Prologis, Inc. vs SIMON PROPERTY GROUP, INC., two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Prologis owns the warehouses that fill online orders; Simon owns the malls that online orders emptied, a neat contrast in how e-commerce reshaped retail real estate. Simon trades at the sector's lowest multiple, 15.8 times earnings, its mature malls priced cautiously; Prologis at 35.2 carries a logistics-growth premium, though both P/Es distort through depreciation. Simon runs heavy 4.65-turn leverage against Prologis's light 0.6, and trades at 12 times book against 2.31. Simon yields the bigger dividend, 3.77% against 2.89%, and more free cash, 4.38% against 3.84%. The market's read is written in the multiples: it treats Prologis as the growth side of the supply chain and Simon as the value side of a challenged format, even as Simon's premium malls keep paying out.
Comparison updated 2026-07-11.
| Metric | PLD | SPG |
|---|---|---|
| Price | $139.85 | $226.89 |
| Market cap | $133.9B | $73.7B |
| Sector | REIT | REIT |
| Stage | Mature | Mature |
| P/E | 35.2 | 15.8 |
| P/B | 2.31 | 12.14 |
| P/S | 14.97 | 11.09 |
| EV/EBITDA | 22.7 | 21.3 |
| Revenue growth | +6.8% | +10.9% |
| Operating margin | 52.7% | 43.4% |
| Net margin | 42.5% | 82.0% |
| Return on equity | 6.6% | 89.8% |
| Return on assets | 3.9% | 13.8% |
| Return on invested capital | 4.8% | 7.4% |
| FCF yield | 3.8% | 4.4% |
| Dividend yield | 2.9% | 3.8% |
| Debt / equity | 0.60 | 4.65 |
| Altman Z (solvency) | 2.12 | 1.39 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.