Simon Property Group, Inc. (SPG)

Sector: Real Estate|Industry: REIT - Retail|Market Cap: $64.40B|Employees: 3K


Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT) that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations, primarily consisting of malls, Premium Outlets, and The Mills. The company's core business model revolves around leasing retail space to tenants, and its primary revenue streams are derived from fixed minimum lease consideration and variable lease consideration based on tenants' sales. Simon is a market leader with a significant geographic presence in the United States and internationally.

  1. Filings

Filing Highlights

Financial Performance

Lease income increased to $1,339.8 million from $1,298.7 million year-over-year, while total revenue increased to $1,480.7 million from $1,410.9 million, indicating a slight improvement in the core business and other revenue streams.

Total operating expenses were $712.9 million in 2024 compared to $716.7 million in the prior year, showing a consistent cost structure despite revenue growth.

Consolidated net income decreased to $546.7 million from $680.8 million year-over-year, indicating a decline in profitability despite revenue growth, likely due to other factors such as interest expenses.

Growth & Strategy

Management Execution

Risk Factors

Competitive Position

Operational Efficiency

Innovation & Technology

Capital Allocation

ESG initiatives

Market Environment