Digital Realty Trust vs Simon Property Group (DLR vs SPG)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Simon Property Group is the larger company by revenue ($6.4B vs $6.1B) and market value ($83.4B vs $67.9B). Digital Realty Trust has grown revenue faster over the last 4 fiscal years (+38.1% cumulative vs +24.4%). Simon Property Group runs the higher operating margin (49.9% vs 10.8%). Simon Property Group trades at the lower trailing P/E (15.3x vs 47.9x).
About Digital Realty Trust
Digital Realty Trust, Inc. is a global provider of data center, colocation, and interconnection solutions. The company owns, acquires, develops, and operates data centers across multiple continents, serving enterprises and service providers of various sizes. Its services support digital infrastructure needs, enabling customers to deploy critical IT infrastructure with global coverage and connectivity.
About Simon Property Group
Simon Property Group Inc. operates as a real estate investment trust specializing in retail real estate. The company owns and manages shopping malls, premium outlet centers, and other retail properties across the United States. It serves retailers and consumers by providing commercial spaces for retail businesses.
Head to head (DLR FY2025 vs SPG FY2025)
| Metric | DLRFY2025 | SPGFY2025 |
|---|---|---|
| Revenue | $6.11B | $6.36B |
| Revenue growth (YoY) | 10.0% | 6.7% |
| Gross margin | — | — |
| Operating margin | 10.8% | 49.9% |
| Net margin | 21.4% | 84.3% |
| Net income | $1.31B | $5.36B |
| Diluted EPS | $3.58 | $14.17 |
| FCF margin | — | 50.3% |
| ROE | — | 82.9% |
| Debt / equity | — | 4.4× |
| Market cap | $67.88B | $83.40B |
| P/E (TTM) | 47.9× | 15.3× |
Fundamentals are from each company’s SEC filings (DLR FY2025, SPG FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DLR | $4.43B | $4.69B | $5.48B | $5.55B | $6.11B |
| SPG | $5.12B | $5.29B | $5.66B | $5.96B | $6.36B |
Peer standing
Where each company ranks among the 165 REITs, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | DLR | SPG |
|---|---|---|
| Operating margin | 10.8%25th percentile of 81 | 49.9%78th percentile of 81 |
| Net margin | 21.4%68th percentile of 156 | 84.3%99th percentile of 156 |
| Revenue growth (YoY) | +10.0%78th percentile of 161 | +6.7%66th percentile of 161 |
| P/E (TTM) | 47.9×79th percentile of 108 | 15.3×13th percentile of 108 |
| Short interest (days to cover) | 1.95d22nd percentile of 154 | 3.14d46th percentile of 154 |
Short interest
| FINRA settlement data | DLR | SPG |
|---|---|---|
| Shares sold short | 8.1M | 10.8M |
| Change vs prior settlement | -0.3% | +17.0% |
| Days to cover | 1.95 | 3.14 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | DLR | SPG |
|---|---|---|
| Buys | — | 28 ($533,052) |
| Sells | — | 0 |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
7 tracked 13F managers hold both Digital Realty Trust and Simon Property Group as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.