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Simon Property Group Inc SPG

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Stock XNYS Rating as of
$147.36 −1.48 (0.99%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Fundamentals in Simon Property Group's High-Quality Portfolio Have Returned to Prepandemic Levels

Kevin Brown

Simon Property Group, the largest mall real estate investment trust, manages one of the top retail portfolios in the country. It owns and operates Class A traditional regional malls and premium outlets in markets with dense populations and high incomes; these malls frequently have domestic or international tourist appeal. The high-quality properties will continue to provide consumers with unique shopping experiences that are hard to replicate elsewhere, and as a result, we think Simon's portfolio will be sought after by retailers that are increasingly pursuing an omnichannel strategy.

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Price vs Fair Value

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SPG is trading at a 212% premium.
Price
$148.83
Fair Value
$749.00
Uncertainty
Medium
1-Star Price
$165.90
5-Star Price
$552.20
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Simon's access to capital, scale, and validated record position the firm to execute on any attractive and available investment opportunities.

Bears

If consumers forced to purchase goods online during the coronavirus crisis permanently change their behavior to favor e-commerce and avoid public places, long-term sales growth could suffer.

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Trading Information

Previous Close Price
$148.84
Day Range
$147.08–148.57
52-Week Range
$102.11–157.83
Bid/Ask
$147.33 / $147.40
Market Cap
$48.04 Bil
Volume/Avg
199,267 / 1.4 Mil

Key Statistics

Price/Earnings (Normalized)
26.32
Price/Sales
8.45
Dividend Yield (Trailing)
5.21%
Dividend Yield (Forward)
5.38%
Total Yield
5.51%

Company Profile

Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $743 in sales per square foot in 2023 compared with $693 in sales per square foot over the 12 months before the pandemic. The company also owns a 21% interest in Klépierre, a European retail company with investments in shopping centers in 16 countries, and joint-venture interests in 33 premium outlets across 11 countries.
Sector
Real Estate
Industry
REIT - Retail
Stock Style Box
Mid Core
Total Number of Employees
3,000
Website
https://www.simon.com

Competitors

Valuation

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Metric
SPG
FRT
MAC
Price/Earnings (Normalized)
 26.3237.86—
Price/Book Value
 15.833.041.37
Price/Sales
 8.457.183.56
Price/Cash Flow
 13.4814.8211.51
Price/Earnings
SPG
FRT
MAC

Financial Strength

Metric
SPG
FRT
MAC
Quick Ratio
 1.031.010.49
Current Ratio
 1.031.010.68
Interest Coverage
 4.482.40−0.89
Quick Ratio
SPG
FRT
MAC

Profitability

Metric
SPG
FRT
MAC
Return on Assets (Normalized)
 6.71%3.13%−0.81%
Return on Equity (Normalized)
 75.95%9.43%−2.45%
Return on Invested Capital (Normalized)
 10.44%5.04%1.21%
Return on Assets
SPG
FRT
MAC
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