Realty Income (O) vs Simon Property Group (SPG)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Simon Property Group (SPG) has outperformed Realty Income (O) over the past year, gaining 10.4% versus a loss of 10.5%. Over five years, SPG leads with a +40.9% price change compared with -21.0% for O. Simon Property Group is the larger company by market cap ($75.78 billion vs $51.26 billion), about 1.5 times the size, while Realty Income is growing revenue faster (+9.1% vs +6.7%).
On valuation, Simon Property Group trades at a lower forward P/E (29.5x vs 34.9x for Realty Income). Realty Income offers the higher dividend yield (5.97% vs 4.41%). Simon Property Group converts more of its revenue into profit, with a net margin of 84.3% versus 18.4%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | O | SPG |
|---|---|---|
| Share price | $54.17 | $199.61 |
| Market cap | $51.26B | $75.78B |
| 1-day change | +1.54% | +1.02% |
| YTD return | -5.36% | +6.74% |
| 1-year return | -10.53% | +10.43% |
| 5-year return | -20.96% | +40.91% |
| P/E ratio (TTM) | 39.25 | 14.09 |
| Forward P/E | 34.88 | 29.47 |
| EPS (TTM) | $1.38 | $14.17 |
| Dividend yield | 5.97% | 4.41% |
| Annual dividend | $3.24 | $8.80 |
| Revenue (latest FY) | $5.75B | $6.36B |
| Revenue growth (YoY) | +9.07% | +6.72% |
| Net income (latest FY) | $1.06B | $5.36B |
| Operating margin | — | 49.89% |
| Net margin | 18.41% | 84.28% |
| 52-week high | $67.94 | $238.50 |
| 52-week low | $53.15 | $172.19 |
| Distance from 52-week high | -20.27% | -16.31% |
| Analyst consensus | hold | buy |
| Avg. price target upside | +22.56% | +16.98% |
| Average volume | 6.48M | 1.32M |
| Shares outstanding | 946.22M | 323.55M |
| Employees | 544 | 3,100 |
| Sector | Real Estate | Real Estate |
| Industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- SPG has outperformed O by 21.0 percentage points over the past year.
- Realty Income trades at a higher earnings multiple (39.3x vs 14.1x trailing P/E).
- Realty Income offers a meaningfully higher dividend yield (5.97% vs 4.41%).
- Simon Property Group is more profitable, keeping 84.3 cents of every revenue dollar as net income versus 18.4 cents for Realty Income.
About Realty Income
O stock →Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. Founded in 1969, we serve our clients as a full-service real estate capital provider.
Real Estate · Real Estate Investment Trusts · 544 employees
About Simon Property Group
SPG stock →Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT).
Real Estate · Real Estate Investment Trusts · 3,100 employees
O vs SPG FAQ
Which is bigger, Realty Income or Simon Property Group?
Simon Property Group (SPG) is larger, with a market capitalization of $75.78B compared with $51.26B for Realty Income (O).
Which stock has performed better over the past year, O or SPG?
SPG returned +10.43% over the past 12 months, compared with -10.53% for O (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, O or SPG?
SPG has the lower trailing P/E at 14.1, versus 39.3 for O. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Realty Income or Simon Property Group?
Realty Income has the higher yield at 5.97%, compared with 4.41% for Simon Property Group.
Are Realty Income and Simon Property Group in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.