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Simon Property Group, Inc.

SPG

Real Estate · 204.71 +0.1% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Simon Property Group, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Company+0.1% todayVolume comparison unavailable
Market group0 of 13 activeRetail REITs · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • Acquisitions and development supplied a large share of the six-month lease-income increase, making portfolio activity a current revenue driver.
  • A non-cash tax expense tied to the Catalyst gain and Forever 21 deconsolidation affected reported earnings in the latest period.

Invalidation: The isolated read changes if SPG's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Real Estate · REIT - Retail

No new filing conclusion is available. 0 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Acquisitions and development supplied a large share of the six-month lease-income increase, making portfolio activity a current revenue driver.
  • A non-cash tax expense tied to the Catalyst gain and Forever 21 deconsolidation affected reported earnings in the latest period.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements92
Verified relationships10
Evidence supporting the case
  • Latest annual revenue changed +6.7% year over year.
Evidence challenging the case
  • Operating margin changed -2.0 percentage points in the latest annual period.
Questions before a position
  • EV/sales is 34% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

204.71
6m+8.0%12m+14.1%24m+24.7%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$5.1B+11.1%$6.84+6.4%
2022-12-31$5.3B+3.4%$6.52-0.2%
2023-12-31$5.7B+6.9%$6.98-0.3%
2024-12-31$6.0B+5.4%$7.26-0.2%
2025-12-31$6.4B+6.7%$14.17+0.1%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 2 filings
Interest expense increased $48.4 million, of which $38.5 million related to our acquisition activity, and due to increases related to USD note and commercial paper issuances of $32.8 million, partially offset by a USD bond payoff of $16.2 million and the redu…
10-Q · Aug 10, 2026
Restructuring and cost reductionsnegative · 2 filings
48 Table of Contents During 2026, we recorded a $64.3 million gain related to the exchange of 4,074,711 shares of Klépierre to settle the conversion of €110.3 million of the Operating Partnership’s exchangeable bonds, partially offset by a non-cash other-than…
10-Q · Aug 10, 2026
Macroeconomic conditionspositive · 1 filings
Property operating expenses increased $65.6 million, due to inflationary cost increases and $48.9 million related to our acquisition activity.
10-Q · Aug 10, 2026
Supply chain and availabilitymixed · 1 filings
Notes to Consolidated Financial Statements (Dollars in thousands, except share, per share, unit and per unit amounts and where indicated as in millions or billions) Net income attributable to noncontrolling interests (which includes nonredeemable and redeemab…
10-K · Feb 25, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 10.5× · EV/sales 14.8×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

204.71+0.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for SPG. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for SPG. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind SPG

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

MIAXMiami International Holdings, Inc.investeeNov 6, 2025

We own 100% of this center.

MIAXMiami International Holdings, Inc.partnerFeb 25, 2026

We own 100% of this center.

Depended on by

DBGIDigital Brands Group, Inc.distributorApr 15, 2026

In April of 2024, we entered into a retail store sublease for approximately 3.5 years at the Simon Premium Outlet in Allen, TX, a suburb of Dallas.

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

SPG is currently a Follower in the organic co-movement group Retail REITs. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.