Simon Property Group, Inc.

Valuation Analysis

About the Company

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc., the Operating Partnership, and its subsidiaries. We own, develop and manage premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, The Mills, and International Properties. At December 31, 2024, we owned or had an interest in 229 properties comprising 183 million square feet in North America, Asia and Europe. We also owned an 88% interest in The Taubman Realty Group, or

Simon Property Group, Inc. Stock at a Glance

Simon Property Group, Inc. (SPG) is currently trading at $219.04 with a market capitalization of $83.2B. The trailing P/E ratio stands at 15.22x, with a forward P/E of 32.66x. The 52-week range spans from $155.92 to $220.44; the current price is 0.6% below the yearly high. Year-over-year revenue growth stands at +19.3%. The net profit margin stands at 70.59%.

💰 Dividend

Simon Property Group, Inc. pays an annual dividend of $8.80 per share, representing a yield of 4.02%. The payout ratio stands at 60.15%.

📊 Analyst Rating

20 analysts rate Simon Property Group, Inc. (SPG) on consensus: Buy. The average price target is $214.55, implying -2.05% from the current price. Analyst price targets range from $194.00 to $250.00.

Simon Property Group, Inc.: The Investment Case in Detail

Simon Property Group, Inc. (SPG) operates in the Real Estate — specifically REIT - Retail — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

Revenue is growing at a healthy 19.3% pace year-over-year, suggesting the business model continues to find new customers and pricing power. With a gross margin near 81.58%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns. Return on equity of 113.59% places management among the most capital-efficient operators in the public market — every euro of shareholder capital is working hard.

The Bear Case

The debt-to-equity ratio of 457.47% is elevated, meaning the company relies heavily on creditors — refinancing terms will become more important than operational performance in the next economic downturn.

Valuation in Context

At a PEG of 4.58, investors are paying more than three times the growth rate for each unit of earnings — that pricing assumes growth not only continues but accelerates from here.

What to Watch Next

• The share is trading at 97.8% of its 52-week range — a break above the recent high opens technical upside, a failure here often invites profit-taking.
• The dividend yield near 4.02% combined with a payout ratio of 60.15% leaves room for further hikes — a track record of consecutive raises is a strong income signal.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Risk Profile

The data points to market-like volatility, higher leverage relative to equity.

Trading Data

💵 Dividend Info

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