Overview Dividends

(SPG) Simon Property - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US8288061091

Malls, Outlets, Mixed-Use, Retail, International

Retail REITs
Market Cap in USD: 71,024m

IPO / Inception: 1993-12-13
Return 12m vs S&P 500: -2.79%

EPS (Earnings per Share)

EPS CAGR: 1.38%
EPS Trend: 8.5%

Last SUE: -0.35
Qual. Beats: 0

Revenue

Rev. CAGR: 5.16%
Rev. Trend: 90.3%

Last SUE: 0.99
Qual. Beats: 1

Dividends

Dividend Yield	4.55%
Yield on Cost 5y	13.05%
Yield CAGR 5y	7.79%
Payout Consistency	94.8%
Payout Ratio	137.9%

Risk via 5d forecast
Volatility	20.4%
Value at Risk 5%th	31.6%
Relative Tail Risk	-5.83%

Reward TTM
Sharpe Ratio	0.47
Alpha	-0.52
CAGR/Max DD	0.97

Character TTM
Hurst Exponent	0.354
Beta	0.861
Beta Downside	1.034

Drawdowns 3y
Max DD	24.32%
Mean DD	6.50%
Median DD	4.71%

Description: SPG Simon Property December 03, 2025

Simon Property Group, Inc. (NYSE: SPG) operates as a self-administered REIT, with its majority-owned Operating Partnership holding 229 shopping-center assets (≈183 million sq ft) across North America, Europe, and Asia as of 31 Dec 2024. The portfolio includes upscale malls, Premium Outlets, The Mills, and mixed-use sites, and the firm maintains strategic stakes in Taubman Realty Group (88 % ownership) and Klepierre (22.4 %).

Key performance indicators from the most recent filing show an occupancy rate of roughly 94 % and same-store sales growth of 3 % YoY, supporting a 2024 adjusted FFO of $2.5 billion ($5.85 per share) and a dividend yield near 5.5 %. The company’s leverage sits at a net-debt-to-EBITDA ratio of about 5.5×, reflecting a balance between growth-oriented acquisitions and the higher financing costs tied to the current 5 %-plus interest-rate environment. Sector-wide, consumer discretionary spending trends and the shift toward experiential retail are the primary drivers of foot-traffic and rent-growth potential for premium mall operators.

For a deeper quantitative view of SPG’s valuation metrics, you might find ValueRay’s analyst toolkit worth a look.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (2.23b TTM) > 0 and > 6% of Revenue (6% = 369.3m TTM)

FCFTA 0.09 (>2.0%) and ΔFCFTA 0.12pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -16.67% (prev -2.00%; Δ -14.68pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.12 (>3.0%) and CFO 4.02b > Net Income 2.23b (YES >=105%, WARN >=100%)

Net Debt (24.77b) to EBITDA (4.70b) ratio: 5.27 <= 3.0 (WARN <= 3.5)

Current Ratio 0.70 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (327.1m) change vs 12m ago 0.30% (target <= -2.0% for YES)

Gross Margin 83.33% (prev 83.03%; Δ 0.29pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 18.41% (prev 17.76%; Δ 0.65pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.77 (EBITDA TTM 4.70b / Interest Expense TTM 1.85b) >= 6 (WARN >= 3)

Altman Z'' -0.46

(A) -0.03 = (Total Current Assets 2.37b - Total Current Liabilities 3.40b) / Total Assets 33.60b

(B) -0.21 = Retained Earnings (Balance) -6.93b / Total Assets 33.60b

(D) -0.24 = Book Value of Equity -7.22b / Total Liabilities 30.63b

Total Rating: -0.46 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 67.03

1. Piotroski 3.50pt

2. FCF Yield 3.26%

3. FCF Margin 50.71%

4. Debt/Equity 11.20

5. Debt/Ebitda 5.27

6. ROIC - WACC (= 3.77)%

7. RoE 86.35%

8. Rev. Trend 90.29%

9. EPS Trend 8.52%

What is the price of SPG shares?

As of December 29, 2025, the stock is trading at USD 187.71 with a total of 402,153 shares traded.
Over the past week, the price has changed by +0.56%, over one month by +1.99%, over three months by +2.24% and over the past year by +15.43%.

Is SPG a buy, sell or hold?

Simon Property has received a consensus analysts rating of 3.84. Therefore, it is recommended to buy SPG.

Strong Buy: 7
Buy: 2
Hold: 10
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the SPG price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	194.1	3.4%
Analysts Target Price	194.1	3.4%
ValueRay Target Price	228.5	21.7%

SPG Fundamental Data Overview December 26, 2025

Market Cap USD = 71.02b (71.02b USD * 1.0 USD.USD)
P/E Trailing = 27.328
P/E Forward = 30.03
P/S = 11.5388
P/B = 26.5239
P/EG = 8.7406
Beta = 1.394
Revenue TTM = 6.16b USD
EBIT TTM = 3.28b USD
EBITDA TTM = 4.70b USD
Long Term Debt = 25.79b USD (from longTermDebt, last quarter)
Short Term Debt = 2.72b USD (from shortTermDebt, last fiscal year)
Debt = 26.32b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 24.77b USD (from netDebt column, last quarter)
Enterprise Value = 95.79b USD (71.02b + Debt 26.32b - CCE 1.55b)
Interest Coverage Ratio = 1.77 (Ebit TTM 3.28b / Interest Expense TTM 1.85b)
FCF Yield = 3.26% (FCF TTM 3.12b / Enterprise Value 95.79b)
FCF Margin = 50.71% (FCF TTM 3.12b / Revenue TTM 6.16b)
Net Margin = 36.29% (Net Income TTM 2.23b / Revenue TTM 6.16b)
Gross Margin = 83.33% ((Revenue TTM 6.16b - Cost of Revenue TTM 1.03b) / Revenue TTM)
Gross Margin QoQ = 83.44% (prev 85.65%)
Tobins Q-Ratio = 2.85 (Enterprise Value 95.79b / Total Assets 33.60b)
Interest Expense / Debt = 4.42% (Interest Expense 1.16b / Debt 26.32b)
Taxrate = 2.14% (15.1m / 705.2m)
NOPAT = 3.21b (EBIT 3.28b * (1 - 2.14%))
Current Ratio = 0.70 (Total Current Assets 2.37b / Total Current Liabilities 3.40b)
Debt / Equity = 11.20 (Debt 26.32b / totalStockholderEquity, last quarter 2.35b)
Debt / EBITDA = 5.27 (Net Debt 24.77b / EBITDA 4.70b)
Debt / FCF = 7.94 (Net Debt 24.77b / FCF TTM 3.12b)
Total Stockholder Equity = 2.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.65% (Net Income 2.23b / Total Assets 33.60b)
RoE = 86.35% (Net Income TTM 2.23b / Total Stockholder Equity 2.59b)
RoCE = 11.56% (EBIT 3.28b / Capital Employed (Equity 2.59b + L.T.Debt 25.79b))
RoIC = 11.64% (NOPAT 3.21b / Invested Capital 27.58b)
WACC = 7.87% (E(71.02b)/V(97.34b) * Re(9.19%) + D(26.32b)/V(97.34b) * Rd(4.42%) * (1-Tc(0.02)))
Discount Rate = 9.19% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.18%
[DCF Debug] Terminal Value 74.35% ; FCFE base≈3.09b ; Y1≈3.12b ; Y5≈3.37b
Fair Price DCF = 148.7 (DCF Value 48.56b / Shares Outstanding 326.5m; 5y FCF grow 0.45% → 3.0% )
EPS Correlation: 8.52 | EPS CAGR: 1.38% | SUE: -0.35 | # QB: 0
Revenue Correlation: 90.29 | Revenue CAGR: 5.16% | SUE: 0.99 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.55 | Chg30d=+0.020 | Revisions Net=+1 | Analysts=3
EPS next Year (2026-12-31): EPS=6.88 | Chg30d=+0.060 | Revisions Net=+1 | Growth EPS=-1.2% | Growth Revenue=+4.3%

Additional Sources for SPG Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle