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 September 30, 2024, we owned or had an interest in 231 properties comprising 184 million square feet in North America, Asia and Europe. We also owned an 84% 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 September 30, 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.
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 |
Financial Resilience | Explore SPG's robust financial health, including its impressive 4.67% dividend yield and 82.62% gross profit margin, despite challenges in FFO growth |
Strategic Maneuvers | Delve into SPG's selective acquisition strategy and recent $1.45 billion divestment, showcasing its focus on core operations and portfolio optimization |
Market Outlook | Analyst price targets range from $159 to $195, reflecting mixed views on SPG's growth potential amid retail sector transformations and economic uncertainties |
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 | 23.2x | 11.7x | 7.6x | |
PEG Ratio | 2.04 | 0.04 | 0.01 | |
Price/Book | 21.3x | 1.0x | 0.9x | |
Price / LTM Sales | 9.6x | 5.8x | 3.8x | |
Upside (Analyst Target) | 6.2% | 17.3% | 19.7% | |
Fair Value Upside | Unlock | −4.3% | 2.0% | Unlock |