Simon Property Group (SPG)
Owner and operator of malls, Premium Outlets, The Mills and mixed-use retail destinations.
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Owns and manages U.S.-focused malls, Premium Outlets, The Mills and mixed-use retail destinations, earning mainly lease income from retailers. A REIT structure ties capital allocation to required income distributions, while traffic and tenant health shape property economics.
Owns, develops and manages malls, Premium Outlets, The Mills, lifestyle centers and mixed-use retail destinations, with the portfolio concentrated in the United States and additional properties across Asia, Europe and Canada. Long-term tenant leases generate fixed rent, sales-based rent and operating-cost recoveries; leasing, redevelopment and mixed-use additions are the core property-management levers. Stakes in Klépierre and platform investments including Catalyst Brands, Rue Gilt Groupe and Jamestown extend the portfolio beyond consolidated real estate.
Operates as a REIT through a majority-owned partnership, with required income distributions making debt-market access important for acquisitions and redevelopment. Results depend on retailer creditworthiness, store traffic and demand for physical retail space. The core mall and outlet portfolio relies on anchor tenants to attract shoppers, although no single tenant contributes a material share of consolidated revenue.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Evercore ISI | Target | Target: $219 | Target: $216 |
| Sep 17, 2026 | Scotiabank | Reiterate | Rating: —Target: $222 | Target: $221 |
| Sep 14, 2026 | Evercore ISI | Target | Target: $215 | Target: $219 |
| Aug 27, 2026 | Mizuho Securities | Target | Target: $192 | Target: $226 |
| Aug 20, 2026 | Scotiabank | Reiterate | Rating: —Target: $206 | Target: $222 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.02B · Total debt $29.43B · Total assets $39.71B · Shareholders' equity $4.43B
- Revenue
- $1.79B
- Operating income
- $824.1M
- Net income
- $484.0M
HistoryDividendAnnual yield
| Institutions | ≥ 95.02% | 307.45M shares | |
|---|---|---|---|
| 1,417 holders · as of Jun 30, 2026 | |||
| Strategic holders | 9.43% | 30.51M shares | |
| 2 holders · as of Jan 3, 2024 | |||
| Adds to | 104.45% | ||
323.56M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Institutional filings for SPGJ, SPGJ (100% of the company) are not on file here, so the institutional figure is a floor.
These groups come from separate filings that can overlap, so they add to 104.45%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.52% | 37.27M J | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.62% | 27.88M J | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.38% | 20.63M J | as of Jun 30, 2026 |
State Street CorpInstitution | 6.29% | 20.36M J | as of Jun 30, 2026 |
Norges Bank (The Central Bank of Norway)Strategic | 5.56% | 17.99M | filed Jan 3, 2024 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 30, 2026 | Glyn Aeppel | director | +243 | $223.36 |
| Jun 30, 2026 | Nina P. Jones | director | +43 | $223.16 |
| Jun 30, 2026 | Randall J. Lewis | director | +62 | $223.16 |
| Jun 30, 2026 | Gary M. Rodkin | director | +256 | $223.34 |
| Jun 30, 2026 | Daniel C. Smith | director | +372 | $223.31 |
- Macerich
Pure-play Class A US mall REIT; the most direct enclosed-mall rival.
- Brookfield
Controls the US's second-largest mall portfolio (formerly GGP) via BPY.
- Tanger
Pure-play outlet REIT contesting Simon Premium Outlets for the same tenants.
- Federal Realty
Premium mixed-use REIT contesting luxury lifestyle tenants in coastal markets.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Simon Property Group | $205.10 | +0.06% | $66.47B | 14.5 | 30.3 | 9.6 | +10.8% |
| Macerich | $22.82 | +1.06% | $6.72B | — | 1,496.7 | 6.7 | −0.0% |
| Brookfield | $38.10 | +0.30% | $84.83B | 68.1 | 12.0 | 1.1 | +9.3% |
| Tanger | $35.56 | −0.28% | $4.10B | 32.4 | 31.7 | 6.7 | +11.1% |
| Federal Realty | $110.82 | +0.17% | $9.56B | 22.0 | 35.1 | 7.2 | +7.7% |
| Median | 32.4 | 33.4 | 6.7 | +8.5% |