REITWAVE.COM Institutional Equity Tear Sheet Generator
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REITWAVE.COM | INSTITUTIONAL REAL ESTATE RESEARCH
AS OF: OCTOBER 24, 2026  |  10Y TREASURY: 4.99%  |  SIC 6798

Simon Property Group ($SPG)

Sector: Malls & Outlets  •  Exchange / CIK: NYSE / 0001063761  •  Properties: 230 Assets
Trading at a 7.0% discount to NAV
Safety Score: 84/100 (Safe)  |  Credit: A- / A3

Live Share Price

$211.63
52W Range: $172.19 - $238.50

Valuation Multiples

17.0x P/AFFO
P/FFO: 16.5x  |  FFO/sh: $12.80

Net Asset Value (NAV)

$228.00
Prem/Disc: -7.0%  |  Cap: 6.45%

Dividend Cash Flow

3.97% Yield
$8.40/yr (Quarterly)  |  Payout: 67.5%
Balance Sheet & Debt Maturity Sentry
Net Debt to EBITDAre stands at 5.1x. Portfolio leased occupancy is 95.8% with a weighted average lease term (WALT) of 5.9 years. Senior credit rating of A- / A3 provides institutional capital markets access for debt refinancing.
Recent Dividend Payment History (Last 6 Declarations)
Ex-Dividend Date Record / Pay Date Cash Distribution Status / Corporate Action
2026-09-30 2026-10-15 $2.1000 Regular Distribution
Representative Commercial Asset Concentrations (From SEC Form 10-K Item 2)
Commercial Asset / Property Name Location Rentable Sq Ft Occupancy Implied Asset Valuation
The Houston Galleria & Financial Towers Houston, TX 3,000,000 sq ft 98.1% SEC Sched III
King of Prussia Super-Regional Mall King of Prussia, PA 2,793,000 sq ft 95.8% SEC Sched III
The Galleria Luxury Center Houston, TX 2,400,000 sq ft 94.2% SEC Sched III
Sawgrass Mills Destination Complex Sunrise, FL 2,370,000 sq ft 96.1% SEC Sched III
Woodbury Common Premium Outlets Central Valley, NY 912,000 sq ft 98.4% SEC Sched III
Quantitative Risk & Benchmark Performance (QuantStats • VNQ)
Empirical 252-day trading window compared to Vanguard Real Estate ETF (VNQ) benchmark
METHODOLOGY: QUANTSTATS / CAPM
Beta vs VNQ
1.01
Index Tracking (Market Neutral)
Annualized Alpha (α)
+18.79%
Outperforming VNQ
Sharpe Ratio (vs VNQ)
1.0 vs 0.04
+0.96 Spread
Max Drawdown (1-Yr)
-15.6% vs -11.4%
-4.2% vs VNQ
SPG vs VNQ QuantStats Performance & Underwater Drawdown
Quantitative Risk & Return Metric SPG VNQ (Benchmark) Institutional Delta / Spread
Beta (β) vs VNQ
Covariance sensitivity to US REIT market
 1.01 1.00 +0.01 (Index Tracking (Market Neutral))
Annualized Alpha (α)
Excess CAPM risk-adjusted performance
 +18.79% 0.00% (Baseline) Outperforming VNQ
Sharpe Ratio (Rf = 4.5%)
Annualized excess return per unit of volatility
 1.0 0.04 +0.96
Sortino Ratio
Downside semi-variance risk-adjusted return
 1.08 0.03 +1.05
Annualized Volatility (σ)
Standard deviation of daily price returns × √252
 19.3% 13.9% +5.4% (Higher Volatility)
Maximum Drawdown (1-Year)
Peak-to-trough capital decline over trailing 12M
 -15.6% -11.4% -4.2% vs VNQ
1-Year Trailing Return (CAGR)
Compounded annual growth rate
 24.6% 4.1% +20.5% Spread
R-Squared (R²) & Correlation
Statistical correlation coefficient against VNQ
 R² 0.53 Corr: 0.73 53% variance explained by VNQ
Trading Session Win Rate
Percentage of positive daily closing sessions
 51.2% 51.6% -0.4% vs Benchmark
QuantStats Analytical Synthesis: SPG displays a Beta of 1.01 relative to VNQ with 0.53 R² correlation. Annualized volatility is 19.3% (5.4% higher than VNQ at 13.9%). Trailing 12-month Alpha stands at +18.79% (Outperforming VNQ) with a Sharpe ratio of 1.00 against 0.04 for VNQ, and a maximum drawdown of -15.6%.
SEC CIK: 0001063761  |  Principal Executive Officer: David Simon  |  Total PEO Compensation: $11,663,678 (94:1)
Official SEC Accession: 0001063761-26-000015
CONFIDENTIAL INSTITUTIONAL TEAR SHEET • REITWAVE.COM (v1.0.0) • Data Sources: SEC EDGAR Form 10-K / DEF 14A, PR Newswire, Bloomberg/CBRE Comps. For institutional and accredited investor due diligence. Not a solicitation or investment recommendation.