
Simon Property Group exhibits strong fundamentals, with investment-grade credit ratings and stable earnings, but its common stock trades at a significant premium. The current AFFO yield is 5.2%, and the price-to-book ratio has risen to 15.2, indicating a high market premium versus historical levels. SPG's preferred stock and OTC bonds offer low yields relative to risk, with preferreds yielding just 0.33% to call and bonds at a 0.85% spread to Treasuries.










