With a market cap of $65.3 billion, Simon Property Group, Inc. (SPG) is a self-managed REIT that owns, develops, and operates large-scale shopping, dining, entertainment, and mixed-use destinations across North America, Asia, and Europe. Through its operating partnership and strategic stakes in companies like Taubman Realty Group and Klépierre, it manages a vast portfolio of retail properties totaling over 183 million square feet globally.
Shares of the Indiana-based company have slightly underperformed the broader market over the past 52 weeks. SPG stock has increased 22.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 23.3%. However, shares of the company are up 8.5% on a YTD basis, slightly outpacing SPX’s 7.4% gain.
Zooming in further, shares of Simon Property Group have exceeded the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 5.2% return over the past 52 weeks.
Shares of Simon Property Group rose 2.3% following its Q1 2026 results on May 11, with net income increasing to $479.6 million ($1.48 per share) from $413.7 million ($1.27 per share) a year earlier, while Real Estate FFO climbed 7.5% year-over-year to $1.21 billion, or $3.17 per share. Investors were also encouraged by solid operating metrics, including a 6.7% rise in domestic and portfolio NOI, occupancy improving to 96%, base minimum rent per square foot increasing 5.2% to $61.99, and retailer sales per square foot surging 11.8% to $819.
The stock additionally benefited from management raising its full-year 2026 Real Estate FFO guidance to $13.10 per share - $13.25 per share.
For the fiscal year ending in December 2026, analysts expect SPG’s Real Estate FFO to rise 3.7% year-over-year to $13.20 per share. The company’s earnings surprise history is promising. It beat the consensus estimates in the last four quarters.
Among the 21 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings and 12 “Holds.”
On May 15, Marie Ferguson of Argus Research reiterated a “Buy" rating on Simon Property Group and maintained a price target of $210.
The mean price target of $213.10 represents a 6.1% premium to SPG’s current price levels. The Street-high price target of $250 suggests a 24.5% potential upside.
