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Simon Property Group, Inc. — Intrinsic Value & Fair Price

SPG
NYSEReal EstateREIT - RetailCIK 0001063761simon.comAbout SPG
Last close · Oct 16, 2026205.44+2.05 (+1.01%)
Market cap$66.5B
Model value · P/Cash FFO · own history
187.49
Simon Property Group closed at $205.44 — overvalued by 10% vs model.
147.22the model's range201.06

P/Cash FFO · own history leads for a REIT. From its own five-year median price to Cash FFO.

Other models
21.25 – 372.90
Wall St. target
218.50 6% below
Above model, 1y
17 of 20 days

Price and model value

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What the marks mean
Daily close

Valuation models

price $205.44 · as of Oct 17, 2026
P/Cash FFO · own historyused147.22 – 201.06187.4910% overvaluedP/E · peers202.77 – 651.28372.9045% undervaluedP/E · own history168.27 – 237.94202.421% overvaluedPEG—53.30285% overvaluedEV/EBITDA · peers69.52 – 146.53143.5243% overvaluedEV/Revenue · peers17.78 – 33.9121.25867% overvaluedDividend discount102.64 – 217.49143.1344% overvaluedWall St. consensus target—218.506% belowCost of capital (WACC)—8.32%—

P/Cash FFO · own history leads for a REIT. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
4.33%
#47 · Highest dividend yield
Past 2 years
low 3.72%high 5.88%
Dividends per share, a year at a time
$5.50Sep ’21$6.75Sep ’22$7.35Sep ’23$7.90Sep ’24$8.45Sep ’25$8.90TTM
Coverage
—
Raised
5 years in a row
Growth, 5 yrs
10.1% a year
Last change
+2.3% · Jun 2026
Every payment, with ex-dates · latest $2.25, paid Sep 30, 2026

Research on SPG

No posts on SPG yet.
Studied SPG from its filings? Guest posts are reviewed before they go live.Write about SPG →

How it is valued

Valued asREIT
Low/slowing growth (~6% recent)High profitability (84% net margin)Highly cyclical earningsHigh leverage (D/E 5.5x)
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for REITs
Price / Cash FFO
—
Dividend yield, TTM
4.33%
Dividends / Cash FFO
—
Debt / assets
71.9%
Price / book
10.0×
Revenue growth
6.7%
On the lists: #47 Highest dividend yield · #29 Insider buying
Full financials

Superinvestors

13F · Q2 2026
All 1 holders

Analyst actions

third-party, quoted
10-12Piper Sandler · target254.00
10-09BNP Paribas · target222.00
10-09UBS · target205.00
07-01Wolfe Research · “Peer Perform” from “Outperform”downgrade
Ratings, targets and estimates

Recent

filings, insider trades and key news
58 filings · 40 insider transactions

Comparable companies

by business, not by industry label
KIMKimco RealtyFRTFederal Realty Investment TrustREGRegency CentersORealty IncomeVICIVici Properties
2 more companies list SPG as a comparable
BXPBXPHSTHost Hotels & Resorts

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just SPG. No account.

About Simon Property Group

Simon Property Group (NYSE: SPG) is a prominent S&P 100 real estate investment trust that specializes in owning and developing a portfolio of world-class shopping, dining, entertainment, and mixed-use destinations. These significant properties, strategically located across North America, Europe, and Asia, serve as vital community hubs, attracting millions of visitors daily and contributing billions in annual revenue.

CEO
Eli Simon
Headquarters
Indianapolis, IN
Employees
3,350
IPO
1993-12-14
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.