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SPGSimon Property Group, Inc.
$204.16$66.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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SPG logo

Simon Property Group, Inc.

SPG
NYSE · Retail REITs
$204.16
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$66.21B
P/E14.4x
52W High$238.50
Volume985.69K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Accretive Acquisitions Drive FFO Growth Amid Rising Leverage

Simon Property Group is executing a growth-by-acquisition strategy that has accelerated revenue and FFO growth, with revenue up 19.5% YoY and FFO per share up 17.3% in 2026Q2. The company's NOI margin remains robust at 81.2%, and AFFO coverage of dividends has...

GrowthAccelerating
ProfitabilityStrong
ValuationAttractive
TechnicalsMixed
Explore valuation models
MARKET ACTION

SPG price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

-44% Peers

P/E is 44% below peer median

03

Market leadership

RS 53 · Avg

Average momentum (RS Rating: 53)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Nov 10
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 19.5% YoY in 2026Q2, with NOI margin at 81.2% and FFO per share up 17.3% to $2.85, reflecting strong operational performance and accretive acquisitions.

Analyst Consensus+9.7% target
Hold(38 analysts)
16 Buy20 Hold2 Sell

The Bull Case

Upside Catalysts

Robust 2025 Revenue & Earnings Growth

Revenue rose 6.72% YoY to $6.36B, while earnings surged 95.32% to $4.62B. Lease income also grew 8.3%, and FFO per share has shown long‑term compounding growth post‑COVID.

Global Expansion via Strategic Acquisitions

SPG acquired the remaining 12% of The Taubman Realty Group in 2025, added luxury outlets in Italy, and opened premium outlets in Indonesia and the U.S., broadening its international footprint and diversifying property types.

High Occupancy & Leasing Momentum

U.S. mall and outlet occupancy hit 96.4% by end‑2025. Over 4,600 leases signed in FY2025 covered more than 17 million sq ft, signaling strong tenant demand and rent‑growth potential.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
SPG+14.62%
S&P 500 (^GSPC)+12.39%
1-Year Return
SPG+15.71%
S&P 500 (^GSPC)+15.77%
3-Year Return
SPG+104.59%
S&P 500 (^GSPC)+75.45%
5-Year Return
SPG+80.22%
S&P 500 (^GSPC)+70.07%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
14.4x
Forward P/E
30.6x
EV/EBITDA80th %ile
20.3x
FCF YieldCash Flow
5.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
14.4x
20.4x
20th· Low
EV/EBITDA
20.3x
17.9x
80th· High
Price/FCF
18.6x
16.9x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$155.78-23.7%
Base (Fair)$207.29+1.0%
Bull$263.04+28.8%
$155.78 Bear$207.29 Base$263.04 Bull
Current Market Price: $204.16
Trades at a 1.5% discount to Base DCF ($207.29)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$6.36B+6.7% YoY
Net income
$4.61B+94.7% YoY
Free cash flow
$3.57B+16.6% YoY
Operating margin
49.9%-2.0 pts YoY
ROIC (TTM)7.7%
Avg ROIC 5Y-
ROE (TTM)89.6%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
Revenue Beat Rate12/12 (100%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 10, 2026
$1.49-9.1%
vs $1.64
$1.7B+3.0%
vs $1.6B
Q2 2026
May 11, 2026
$1.48+1.4%
vs $1.46
$1.8B+13.9%
vs $1.5B
Q1 2026
Feb 2, 2026
$9.35+392.1%
vs $1.90
$1.8B+20.0%
vs $1.5B
Q4 2025
Nov 3, 2025
$1.86-5.6%
vs $1.97
$1.6B+14.2%
vs $1.4B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
PRNewsWire·Sep 15, 2026
Simon® Launches 'It's a Simon® Thing' National Brand Campaign Celebrating the Moments That Bring People Together

New campaign unites Simon Malls® and Premium Outlets® under a single creative identity inspired by discovery, connection, and the enduring role of the mall in American life INDIANAPOLIS, Sept. 15, 2026 /PRNewswire/ -- Simon ®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today unveiled " It's a Simon Thing, "  a new national brand platform built around a long-standing truth: Simon's 200+ Malls and Premium Outlets have been America's gathering places for decades.

The Motley Fool·Sep 15, 2026
Insider Sells 1,434 Shares of Legendary REIT

Kevin M. Kelly executed a non-discretionary disposition of 1,434 shares on August 31, 2026, with an estimated value of ~$307,679. The transaction size represented 6% of the total equity stake held prior to the filing.

24/7 Wall Street·Sep 15, 2026
One Retail REIT Cut Its Dividend in 2020 but Crushed Its Peer Since. Which Is Roth Ready?

One retail REIT never missed a dividend payment while the other slashed its payout during the pandemic shutdown, yet the numbers tell a story that defies what income investors typically expect when picking a Roth IRA winner.

Defense World·Sep 15, 2026
Simon Property Group, Inc. $SPG Shares Acquired by Corient Private Wealth LP

Corient Private Wealth LP grew its holdings in shares of Simon Property Group, Inc. (NYSE: SPG) by 64.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,140 shares of the real estate investment trust's stock after buying

Filtered for Simon Property Group, Inc.More Headlines
04

Compare before deciding

Benchmark SPG against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Simon Property Group, Inc. (SPG)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
SPG logoSPGSimon Property Group, Inc.Current
$204.16$66.21B14.446.72%72.51%89.57%4.2%
MAC logoMACThe Macerich Company
$22.67$6.75B-29.4410.58%-16.81%-6.44%—
CBL logoCBLCBL & Associates Properties, Inc.
$53.06$1.64B12.2312.18%36.77%57.11%—
O logoORealty Income Corporation
$55.61$51.86B47.539.07%21.81%3.25%—
REG logoREGRegency Centers Corporation
$72.73$13.28B25.793.39%38.24%9.22%—
KIM logoKIMKimco Realty Corporation
$22.22$14.98B26.775.06%27.73%5.76%—

Compare SPG vs Peers

Simon Property Group, Inc. (SPG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MAC

Most directly comparable listed peer for SPG.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare SPG against a more recognizable public peer.

Peer Set

Compare Top 5

vs MAC, CBL, O, REG

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

SPG SEC Filings & Documents

Simon Property Group, Inc. (SPG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 10, 2026·SEC

Material company update

May 15, 2026·SEC

Material company update

May 11, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 21, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 10, 2026·SEC

FY 2026

May 11, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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SPG Frequently Asked Questions

Simon Property Group, Inc. (SPG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Simon Property Group, Inc.'s revenue?

Simon Property Group, Inc. (SPG) reported $6.94B in revenue for fiscal year 2025. This represents a 817% increase from $757.3M in 1996.

How fast is Simon Property Group, Inc. growing?

Simon Property Group, Inc. (SPG) grew revenue by 6.7% over the past year. This is steady growth.

Is SPG profitable?

Yes, Simon Property Group, Inc. (SPG) is profitable, generating $4.75B in net income for fiscal year 2025 (72.5% net margin).

Dividend & Returns
Does SPG pay dividends?

Yes, Simon Property Group, Inc. (SPG) pays a dividend with a yield of 4.20%. This makes it attractive for income-focused investors.

What is SPG's return on equity?

Simon Property Group, Inc. (SPG) has a return on equity (ROE) of 89.6%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics
What is Simon Property Group, Inc.'s FFO?

Simon Property Group, Inc. (SPG) generated Funds From Operations (FFO) of $6.43B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is SPG a good dividend stock?

Simon Property Group, Inc. (SPG) offers a 4.20% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in SPG back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →