both have compounded well over 10 years (NTST: +41.7%, SPG: +44.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between NTST and SPG?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: NTST is a small-cap income-oriented stock; SPG is a mid-cap deep-value stock. NTST pays a dividend while SPG does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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