Simon Property Group Inc. · REIT (real estate trust)

SPG

Low riskNext report: In 6 days (est.)

View price ↗

The short version

A high-quality, profitable business with growing sales. Insiders and institutions are both adding.

Going well

Sales up 20% in the latest quarter vs a year ago
Raised its dividend (4.0% yield)
Profitable every year for 10 years

Watch out for

High debt: 6.47x equity

Money moves

11 insiders bought $461K of shares with their own money in the last 30 days
Institutions added 3.3% to their holdings in the quarter ending June 2026 (665 bought, 550 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$212.71+0.5% that day

Latest insider buy: A director bought at $202.78 on Sep 30. The stock is now $212.71, +4.9% since.

Company value: $80.8B; Share price times all shares
Price vs profit (P/E): 15.0x; You pay about $15 for each $1 of yearly profit
Price vs sales: 11.6x; Company value is 11.6 times a year of sales
Dividend yield: 4.0%; Yearly dividend as a share of today's price
Cash vs value: 1%; Cash as a share of company value
Debt vs value: 35%; Debt as a share of company value

From SPG's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.8B+19% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $6.9B, up 15% from the 12 months before. Over 5 years, sales grew about 6.7% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of SPG. Starting points are the company's recent numbers.

Sales growth+15% a yearRecently: +15% a yearProfit margin50%Last 12 months: 77.6%P/E at the end15xToday: 15.0x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$14.0B

Profit in 5 years$7.0B

Price these guesses point to$275.69+30% vs $212.71 todayAbout +5.3% a year, before dividends

What today's price needs: with a 50% margin and a 15x P/E, sales would have to grow about 9.2% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/6Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.131.6%
MissDebt under half of equityNot relying on borrowed money.5.46x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.84.3%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$4.1B
PassShare count not growingNot diluting owners. Falling means buybacks.-0.4% in 3 years

Revenue: $6.4B; +6.7% vs prior year
5-year growth: +6.7%/yr; revenue, per year
Total debt: $28.4B; 5.46x equity
Free cash flow: $4.1B; 65.0% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 10

Revenue: $1.8B; +19.5% YoY
EPS: $1.49; vs $1.70
Op. margin: 46.0%; -3.7 pts
Free cash flow: $958.7M
Share count: -0.8%; vs a year ago

Insider rating

Last 90 days

84Strong buying

11 insiders bought $461K
Cluster buy: 11 insiders within 1 day

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.5
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+3.3%

Institutions added 3.3% to their holdings. 665 bought, 550 sold.

Shares held by institutions302.6M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-0.1%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

6.5x · $28.7B debt

Shares outstandingLatest reported

Why low risk

High debt: 6.47x equity

Earnings reports

Last 12

Next reportIn 6 days (est.)Estimated from the same quarter last year

Results filedAug 10
Results filedMay 11
Results filedFeb 2
Results filedNov 3, 2025
Results filedAug 4, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Jul 31 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

Bought$461K11 insiders

Sold$00 insiders

Cluster buy11 buyers$461K on the same day

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Martin J CiccoDirector	Buy	15	$202.78	$3K	1K	Sep 30Filing ↗
+1.1% of their holdings Filed 1 day after
Nina P JonesDirector	Buy	46	$202.78	$9K	4K	Sep 30Filing ↗
+1.1% of their holdings Filed 1 day after
Peggy RoeDirector	Buy	88	$202.78	$18K	8K	Sep 30Filing ↗
+1.1% of their holdings Filed 1 day after
Stefan M SeligDirector	Buy	208	$202.78	$42K	34K	Sep 30Filing ↗
+0.6% of their holdings Filed 1 day after
Daniel C. SmithDirector	Buy	350	$202.78	$71K	35K	Sep 30Filing ↗
+1% of their holdings Filed 1 day after
Glyn AeppelDirector	Buy	222	$202.78	$45K	21K	Sep 30Filing ↗
+1.1% of their holdings Filed 1 day after
Marta R StewartDirector	Buy	199	$202.78	$40K	18K	Sep 30Filing ↗
+1.1% of their holdings Filed 1 day after
Reuben S LeibowitzDirector	Buy	480	$202.78	$97K	56K	Sep 30Filing ↗
+0.9% of their holdings Filed 1 day after
Gary M RodkinDirector	Buy	232	$202.78	$47K	21K	Sep 30Filing ↗
+1.1% of their holdings Filed 1 day after
Larry C GlasscockDirector	Buy	367	$202.78	$74K	46K	Sep 30Filing ↗
+0.8% of their holdings Filed 1 day after
Randall J LewisDirector	Buy	65	$202.78	$13K	7K	Sep 30Filing ↗
+0.9% of their holdings Filed 1 day after