SPG
SIMON PROPERTY GROUP INC /DE/Evidence as of 2026-09-03Overview · SIMON PROPERTY GROUP INC /DE/
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
Management team
- Mr. Steven E. Fivel J.D. · General Counsel & SecretaryFind on LinkedIn
- Mr. John Rulli · Chief Administrative OfficerFind on LinkedIn
- Mr. Adam J. Reuille · Senior VP & Chief Accounting OfficerFind on LinkedIn
- Mr. Eli M. Simon · Executive VP, Chief Investment Officer & DirectorFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The desk rates the evidence balance as Constructive (+0.5 of a possible +2; confidence high). Simon Property Group reported sequential quarterly revenues rising from $ 1,473,012,000 in Q1 2025 to $ 1,791,462,000 in FY 2025, then recorded $ 1,757,093,000 in Q1 2026 and $ 1,790,598,000 in Q2 2026. Three‑month operating income expanded through FY 2025 (from $ 727,616,000 in Q1 2025 to $ 890,669,000 in FY 2025), dipped to $ 762,163,000 in Q1 2026 and partially recovered to $ 824,098,000 in Q2 2026.
Balance‑sheet and market metrics show mixed signals: diluted shares declined to 324,018,022 in Q2 2026, long‑term debt rose to $ 28,699,607,000 as of 2026‑06‑30, and cash and cash equivalents moved from $ 1,552,577,000 (30 September 2025) to $ 823,147,000 (31 December 2025), $ 542,955,000 (31 March 2026) and $ 1,019,091,000 (30 June 2026), demonstrating notable quarter‑to‑quarter cash volatility. Market and valuation data include a TTM dividend yield of +4.19%, price 5.8% below the 50‑day and 5.6% above the 200‑day moving average (golden_cross true on 2026‑09‑02), P/E (ttm) 14.82, price/FCF 27.3, FCF (ttm) $ 2,494,739,000, and an implied FCF growth requirement of 16.73% under the model’s discount and terminal assumptions.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Simon Property Group reported quarterly revenues of $1,473,012,000 for the quarter ended 31 March 2025, $1,498,459,000 for the quarter ended 30 June 2025, $1,601,572,000 for the quarter ended 30 September 2025, $1,791,462,000 for the quarter ended 31 December 2025, $1,757,093,000 for the quarter ended 31 March 2026, and $1,790,598,000 for the quarter ended 30 June 2026 (compare quarter-to-quarter figures).
XBRL companyfacts · 0001104659-26-019419Operating income (three-month periods) moved from $727,616,000 for the quarter ended 31 March 2025 to $744,197,000 for the quarter ended 30 June 2025, $812,914,000 for the quarter ended 30 September 2025, $890,669,000 for the quarter ended 31 December 2025, then was $762,163,000 for the quarter ended 31 March 2026 and $824,098,000 for the quarter ended 30 June 2026, showing overall expansion through FY2025 with a dip in the quarter ended 31 March 2026 and partial recovery in the quarter ended 30 June 2026.
XBRL companyfacts · 0001104659-26-019419Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
A Form 4 with the 4 filed 1 September 2026 was filed on 2026-09-01 and its parse_status is recorded as pending in the evidence.
4 filed 2026-09-01A Form 4 with the 4 filed 1 September 2026 was filed on 2026-09-01 and its parse_status is recorded as pending in the evidence.
4 filed 2026-09-01Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Dividend yield (TTM) is +4.19%, ranked in the 91th percentile of the 547-stock research universe on 2026-09-02.
Moneyta signal set · 2026-09-02Short-term momentum shows mixed readings: momentum_3m is +4.4% and momentum_6m is +5.8%, while momentum_12_1 (12-month minus 1-month) is +47.2% and ranks in the 80th percentile of 547 on 2026-09-02.
Moneyta signal set · 2026-09-02weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02, SPG is a holding in the iShares Core S&P 500 ETF (IVV) at a weight of 0.11% of that fund.
ETF constituents · market dataFour Form 4 insider filing records for SPG have been filed with the reported filed_date of 2026-09-01 (accessions the 4 filed 1 September 2026, the 4 filed 1 September 2026, the 4 filed 1 September 2026, the 4 filed 1 September 2026) and are marked with parse_status = pending in the evidence.
Form 4 × 5 (90d window not enforced here)Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple articles report that Simon Property Group launched a commerce/media network (Simon Media Network) across its retail destinations to use shopper and location data for targeted advertising campaigns.
News · kalkinemedia.com · 2026-09-02Separate coverage emphasizes that the new media business represents an additional revenue stream tied to shopper data and closed-loop campaign measurement.
News · simplywall.st · 2026-09-01Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
On 2026-08-31, Simon Eli (CEO/PRESIDENT/COO) reported acquisition of 5,821 shares valued at "$1.2M" with action code F and no trading plan disclosed.
Form 4 · Simon Eli (CEO/PRESIDENT/COO) · $1.2M code F · 2026-08-31On 2026-08-31, Sokolov Richard S (Director) reported acquisition of 2,306 shares valued at "$495k" with action code F and no trading plan disclosed.
Form 4 · SOKOLOV RICHARD S (Director) · $495k code F · 2026-08-31Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model reports an implied free cash flow (FCF) growth rate of 16.73% that today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closePrice-to-FCF (price / FCF ttm) is 27.3.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Quarterly revenues and operating income expanded through FY2025 with a partial recovery into mid‑2026 while diluted share count declined, which historically can boost per‑share metrics and reported profitability. Company disclosures and multiple news items show new strategic revenue initiatives (Simon Media Network) plus raised guidance, record leasing, firm occupancy and rising rents across premium assets — operational signals that align with the revenue and operating income expansion. Market signals include a high dividend yield (in the 91st percentile), positive medium‑term momentum, a golden cross with price above the 200‑day average, and low equity market sensitivity, while several insider purchases were reported on 2026‑08‑31, together representing internally and externally observable signs of confidence. Although valuation and balance‑sheet items raise legitimate questions, the trailing twelve‑month P/E of 14.82 and FCF ttm of ~$2.49B provide evidence of substantial cash generation that contextualizes debt levels and valuation metrics under standard credit and valuation frameworks.
Chair's verdict, claim by claim
Fragility · computed, not argued
diversified0.25
34 surviving claims rest on 21 distinct sources; the heaviest analyst carries 18% of them, and 98% of what the desk raised survived the debate.
The evidence set is moderately broad but not deeply diversified: 34 surviving claims draw on 21 distinct sources, so many conclusions rest on a limited pool of documents and a single analyst contributes a noticeable share of interpretations. The desk’s very high survival rate (98%) after debate suggests internal consensus but also raises fragility—there may have been limited critical challenge, so treat the read as useful but sensitive to a small number of source updates or reinterpretations.
Peer context · computed, not argued
12-1 momentum ranks 1st of 5 in REIT—Retail (as of 2026-09-02).
90-day volatility ranks 1st of 5 in REIT—Retail (as of 2026-09-02).
dividend yield ranks 3rd of 5 in REIT—Retail (as of 2026-09-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
12 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.4 to the score
5 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.5 to the score
2 holdings records
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.3 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
4 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot+1.5 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on SPG Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.