Simon Property Group Inc.

Business description

Largest owner of premium regional malls and outlet centers in the U.S. and internationally. The portfolio consists of Class A mall assets, primarily targeting luxury and high-end retail.

Key financials

• Price: $215.66 (06/15/2026)
• 12-Mo Target: $220.00
• Market Cap: $69.94B
• Dividend Yield: 4.17%
• 2026E Revenue: $7,229.00M

Competitive moat

Dominant "best-of-breed" position in Class A retail real estate. High barriers to entry for premium mall developments. Strategic ability to reposition former anchor spaces into high-yield mixed-use developments (residential, retail, office).

Recent developments

• Strategic Consolidation: Acquired the remaining interest in The Taubman Realty Group (TRG) in Q4 2025, further consolidating its grip on the premium mall segment.
• Asset Transformation: Successfully pivoting toward open-air and mixed-use retail to mitigate the structural decline of enclosed malls.
• Financial Health: Maintaining strong liquidity ($8.7B at end of Q1 2026) and a healthy fixed charge coverage of 4.6x, though refinancing debt at higher base rates is a headwind.

Investment risks / red flags

• Structural Decline: Long-term risk of the enclosed mall format due to e-commerce growth and evolving consumer shopping habits.
• Macro Sensitivity: Vulnerable to rapid pullbacks in consumer spending, higher-than-anticipated interest rates, and import tariffs.

H-Score signals

• TBI multi factor score: 62

Theme exposure

• N/A

Related

• [[Financials]]