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Simon Property Group (SPG) stock

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NYSE: SPG NYSE Retail REITs Next results ~November 5, 2026

B Fundamentals grade

Simon Property Group is a US-listed company in the retail REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$360

Funds-from-operations model

Base case. Range ~$300–$440. Funds from operations growing 2.5% a year, discounted at 8%.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Simon Property Group valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Simon Property Group files

Where Simon Property stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6.94bn, up 15.0% on a year earlier, faster than 10.9% a quarter earlier. Our valuation models combined value is $326 a share, against a share price of $206.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Simon Property Group's trailing-twelve-month revenue grew 15.0% year on year, with a free-cash-flow margin of 46.4%. Where it stands out: net margin of 66.5% ranks 2 of 24 retail reits companies we cover. Where it lags: long-term debt as % of assets of 72.3% ranks 18 of 20 retail reits companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 2.4% while net income grew 118.6%: a 116pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.0% over the last 12 months, against a median of 8.7% for retail reits companies we cover.
  • Growth speeding up. The growth rate is 4.1 points higher than a quarter earlier.
  • High operating margin. 47.4% of revenue is left as operating profit, against a median of 47.7% for retail reits companies we cover.
  • Strong cash generation. 46.4% of revenue turned into free cash flow.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Margins narrowing. Operating margin is down 3.6 points on a year ago.
  • High debt. Long-term debt exceeds cash by $27.7bn, more than 1.5 times annual revenue.
  • Weak cash conversion. Free cash flow was 70% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 72.3% ranks 18 of 20 retail reits companies we cover (median 46.6%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$1.73 against an average estimate of $1.57: beat by 10.1%
Revenue
$1.79bn, up 19.5% on a year earlier
Share reaction
-1.5% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Guidance given
estimated Real Estate FFO per share $13.2 to $13.3 (year ending December 31, 2026); estimated net income attributable to common stockholders per diluted share $6.47 to $7.47 (year ending December 31, 2026)
Next report
November 5, 2026; average EPS estimate $1.62

Simon Property Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.0%
  • 1 week+4.4%
  • 1 month+10.3%
  • This year+23.8%
  • 1 year+31.3%
  • 5 years+74.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.9B
Operating margin
47.4%
Net margin
66.5%
EPS (TTM, diluted)
$14.19

Growth

Revenue growth
+15.0%
Change in growth rate
+4.1 pts
Share count change
−0.3%

Earnings

Last results
August 10, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Simon Property Group valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Simon Property Group as an equity reit, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.74 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$360 ~$300–$440 Primary model, counts double
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$6.9 ~$160–$340 Left out: out of range vs price (0.03x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. — Does not apply: no current dividend figure in the company's tagged filings
Combined value Weighted average of the models that apply: the primary model (funds-from-operations model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$360 ~$300–$440 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Simon Property Group with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

75 /100

Strong moat

How hard Simon Property Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Net income has been a median 6.5% of total assets over 10 years.

  • Durability 20 / 20

    Operating margin has been a median 49.4%; its worst year was 44.3%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 51.9% of revenue.

  • Discipline 11 / 20

    The diluted share count rose 1.7% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $1.7bn and EPS of $1.62 (range $1.53 to $1.72) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.85 −1% $6.7bn +14%
Next $6.77 +16% $6.9bn +4%

Next year's EPS estimate has moved +0.5% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −9.2% on 90 days ago. In the last 30 days, 0 analysts raised Simon Property Group's forecast and 2 cut it.

Consensus EPS forecast Simon Property Group, last 90 days
$5.50 $6.00 $6.50 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.44 Current fiscal year, 60 days ago: $6.44 Current fiscal year, 30 days ago: $5.85 Current fiscal year, 7 days ago: $5.85 Current fiscal year, Now: $5.85 $5.85 Next fiscal year, 90 days ago: $6.74 Next fiscal year, 60 days ago: $6.71 Next fiscal year, 30 days ago: $6.80 Next fiscal year, 7 days ago: $6.77 Next fiscal year, Now: $6.77 $6.77

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.44$6.74
60 days ago $6.44$6.71
30 days ago $5.85$6.80
7 days ago $5.85$6.77
Now $5.85$6.77

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.57 $1.73 +10.1%
Mar 2026 $1.49 $1.22 −18.0%
Dec 2025 $1.97 $1.04 −47.1%
Sept 2025 $1.68 $1.60 −4.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 10, 2026
  • Estimated net income attributable to common stockholders per diluted share year ending December 31, 2026 $6.47 to $7.47 GAAP
    “Estimated net income attributable to common stockholders per diluted share $ 6.47 $ 7.47 $ 6.61 $ 6.76” source
  • Estimated Real Estate FFO per share year ending December 31, 2026 $13.20 to $13.30 Non-GAAP Raised
    “The Company is increasing its outlook for full year 2026 Real Estate FFO per diluted share to $13.20 to $13.30, an increase of $0.08 per diluted share at the midpoint.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

21 analysts, Oct 2026
Buy629%
Hold1571%
Sell00%

Monthly trend

  1. Oct 202651521
  2. Sep 202651420
  3. Aug 202661421
  4. Jul 202661321

Counts of recommendations published by analysts covering Simon Property Group, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
96%
of shares
Held by insiders
1.8%
of shares
Employees
3,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +32.0%

$167.98 on October 31, 2025 to $221.73

ThenNowEffect
Revenue (last 12 months) $6.0bn $6.9bn +15.0%
Net margin 35.0% 66.5% +90.0%
P/E multiple 26.0x 15.6x −39.8%
Share count 326m 325m +0.3%

Biggest factor: net margin.

Last 3 years +117.9%

$101.77 on November 3, 2023 to $221.73

ThenNowEffect
Revenue (last 12 months) $5.4bn $6.9bn +27.7%
Net margin 39.6% 66.5% +68.1%
P/E multiple 15.5x 15.6x +1.0%
Share count 327m 325m +0.5%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SPG+96%−22%+29%+27%+13%+24%
Industry peers (median)+46%−11%+6%+15%−3%+11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SPG83%25%58%75%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SPG−13%−44%−22%−10%−24%−16%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 77% from August 1, 2016 to April 2, 2020. Getting back needed a 335% gain, reached on March 18, 2024, 1446 days after the low.

Price behaviour

52-week range
$168.85 – $234.19
From 52-week high
−5.3%
vs 50-day average
+7.2%
vs 200-day average
+9.3%
Volatility (1 year)
19%
Beta vs S&P 500
0.17

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±3.0%
After a week
10 up, 2 down
typical move ±3.8%
After a month
10 up, 2 down
typical move ±7.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 −1.5% −0.3% −0.6% −7.3%
May 11, 2026 +1.8% +0.1% −0.8% +6.4%
February 2, 2026 −1.0% −0.4% +2.7% +6.2%
November 3, 2025 +3.9% −1.0% +4.1% +3.7%
August 4, 2025 +5.4% +1.0% +2.8% +11.9%
May 12, 2025 −1.4% +4.0% +0.8% −0.9%
February 4, 2025 +3.3% +1.1% +6.3% +0.7%
November 1, 2024 +1.8% +0.2% +5.9% +6.8%
August 5, 2024 +3.0% −2.0% +1.3% +9.3%
May 6, 2024 +3.5% +1.1% +2.8% +7.4%
February 5, 2024 +4.0% −0.1% +5.6% +10.4%
October 30, 2023 +5.1% +1.8% +12.0% +17.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Simon Property Group
$5.5B $6B $6.5B $7B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $5.5B Revenue (TTM), FY23 Q4: $5.7B Revenue (TTM), FY24 Q1: $5.8B Revenue (TTM), FY24 Q2: $5.8B Revenue (TTM), FY24 Q3: $5.9B Revenue (TTM), FY24 Q4: $6B Revenue (TTM), FY25 Q1: $6B Revenue (TTM), FY25 Q2: $6B Revenue (TTM), FY25 Q3: $6.2B Revenue (TTM), FY25 Q4: $6.4B Revenue (TTM), FY26 Q1: $6.6B Revenue (TTM), FY26 Q2: $6.9B $6.9B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $5.5B
FY23 Q4 $5.7B
FY24 Q1 $5.8B
FY24 Q2 $5.8B
FY24 Q3 $5.9B
FY24 Q4 $6B
FY25 Q1 $6B
FY25 Q2 $6B
FY25 Q3 $6.2B
FY25 Q4 $6.4B
FY26 Q1 $6.6B
FY26 Q2 $6.9B
Revenue growth, TTM YoY Simon Property Group
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 6.0% Revenue growth, TTM YoY, FY23 Q4: 6.9% Revenue growth, TTM YoY, FY24 Q1: 7.6% Revenue growth, TTM YoY, FY24 Q2: 7.4% Revenue growth, TTM YoY, FY24 Q3: 6.8% Revenue growth, TTM YoY, FY24 Q4: 5.4% Revenue growth, TTM YoY, FY25 Q1: 4.2% Revenue growth, TTM YoY, FY25 Q2: 3.3% Revenue growth, TTM YoY, FY25 Q3: 4.2% Revenue growth, TTM YoY, FY25 Q4: 6.7% Revenue growth, TTM YoY, FY26 Q1: 10.9% Revenue growth, TTM YoY, FY26 Q2: 15.0% 15.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 6.0%
FY23 Q4 6.9%
FY24 Q1 7.6%
FY24 Q2 7.4%
FY24 Q3 6.8%
FY24 Q4 5.4%
FY25 Q1 4.2%
FY25 Q2 3.3%
FY25 Q3 4.2%
FY25 Q4 6.7%
FY26 Q1 10.9%
FY26 Q2 15.0%
Operating margin (TTM) Simon Property Group
46% 48% 50% 52% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 48.8% Operating margin (TTM), FY23 Q4: 49.6% Operating margin (TTM), FY24 Q1: 50.1% Operating margin (TTM), FY24 Q2: 51.0% Operating margin (TTM), FY24 Q3: 51.6% Operating margin (TTM), FY24 Q4: 51.9% Operating margin (TTM), FY25 Q1: 51.5% Operating margin (TTM), FY25 Q2: 51.0% Operating margin (TTM), FY25 Q3: 50.7% Operating margin (TTM), FY25 Q4: 49.9% Operating margin (TTM), FY26 Q1: 48.3% Operating margin (TTM), FY26 Q2: 47.4% 47.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 48.8%
FY23 Q4 49.6%
FY24 Q1 50.1%
FY24 Q2 51.0%
FY24 Q3 51.6%
FY24 Q4 51.9%
FY25 Q1 51.5%
FY25 Q2 51.0%
FY25 Q3 50.7%
FY25 Q4 49.9%
FY26 Q1 48.3%
FY26 Q2 47.4%
FCF margin (TTM) Simon Property Group
45% 50% 55% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 54.7% FCF margin (TTM), FY23 Q4: 55.4% FCF margin (TTM), FY24 Q1: 53.6% FCF margin (TTM), FY24 Q2: 52.3% FCF margin (TTM), FY24 Q3: 51.6% FCF margin (TTM), FY24 Q4: 51.3% FCF margin (TTM), FY25 Q1: 50.8% FCF margin (TTM), FY25 Q2: 52.1% FCF margin (TTM), FY25 Q3: 50.7% FCF margin (TTM), FY25 Q4: 50.3% FCF margin (TTM), FY26 Q1: 48.6% FCF margin (TTM), FY26 Q2: 46.4% 46.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 54.7%
FY23 Q4 55.4%
FY24 Q1 53.6%
FY24 Q2 52.3%
FY24 Q3 51.6%
FY24 Q4 51.3%
FY25 Q1 50.8%
FY25 Q2 52.1%
FY25 Q3 50.7%
FY25 Q4 50.3%
FY26 Q1 48.6%
FY26 Q2 46.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 3.8 4.0 4.3 4.3 4.5 4.9 5.3 5.4 5.5 5.6 5.8 4.6 5.1 5.3 5.7 6.0 6.4 6.9
EBITDA 2.4 2.7 3.0 3.1 3.3 3.5 3.8 4.0 4.1 4.2 4.3 3.3 3.7 3.8 4.1 4.4 4.6 5.0
Operating income 1.4 1.7 1.9 2.0 2.2 2.4 2.7 2.7 2.8 2.9 2.9 2.0 2.4 2.6 2.8 3.1 3.2 3.3
Net income 0.3 0.6 1.0 1.4 1.3 1.4 1.8 1.8 1.9 2.4 2.1 1.1 2.2 2.1 2.3 2.4 4.6 4.6
Diluted EPS $1.05 $1.98 $3.27 $4.72 $4.24 $4.52 $5.88 $5.87 $6.24 $7.87 $6.81 $3.59 $6.84 $6.52 $6.98 $7.26 $14.17 $14.19
Growth (year on year)
Revenue −0.2% +4.8% +8.8% −1.2% +6.8% +7.2% +8.1% +3.2% +1.7% +2.1% +1.9% −19.9% +11.1% +3.4% +6.9% +5.4% +6.7% +15.0%
EBITDA −4.3% +13.5% +10.2% +2.2% +7.2% +7.1% +9.0% +3.3% +2.6% +3.2% +1.1% −22.7% +11.7% +3.7% +6.8% +7.1% +5.6% +13.2%
Operating income −8.8% +24.2% +11.2% +3.2% +9.1% +9.0% +11.9% +1.9% +3.0% +4.4% −0.5% −32.3% +22.4% +7.1% +8.6% +10.2% +2.7% +7.0%
Net income −33.0% +115.6% +67.3% +40.1% −8.0% +6.8% +29.8% +0.6% +5.9% +25.3% −13.9% −47.1% +102.5% −4.9% +6.7% +3.8% +95.3% +118.6%
Diluted EPS −40.3% +88.1% +65.7% +44.2% −10.2% +6.6% +30.1% −0.2% +6.3% +26.1% −13.5% −47.3% +90.5% −4.7% +7.1% +4.0% +95.2% +119.2%
Margins
EBITDA margin 63.7% 69.0% 69.9% 72.2% 72.5% 72.5% 73.0% 73.1% 73.8% 74.6% 73.9% 71.4% 71.8% 72.0% 71.9% 73.1% 72.3% 71.6%
Operating margin 37.3% 44.1% 45.1% 47.1% 48.2% 49.0% 50.7% 50.1% 50.7% 51.8% 50.6% 42.8% 47.2% 48.8% 49.6% 51.9% 49.9% 47.4%
Net margin 7.5% 15.4% 23.7% 33.6% 29.0% 28.9% 34.6% 33.8% 35.2% 43.2% 36.5% 24.1% 43.9% 40.4% 40.3% 39.7% 72.7% 66.5%
Free-cash-flow margin — — — — — 39.7% 38.1% 47.4% 51.8% 52.6% 50.9% 40.0% 60.8% 58.9% 55.4% 51.3% 50.3% 46.4%
Cash flow
Cash from operations 1.7 1.8 2.0 2.5 2.7 2.7 3.0 3.4 3.6 3.8 3.8 2.3 3.6 3.8 3.9 3.8 4.1 4.1
Capital spending — — — — — 0.8 1.0 0.8 0.7 0.8 0.9 0.5 0.5 0.7 0.8 0.8 0.9 0.9
Free cash flow — — — — — 1.9 2.0 2.6 2.9 3.0 2.9 1.8 3.1 3.1 3.1 3.1 3.2 3.2
Balance sheet
Cash 4.0 0.8 0.8 1.2 1.7 0.6 0.7 0.6 1.5 0.5 0.7 1.0 0.5 0.6 1.2 1.4 0.8 1.0
Total debt 18.6 17.5 18.4 23.1 23.6 20.9 22.5 23.1 24.7 23.4 24.2 26.8 25.4 25.0 26.2 24.4 28.6 28.7
Net debt (negative = net cash) 14.7 16.7 17.6 21.9 21.9 20.2 21.8 22.5 23.2 22.9 23.6 25.8 24.9 24.4 25.0 23.0 27.8 27.7
Diluted shares 285m 310m 312m 303m 310m 311m 310m 313m 312m 310m 308m 309m 329m 328m 327m 326m 326m 325m
Returned to shareholders
Dividends 0.1 0.8 1.0 1.2 1.4 1.6 1.9 2.0 2.2 2.4 — — — — — — — —
Buybacks — — — — — — — 0.3 0.4 0.4 0.4 0.2 — 0.2 0.1 — 0.2 —
Total returned 0.1 0.8 1.0 1.2 1.4 1.6 1.9 2.3 2.6 2.8 0.4 0.2 — 0.2 0.1 — 0.2 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$548M
Diluted share count
−0.3%
year over year

Competitors: side by side with peers

Closest by revenue in retail reits
Last 12 months unless stated SPG O KIM REG BRX FRT Median
Revenue, last 12 months $6.9bn $6.2bn $2.2bn $1.6bn $1.4bn $1.4bn $516m
Revenue growth, last 12 months 15.0% 10.8% 3.5% 8.2% 5.7% 7.8% 8.5%
Revenue growth, 3-year average 8.5% 16.8% 7.4% 9.0% 4.8% 6.5% 8.2%
Revenue growth, latest quarter 19.5% 10.3% 1.9% 8.6% 5.5% 5.2% 7.1%
Operating margin 47.4% — 40.1% 72.0% — 47.7% 44.2%
Operating margin, 3-year average 49.8% — 35.7% — — 43.3% 35.7%
Net margin 66.5% 21.8% 34.1% 34.4% 30.0% 32.6% 26.8%
Cash from operations / revenue 59.4% 66.9% 56.3% 53.0% 48.4% 48.2% 48.6%
Free-cash-flow margin 46.4% 64.1% 56.3% 26.7% 18.5% 18.8% 20.3%
Free-cash-flow margin, 3-year average 50.2% 64.7% 38.8% 27.3% 17.8% 19.1% 20.1%
Stock pay / revenue — 0.6% 1.6% 1.2% 1.1% 1.1% 1.7%
Change in share count −0.3% 4.1% −0.6% 1.0% 0.2% 1.4% 2.6%

Median of all 24 companies we cover in retail reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

24 retail reits companies
Measure Company Peer median Rank
Revenue growth Growth 15.0% 8.7% 6 of 24
Change in growth rate Growth +4.1pp -0.3pp 3 of 24
Operating margin Profitability 47.4% 47.7% 9 of 16
Net margin Profitability 66.5% 29.8% 2 of 24
Long-term debt as % of assets Balance sheet 72.3% 46.6% 18 of 20
Change in share count Balance sheet -0.3% 4.1% 3 of 22

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$67.6B
Institutions reporting
1,354
Shares held vs prior quarter
▲ 3.3%
Positions opened / closed
147 / 90

Top buyers and sellers, Q2 2026: 662 institutions bought and 554 sold ; the biggest buyer was Vanguard Portfolio Management LLC (+4.8M shares) and the biggest seller Jpmorgan Chase & Co (−1.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $8.3B 37.3M 12.3% ▲ 1.2%
Vanguard Portfolio Management LLC $6.2B 27.9M 9.2% ▲ 20.7%
Vanguard Capital Management LLC $4.6B 20.6M 6.8% ▲ 0.3%
State Street Corp $4.6B 20.4M 6.7% ▼ 2.7%
Geode Capital Management, LLC $2.5B 11.3M 3.7% ▲ 4.7%
Capital World Investors $2.4B 10.5M 3.5% ▲ 16.3%
Wellington Management Group LLP $2.1B 9.4M 3.1% ▲ 2.7%
Bank Of America Corp $1.8B 8.2M 2.7% ▼ 3.0%
Cohen & Steers, Inc. $1.3B 5.9M 1.9% ▼ 0.2%
Morgan Stanley $1.2B 5.6M 1.8% ▲ 2.7%
FMR LLC $1.2B 5.6M 1.8% ▲ 10.5%
Northern Trust Corp $1.1B 5.1M 1.7% ▲ 1.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Simon Property Group's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $2M 61 trades by 11 insiders, last 12 months Insider sales History → $2M 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $12,247 net buying
Insider Date Trade Shares Price Value
Aeppel Glyn Director September 30, 2026 Buy 222 $202.78 $45,017
Cicco Martin J Director September 30, 2026 Buy 15 $202.78 $3,042
Glasscock Larry C Director September 30, 2026 Buy 367 $202.78 $74,420
Jones Nina P Director September 30, 2026 Buy 46 $202.78 $9,328
Leibowitz Reuben S Director September 30, 2026 Buy 480 $202.78 $97,334
Lewis Randall J Director September 30, 2026 Buy 65 $202.78 $13,181
Rodkin Gary M Director September 30, 2026 Buy 232 $202.78 $47,045
Selig Stefan M Director September 30, 2026 Buy 208 $202.78 $42,178
Smith Daniel C. Director September 30, 2026 Buy 350 $202.78 $70,973
Stewart Marta R Director September 30, 2026 Buy 199 $202.78 $40,353
Roe Peggy Director September 30, 2026 Buy 88 $202.78 $17,845
Aeppel Glyn Director June 30, 2026 Buy 44 $224.33 $9,871

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 61 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Simon Property Group shares.

  • Jonathan L. Jackson(D-IL 1):Purchase, $15,001 - $50,000, traded April 20, 2026, filed May 27, 2026
  • Val T. Hoyle(D-OR 4):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed October 10, 2025
  • Victoria Spartz(R-IN 5):Purchase, $1,001 - $15,000, traded April 3, 2025, filed April 26, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 11, 2026
  • February 2, 2026
  • November 3, 2025
  • August 4, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Simon Property Group was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Simon Property Group in brief

What does Simon Property Group do?
Simon Property Group is a US-listed company in the retail REITs industry. Its financial year ends in December.
What is Simon Property Group's stock ticker?
Simon Property Group trades under the ticker SPG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Simon Property Group's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Simon Property Group reported revenue of $6.9B, 15.0% higher than a year earlier, according to its SEC filings.
What is Simon Property Group's free cash flow?
Simon Property Group's free-cash-flow margin is 46.4% of revenue over the trailing twelve months.
Who are Simon Property Group's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Simon Property Group's market cap?
On November 2, 2026, Simon Property Group's market capitalisation was about $72.2B, with a price-to-earnings ratio of 15.6 and net debt of $27.7B. Market figures come from third-party market data and may be delayed.
Who are Simon Property Group's competitors?
In our Retail REITs peer group, the companies closest to Simon Property Group are Realty Income, Kimco Realty, Regency Centers, Brixmor Property Group Inc. and Federal Realty Investment Trust. The side-by-side comparison below sets their revenue, margins and growth against Simon Property Group's.
Are insiders buying or selling Simon Property Group stock?
Over the last 12 months, Simon Property Group's directors and officers reported 61 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Simon Property Group's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Simon Property Group announces its own schedule.