Simon Property (SPG): analysis in plain words
Is Simon Property cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Simon Property (SPG) is listed on the NYSE and we classify it in real estate. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Simon Property according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Simon Property (SPG) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $228.50 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 16.1x | Price over earnings per share |
| Revenue growth | +19.5% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 66.6% | Profit for every 100 of sales |
| Net debt / EBITDA | 5.5x | Years of operating profit to repay debt |
| Dividend yield | 4.01% | Annual dividend over price |
| Market cap | $86.7 billion | What the stock market values it at |
The Simon Property figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any SPG figure that is not available shows as N/A: we do not estimate it.
How Simon Property makes money
Simon Property Group is a U.S. REIT that owns shopping malls, Premium Outlets and The Mills centers. It earns most of its money from rent paid by retailers and restaurants, plus some revenue tied to tenant sales. It operates mainly in the United States, with interests in Asia, Europe and Taubman Realty.
Over the last 12 months, Simon Property brought in revenue of $6.9 billion. For every 100 it sells, Simon Property keeps 81.4 after the direct cost of what it sells (gross margin) and 46.0 after all operating costs (operating margin).
Simon Property against its sector
To know whether a Simon Property figure is high or low you have to put it next to similar companies. This table compares Simon Property with the median of the 9 real estate companies Fintols covers, with data as of November 4, 2026.
| Figure | Simon Property | real estate median |
|---|---|---|
| P/E | 16.1x | 28.9x (9) |
| Revenue growth | +19.5% | +10.4% (9) |
| Net margin | 66.6% | 37.7% (9) |
| Dividend yield | 4.01% | 3.60% (9) |
| Net debt / EBITDA | 5.5x | 5.5x (9) |
In short, against the typical real estate company, Simon Property trades on a lower P/E, grows faster and earns a wider margin. By size, Simon Property ranks number 5 of 7 real estate companies quoted in USD on Fintols.
The bull case for Simon Property
What works in favour of Simon Property, according to its figures as of November 4, 2026:
- Simon Property keeps 66.6 of every 100 it sells as net profit, against 37.7 for the median real estate company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Simon Property grew sales +19.5% in its latest quarter against the same quarter a year earlier, while the median real estate company Fintols tracks grew +10.4%.
- Simon Property earns 120.5% a year on its shareholders' money (return on equity).
The main risk for Simon Property
Debt is heavy: Simon Property carries net debt equal to 5.5x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of real estate, Simon Property is exposed to interest rates, which raise its borrowing costs and lower property values, and vacant space.
Frequently asked questions about Simon Property
Is it a good time to buy Simon Property stock?
Fintols does not tell you whether to buy or sell Simon Property, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Simon Property stock trades at $228.50, 4% below its 52-week high ($238.50) and 28% above its low ($177.88). Its P/E is 16.1x against a real estate median of 28.9x, and 33.7x on the earnings analysts expect over the next 12 months. With Simon Property, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Simon Property pay a dividend?
Yes. As of November 4, 2026, Simon Property pays $8.90 per share a year, which at today's price is a yield of 4.01%. It uses 62% of its profit to pay it.
Is Simon Property stock expensive?
It depends on what you compare it with. On P/E, Simon Property trades at 16.1x its last 12 months of earnings: cheaper than the real estate median (28.9x). A high P/E alone does not make Simon Property expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Simon Property's competitors?
On Fintols we compare Simon Property with American Tower, Prologis and Welltower, which are also in real estate. As of November 4, 2026, American Tower is worth $90.4 billion and trades on a P/E of 27.4; Prologis is worth $127.7 billion and trades on a P/E of 28.9; Welltower is worth $181.9 billion and trades on a P/E of 105.1. Each has a side-by-side comparison with Simon Property below.
Simon Property competitors
- American Tower (AMT) analysis · Simon Property vs American Tower comparison
- Prologis (PLD) analysis · Simon Property vs Prologis comparison
- Welltower (WELL) analysis · Simon Property vs Welltower comparison
To understand Simon Property better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- How to Read a Balance Sheet: A Beginner's Guide
More companies like Simon Property: real estate stocks, S&P 500 companies and S&P 100 companies. Open the full SPG analysis with its valuation and scenarios. Educational content about Simon Property, not investment advice.