Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc., the Operating Partnership, and its subsidiaries. We own, develop and manage premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, The Mills, and International Properties. At December 31, 2024, we owned or had an interest in 229 properties comprising 183 million square feet in North America, Asia and Europe. We also owned an 88% interest in The Taubman Realty Group, or TRG, which owns 22 regional, super-regional, and outlet malls in the U.S. and Asia. Additionally, at December 31, 2024, we had a 22.4% ownership interest in Klepierre, a publicly traded, Paris-based real estate company, which owns shopping centers in 14 European countries.
Strategic Horizons | Analyst price targets range from $159 to $195, reflecting SPG's potential for acquisitions, redevelopment opportunities, and challenges in finding accretive growth avenues |
Market Dynamics | Delve into SPG's ability to maintain healthy lease volumes and attractive spreads, driven by retailers' omni-channel strategies and demand for prime locations |
Financial Resilience | Explore SPG's robust financial health, impressive profit margins, and strong dividend yield, balanced against concerns over future FFO growth and debt refinancing |
Portfolio Powerhouse | Simon Property Group's diverse, high-quality retail portfolio spans North America, Europe, and Asia, positioning it as a leader in the evolving retail landscape |
Metrics to compare | SPG | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipSPGPeersSector | |
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P/E Ratio | 26.3x | 12.0x | 8.5x | |
PEG Ratio | −1.32 | 0.03 | 0.01 | |
Price / Book | 24.3x | 1.1x | 0.9x | |
Price / LTM Sales | 10.4x | 5.7x | 3.7x | |
Upside (Analyst Target) | 12.0% | 18.0% | 15.9% | |
Fair Value Upside | Unlock | −13.1% | 2.4% | Unlock |