LIVE
SPG
Simon Property Group, Inc. · REITs
$211.33
+5.21% this month
VERSUS
⟷
COMPARE
PLD
Prologis, Inc. · REITs
$140.54
-1.33% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
SPG
3
PLD
2
Comparison scoreboard
SPG LEADS 3/5AI Score
SPG 39.0
PLD ✓46.9
1Y Return
SPG ✓+34.49%
PLD +33.73%
Fwd P/E
SPG ✓31.51
PLD 41.86
Target Up.
SPG +1.85%
PLD ✓+8.23%
Op. Margin
SPG ✓43.38%
PLD 38.49%
Metrics last refreshed: 6/22/2026
Quick take
SPG vs PLD Stock Comparison: AI Score, Valuation, Performance and Upside
SPG and PLD are the two largest US REITs in their respective property types — premium malls and industrial logistics. Prologis has benefited from the secular e-commerce tailwind and inflation-driven rent growth. Simon has navigated retail disruption by pivoting to luxury, experience, and food/beverage tenants while maintaining high occupancy. Both offer attractive dividend yields, but serve fundamentally different commercial real estate themes.
SPG vs PLD — Simon Property Group (the dominant US premium mall REIT pivoting toward luxury and experiential retail with high dividend yield) versus Prologis (the world's largest industrial REIT benefiting from e-commerce's secular shift to logistics space with embedded rent roll-up opportunities).
Live analysis · updated 6/22/2026
SPG holds the edge across 3 of 5 key metrics in this comparison. SPG leads on both 1-year return (+34.49%) and forward P/E (31.51x vs 41.86x for PLD), a relatively favorable combination of momentum and valuation. SPG leads on both revenue growth (19.30%) and operating margin (43.38%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for PLD (+8.23%) than for SPG (+1.85%).
Normalized 1Y performance
SPG
PLD
Recent returns
SPG
PLD
Analyst price targets & sentiment
SPG · 18 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.2/5.0)
Price target range
analyst low$120.00
analyst mean$215.25
current price$211.33
+1.9% upside to analyst mean
PLD · 20 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.1/5.0)
Price target range
analyst low$95.00
analyst mean$152.10
current price$140.54
+8.2% upside to analyst mean
Who should consider this stock?
SPG may suit investors who:
- →value the highest REIT dividend yields among large-caps — Simon's well-covered FFO supports an attractive income yield for dividend-focused REIT investors
- →believe premium Class A mall real estate is irreplaceable in dominant trade areas — luxury brands and experiential tenants want flagship locations Simon's malls provide
- →want retail REIT exposure at a valuation reflecting post-COVID skepticism that may be more conservative than fundamentals warrant for high-quality mall assets
- →are comfortable with e-commerce secular headwinds, department store anchor closures requiring expensive redevelopment, and ongoing retail sector evolution uncertainty
PLD may suit investors who:
- →want e-commerce and logistics infrastructure exposure through the world's largest industrial REIT with irreplaceable near-population-center logistics sites
- →see embedded rent roll-up as a structural NOI growth driver as below-market in-place rents expire and reset to current market rents — a multi-year earnings tailwind
- →prefer Prologis's global footprint across 19 countries providing logistics infrastructure diversification vs Simon's primarily North American mall concentration
- →are comfortable with industrial supply normalization post-COVID, interest rate sensitivity on long-duration logistics assets, and elevated valuation multiples for the highest-quality industrial REIT
Performance & AI score
| Metric | SPG | PLD |
|---|---|---|
| AI score | 39.0 | 46.9 |
| AI rank | #1209 | #644 |
| Latest close | $211.33 | $140.54 |
| 1M return | +5.21% | -1.33% |
| 6M return | +14.72% | +9.74% |
| 1Y return | +34.49% | +33.73% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | SPG | PLD |
|---|---|---|
| 1Y ago | $13.45K (+34.5%) started 2025-06-18 | $13.37K (+33.7%) started 2025-06-18 |
| 5Y ago | $25.45K (+154.5%) started 2021-06-21 | $14.15K (+41.5%) started 2021-06-21 |
| 10Y ago | $28.62K (+186.2%) started 2016-06-20 | $47.12K (+371.2%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | SPG | PLD |
|---|---|---|
| Market cap | $80.3B | $131.69B |
| Trailing P/E | 14.71 | 35.31 |
| Forward P/E | 31.51 | 41.86 |
| Price/Sales | 10.20 | 11.56 |
| EV/Revenue | 14.81 | 18.13 |
| Analyst target | $215.25 | $152.10 |
| Target upside | +1.85% | +8.23% |
Growth, profitability & risk
| Metric | SPG | PLD |
|---|---|---|
| Revenue growth | 19.30% | 8.30% |
| Earnings growth | 16.40% | 65.20% |
| EPS growth | +16.40% | +65.20% |
| FCF margin | +37.52% | +51.77% |
| Operating margin | 43.38% | 38.49% |
| Profit margin | 70.59% | 39.65% |
| ROIC proxy | 113.59% | 6.84% |
| Return on equity | 113.59% | 6.84% |
| Dividend yield | 4.16% | 3.05% |
| Beta | 1.35 | 1.33 |
| Debt/equity | 457.47 | 60.93 |
| Current ratio | 0.20 | 0.53 |
| Quick ratio | 0.20 | 0.32 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
SPG max drawdown12.55%
PLD max drawdown10.31%
SPG max wkly drop6.70%
PLD max wkly drop5.63%
5Y risk snapshot
SPG max drawdown45.84%
PLD max drawdown43.30%
SPG max wkly drop15.68%
PLD max wkly drop19.46%
10Y risk snapshot
SPG max drawdown77.00%
PLD max drawdown43.30%
SPG max wkly drop55.74%
PLD max wkly drop21.91%
Performance metrics by period
| Period | Metric | SPG | PLD |
|---|---|---|---|
| 1Y | Growth | +34.52% | +33.75% |
| CAGR | +34.58% | +33.80% | |
| Sharpe ratio | 1.44 | 1.24 | |
| Max drawdown | 12.55% | 10.31% | |
| Max daily drop | 3.55% | 3.55% | |
| Max wkly drop | 6.70% | 5.63% | |
| 5Y | Growth | +99.76% | +27.05% |
| CAGR | +14.87% | +4.91% | |
| Sharpe ratio | 0.49 | 0.15 | |
| Max drawdown | 45.84% | 43.30% | |
| Max daily drop | 10.11% | 9.57% | |
| Max wkly drop | 15.68% | 19.46% | |
| 10Y | Growth | +61.14% | +258.92% |
| CAGR | +4.89% | +13.64% | |
| Sharpe ratio | 0.19 | 0.44 | |
| Max drawdown | 77.00% | 43.30% | |
| Max daily drop | 26.71% | 17.27% | |
| Max wkly drop | 55.74% | 21.91% |
Business comparison
| Category | SPG | PLD |
|---|---|---|
| Company | Simon Property Group, Inc. | Prologis, Inc. |
| Sector | Real Estate | Real Estate |
| Industry | REIT - Retail | REIT - Industrial |
| Core business | Simon Property Group is the largest retail REIT in the US, owning 195+ premium shopping malls, Premium Outlets, and The Mills properties across North America, Europe, and Asia. Simon's portfolio focuses on high-quality Class A malls with luxury and premium tenants — Neiman Marcus, Apple, Lululemon, and high-end restaurant concepts. Simon has pivoted its tenant mix toward experience, food/beverage, and luxury to combat e-commerce disruption of commodity retail. Simon owns equity stakes in Authentic Brands Group (ABG) and other retail operating companies. Dividend yield is one of the highest among large-cap REITs. | Prologis is the world's largest industrial REIT with 1.2B+ square feet of logistics, distribution, and light manufacturing properties across 19 countries. Prologis's properties serve e-commerce fulfillment, third-party logistics (3PL) providers, retail distribution, and manufacturing. The company's properties are concentrated near major population centers, ports, and transportation hubs — enabling next-day and same-day delivery economics critical for e-commerce. Prologis's Essentials platform offers energy, sustainability, and logistics services as software margin expansion on its real estate base. |
| Investor focus | Investors focus on Simon's same-store NOI growth, occupancy rates, leasing spreads on lease renewals vs prior rents, luxury tenant demand, and dividend sustainability. | Investors track Prologis's same-store NOI growth, lease-up rates on new developments, rent roll-up on renewals vs in-place rents (significant embedded NOI growth), and logistics demand trends from e-commerce penetration. |
SPG strengths
- →Premium mall irreplaceability: Simon's Class A malls in dominant trade areas serve as community gathering and experience destinations — premium brands want flagship presence in Simon malls regardless of e-commerce
- →Luxury and experiential tenant pivot: Simon's focus on luxury retail, restaurants, entertainment, and fitness uses mall space e-commerce cannot replace — experience-based tenants drive foot traffic and dwell time
- →High dividend yield with coverage: Simon's dividend yield provides attractive income in a higher-rate environment and is well covered by FFO — positioned as a value-income REIT vs growth-oriented industrial peers
PLD strengths
- →E-commerce structural tailwind: every 1% increase in e-commerce penetration requires 1.25B sq ft of additional logistics space — Prologis is the primary beneficiary of the secular shift of commerce to online fulfillment
- →Location-scarce logistics infrastructure: near-population-center logistics sites near major cities and ports are supply-constrained — the infill locations Prologis owns cannot be replicated at scale
- →Embedded rent roll-up opportunity: Prologis's in-place rents have been significantly below market rents — as leases expire, rents roll up to market creating NOI growth even without occupancy changes
Risks to watch — SPG
- →Department store anchor dependency: Macy's, JCPenney, and Nordstrom anchor stores in Simon malls are closing locations — lost anchors reduce foot traffic and create large vacant boxes requiring expensive redevelopment
- →E-commerce secular headwind: online shopping continues to reduce commodity retail traffic to malls — Simon must continuously evolve tenant mix as e-commerce captures retail market share
- →Interest rate sensitivity: Simon's large debt load and dividend are sensitive to interest rate levels — higher rates increase refinancing costs and compress the dividend yield spread vs risk-free alternatives
Risks to watch — PLD
- →E-commerce growth deceleration post-COVID: the pandemic accelerated e-commerce adoption temporarily — post-COVID logistics demand has normalized, creating near-term industrial REIT supply/demand imbalance in some markets
- →Speculative industrial development supply: high 2021-2023 industrial rent growth attracted significant speculative development — new supply in some markets has pressured vacancy rates and rent growth
- →Interest rate impact on REIT valuations: Prologis's long-duration assets are sensitive to interest rate increases — 2022 rate hikes caused significant REIT multiple compression even with strong NOI fundamentals
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