Realty Income vs Simon Property Group

Not investment advice. This section describes what companies disclose in their filings. It does not recommend buying, selling or holding any security or fund. Past performance does not predict future results. Read the offering documents and consider talking to a licensed financial adviser before investing.

Last verified: 2026-10-20

Both own retail-heavy real estate but take on very different risk. Realty Income’s tenants pay most costs; Simon runs the malls.

Realty Income

Unscored

Wins when: you want steady monthly dividends from net leases.

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Simon Property Group

Unscored

Wins when: you want exposure to top malls and outlets and accept operating risk.

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Side by side

Item	Realty Income	Simon Property Group
Scale	15,500+ properties	188.4M sq ft GLA; 108 malls, 70 outlets
2025 revenue	$5,749.4M	$6,364.5M
2025 net income	$1,058.6M	$4,624.3M (attributable to common)
Operating model	Net lease: tenants pay most expenses	Owner-operator of centers

Figures are from each company’s 2025 annual filing (Dec 31, 2025 unless noted) or, where marked, its own site. Read 2026-10-20. Neither is scored.

Last verified 2026-10-20. Figures were re-read from the linked sources that day.

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2026-10-20 Comparison published.

Sources

Realty Income Form 10-K for 2025 · accessed 2026-10-20
Simon Property Group Form 10-K for 2025 · accessed 2026-10-20