Simon Property (SPG) Property Operating Expenses (2009 - 2026)
Simon Property's Property Operating Expenses was $180.83 million in Q3 2026, up 20.7% from $149.81 million a year earlier and up 5.5% from the prior quarter.
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Analysis
Simon Property (SPG) Property Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Simon Property's Property Operating Expenses was $677.56 million through Sep 30, 2026, up 21.5% year-over-year; for FY2025, it came in at $580.98 million, up 9.7% from FY2024.
- Property Operating Expenses has now increased for five consecutive years, with a five-year compound annual growth rate of 10.7% (FY2020 to FY2025).
- In earlier years, Property Operating Expenses was $529.75 million in FY2024 (+8.3%), $489.35 million in FY2023 (+5.4%), $464.14 million in FY2022 (+11.6%) and $415.72 million in FY2021 (+19.1%).
- The Q3 2026 figure marks the highest quarterly Property Operating Expenses in data going back to Q1 2009.
- Compared with a year earlier, Property Operating Expenses has increased for 11 straight quarters, with growth averaging 14.2% over the last eight quarters.
- The best year-over-year quarter for Property Operating Expenses over five years was Q4 2021 (growth of 52.4%); the worst was Q4 2023 (a decline of 3.5%).
- Per Business Quant data, SPG's Property Operating Expenses in the three quarters before Q3 2026 was $171.44 million (Q2 2026), $170.76 million (Q1 2026) and $154.53 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Property Expenses (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 179.36 Bn | 166.43 Bn | 1.47 Bn | 2.25 Bn |
| 2 | Prologis | 122.34 Bn | 120.73 Bn | - | 511.72 Mn |
| 3 | Simon Property | 79.95 Bn | 78.05 Bn | - | 180.83 Mn |
| 4 | Public Storage | 62.14 Bn | 61.58 Bn | 112.08 Mn | 333.19 Mn |
| 5 | Realty Income | 55.95 Bn | 57.33 Bn | - | 122.39 Mn |
| 6 | Ventas | 47.02 Bn | 46.18 Bn | -3.39 Bn | 1.10 Bn |
| 7 | Ryman Hospitality Properties | 46.62 Bn | 45.46 Bn | 266.41 Mn | 158.13 Mn |
| 8 | Vivmark Residential | 37.34 Bn | 37.09 Bn | - | 245.28 Mn |
| 9 | Extra Space Storage | 33.12 Bn | 32.90 Bn | 650.96 Mn | 238.84 Mn |
| 10 | Vici Properties | 27.54 Bn | 26.32 Bn | 1.06 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 180.83 Mn |
| Jun 30, 2026 | 171.44 Mn |
| Mar 31, 2026 | 170.76 Mn |
| Dec 31, 2025 | 154.53 Mn |
| Sep 30, 2025 | 149.81 Mn |
| Jun 30, 2025 | 139.82 Mn |
| Mar 31, 2025 | 136.82 Mn |
| Dec 31, 2024 | 131.23 Mn |
| Sep 30, 2024 | 141.11 Mn |
| Jun 30, 2024 | 131.29 Mn |
| Mar 31, 2024 | 126.11 Mn |
| Dec 31, 2023 | 122.79 Mn |
| Sep 30, 2023 | 136.54 Mn |
| Jun 30, 2023 | 118.26 Mn |
| Mar 31, 2023 | 111.75 Mn |
| Dec 31, 2022 | 127.21 Mn |
| Sep 30, 2022 | 120.86 Mn |
| Jun 30, 2022 | 112.41 Mn |
| Mar 31, 2022 | 103.66 Mn |
| Dec 31, 2021 | 124.47 Mn |
API Access
Simon Property Property Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=property-operating-expenses&ticker=SPG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "property-operating-expenses", "ticker": "SPG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=property-operating-expenses&ticker=SPG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();