Simon Property Group Earnings: Property NOI Remains High Due to Strong Tenant Sales Growth
Simon Property Group reported real estate funds from operations of $3.37 per share and same-store net operating income growth of 6.7% for the third quarter.
Simon Property Group Inc SPG
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 change their behavior to favor e-commerce over shopping in stores at a faster adoption rate than the historical average, long-term sales growth could suffer.
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Trading Information
- Previous Close Price
- $228.42
- Day Range
- $228.97–233.97
- 52-Week Range
- $177.88–238.50
- Bid/Ask
- $227.79 / $234.15
- Shares Outstanding
- 322.47M
- Market Cap
- $75.14B
- Volume/Avg
- 265 / 1M
Key Statistics
- Price/Earnings (Normalized)
- 33.35
- Price/Sales
- 10.57
- Dividend Yield (Trailing)
- 3.82%
- Dividend Yield (Forward)
- 3.95%
- Dividend Payment Schedule
- Mar, Jun, Sep, Dec
- Total Yield
- 4.91%
Company Profile
Simon Property Group is the largest retail real estate investment trust in the United States. Its portfolio includes an interest in 254 properties: 114 traditional malls, 108 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), six lifestyle centers, and 12 other retail properties. Simon's portfolio averaged $838 in sales per square foot over the trailing 12 months. The company also owns a 22% interest in Klépierre, a European retail company with investments in shopping centers in 14 countries, and joint-venture interests in 33 premium outlets across 14 countries.
- Sector
- Real Estate
- Industry
- REIT - Retail
- Stock Style Box
- Mid Core
- Total Number of Employees
- 3,600
- Website
- https://www.simon.com
Competitors
Valuation
Metric | SPG | MAC | FRT |
|---|---|---|---|
Price/Earnings (Normalized) | 33.35 | — | 39.39 |
Price/Book Value | 18.58 | 2.64 | 3.18 |
Price/Sales | 10.57 | 6.70 | 7.34 |
Price/Cash Flow | 16.31 | 24.13 | 15.23 |
Price/Earnings
SPG
MAC
FRT
Financial Strength
Metric | SPG | MAC | FRT |
|---|---|---|---|
Quick Ratio | 0.39 | 0.94 | 0.99 |
Current Ratio | 0.39 | 1.03 | 0.99 |
Interest Coverage | 5.66 | 0.63 | 3.26 |
Quick Ratio
SPG
MAC
FRT
Profitability
Metric | SPG | MAC | FRT |
|---|---|---|---|
Return on Assets (Normalized) | 8.62% | −0.57% | 5.17% |
Return on Equity (Normalized) | 80.12% | −1.86% | 15.02% |
Return on Invested Capital (Normalized) | 12.19% | 2.78% | 7.25% |
Return on Assets
SPG
MAC
FRT
REIT - Retail Industry Comparables
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| Unibail-Rodamco-Westfield ADR URMCY | — | LOCK|kXS | $15B | |||
| CapitaLand Integrated Commercial Trust CPAMF | — | LOCK|?$ | $14B | |||
| Regency Centers Corp REG | LOCK|&%^^lzv | LOCK|mZ | $14B | |||
| Link Real Estate Investment Trust LKREF | — | LOCK|K?$y? | $13B | |||
| Federal Realty Investment Trust FRT | LOCK|D<fYP<V | LOCK|H! | $10B | |||
| Macerich Co MAC | LOCK|$&&gDS | LOCK|!Z | $7B |
United States