Is SPG or TRNO cheaper?

On trailing earnings, SPG is cheaper: SPG trades at a 15.26 P/E and TRNO at 16.49.

Which has grown faster, SPG or TRNO?

Over the past five years, TRNO grew revenue faster — SPG at a 8.15% CAGR versus TRNO at 20.57%.

Does SPG or TRNO pay a bigger dividend?

SPG yields 4.02% and TRNO yields 3.05% based on trailing dividends and the latest price.

Is SPG or TRNO more profitable?

TRNO runs the higher net margin — SPG at 70.40% versus TRNO at 86.52%.

Which has been the better investment, SPG or TRNO?

Over the past 10-year, TRNO delivered the higher annualized total return — SPG at 6.24% versus TRNO at 13.47%. Past performance doesn't predict future results.

Simon Property Group, Inc. (SPG) vs Terreno Realty Corporation (TRNO)

SPG leads on 11 of 16 compared metrics.

A side-by-side comparison of Simon Property Group, Inc. and Terreno Realty Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 13, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

SPG

Simon Property Group, Inc.

$71.03B

$219.04Real Estate

TRNO

Terreno Realty Corporation

$7.15B

$67.27Real Estate

Total return — SPG vs TRNO

growth of $100 · last 16y

SPG +231.5%TRNO +260.7%TRNO compounded faster

SPG TRNO

SPG vs TRNO: by the numbers

•SPG is the larger company ($71.03B vs $7.15B market cap).
•SPG trades at the lower earnings multiple (15.26 vs 16.49 P/E).
•TRNO converts more revenue to profit (86.52% vs 70.40% net margin).
•TRNO grew revenue faster over the past five years (20.57% vs 8.15% CAGR).
•SPG pays the higher dividend yield (4.02% vs 3.05%).

Which is better, SPG or TRNO?

Metric tally: SPG 11 · TRNO 5

It depends on what you're optimizing for:

ValueSPG(lower P/E)

GrowthTRNO(faster 5Y revenue CAGR)

IncomeSPG(higher dividend yield)

QualitySPG(higher ROIC)

Valuation

Metric	SPG	TRNO
P/E ratio	15.26●	16.49
Forward P/E	31.77●	40.04
P/S ratio	10.68●	14.43
P/B ratio	14.61	1.65●
PEG ratio	0.14	0.14
EV / EBITDA	12.90●	13.82
FCF yield	4.60%●	2.87%

Profitability

Metric	SPG	TRNO
Gross margin	85.24%●	63.89%
Operating margin	48.28%●	40.81%
Net margin	70.40%	86.52%●
ROE	96.34%●	9.88%
ROIC	8.55%●	3.66%

Dividends

Metric	SPG	TRNO
Dividend yield	4.02%●	3.05%
Payout ratio	62.23%	52.16%

Growth (annualized)

Metric	SPG	TRNO
Revenue CAGR (5Y)	8.15%	20.57%●
EPS CAGR (5Y)	31.55%	35.52%●
FCF CAGR (5Y)	9.48%	22.41%●
Total return CAGR (5Y)	16.57%●	3.07%

Frequently asked

Which is better, SPG or TRNO?: It depends on your goal. value: SPG (lower P/E); growth: TRNO (faster 5Y revenue CAGR); income: SPG (higher dividend yield); quality: SPG (higher ROIC). Across all compared metrics, SPG leads 11 to 5.
Is SPG or TRNO cheaper?: On trailing earnings, SPG is cheaper: SPG trades at a 15.26 P/E and TRNO at 16.49.
Which has grown faster, SPG or TRNO?: Over the past five years, TRNO grew revenue faster — SPG at a 8.15% CAGR versus TRNO at 20.57%.
Does SPG or TRNO pay a bigger dividend?: SPG yields 4.02% and TRNO yields 3.05% based on trailing dividends and the latest price.
Is SPG or TRNO more profitable?: TRNO runs the higher net margin — SPG at 70.40% versus TRNO at 86.52%.
Which has been the better investment, SPG or TRNO?: Over the past 10-year, TRNO delivered the higher annualized total return — SPG at 6.24% versus TRNO at 13.47%. Past performance doesn't predict future results.

Go deeper

Full SPG analysis Full TRNO analysis Interactive comparison tool

Dig into the metrics

Simon Property P/E ratio Terreno Realty P/E ratio Simon Property dividend yield Terreno Realty dividend yield Simon Property ROE Terreno Realty ROE Simon Property operating margin Terreno Realty operating margin Simon Property revenue growth Terreno Realty revenue growth Simon Property free cash flow Terreno Realty free cash flow

Simon Property & Terreno Realty appear in these rankings

Highest Dividend Yield Stocks Fastest Revenue Growth Stocks Highest ROE Stocks Highest Operating Margin Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 13, 2026.