Simon Property Group/$SPG

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About Simon Property Group

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 $736 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.

Ticker

$SPG

Primary listing

NYSE

Employees

2,800

SPG Metrics

BasicAdvanced
$59B
26.31
$6.87
1.40
$8.45
4.76%

What the Analysts think about SPG

Analyst ratings (Buy, Hold, Sell) for Simon Property Group stock.

Bulls say / Bears say

Simon Property Group raised its full-year 2025 real estate FFO guidance to $12.60–$12.70 per share, up from $12.45–$12.65, driven by resilient leasing demand across its portfolio and strong tenant performance (Reuters)
In Q3 2025, Simon delivered FFO of $3.22 per share (up 5.6% year-over-year), lease income of $1.45 billion (up 8.4%), occupancy of 96.4%, and a 2.5% increase in base minimum rent per square foot, underscoring robust operational momentum (Reuters)
Simon exited Q3 2025 with $9.5 billion in liquidity—comprising $2.1 billion in cash and $7.4 billion in available revolver capacity—providing significant financial flexibility to pursue growth and weather market fluctuations (Nasdaq)
Simon's leverage remains elevated, having issued $1.5 billion in senior notes and completed $5.4 billion in secured loan transactions in Q3 2025, with a trailing 12-month adjusted debt-to-EBITDA ratio of ~5.5×, which may constrain financial flexibility amid rising interest rates (TipRanks) (Investing.com)
Citi reduced Simon’s 2025 core FFO estimate to $12.21 from $12.52 and cut its price target to $170 (from $185), highlighting valuation risks as the stock trades near elevated multiples (Investing.com)
National shopping center vacancy rose to 5.8% in Q3 2025—up 50 bps year-over-year—and marketwide negative net absorption signals potential pressure on occupancy and rent growth for malls like Simon’s (Cushman & Wakefield)
Data summarised monthly by Lightyear AI. Last updated on 5 Nov 2025.

SPG Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

SPG Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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