SKT vs. SPG

Last updated Jun 3, 2026

SKT (Tanger Factory Outlet Centers, Inc.) and SPG (Simon Property Group, Inc.) are both stocks. Both operate in the REIT - Retail industry within the Real Estate sector. Over the past 10 years, SKT returned 5.66%/yr vs 5.39%/yr for SPG. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

SKT vs. SPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tanger Factory Outlet Centers, Inc. (SKT) and Simon Property Group, Inc. (SPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKT achieves a 9.66% return, which is significantly lower than SPG's 11.22% return. Both investments have delivered pretty close results over the past 10 years, with SKT having a 5.66% annualized return and SPG not far behind at 5.39%.

SKT

• 1D: 1.52%
• 1M: -1.07%
• YTD: 9.66%
• 6M: 11.29%
• 1Y: 25.91%
• 3Y*: 24.27%
• 5Y*: 19.81%
• 10Y*: 5.66%

SPG

• 1D: 0.41%
• 1M: 0.54%
• YTD: 11.22%
• 6M: 14.40%
• 1Y: 31.15%
• 3Y*: 30.83%
• 5Y*: 14.65%
• 10Y*: 5.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SKT vs. SPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKT Tanger Factory Outlet Centers, Inc.	9.66%	1.39%	27.71%	62.06%	2.68%	101.59%	-27.28%	-21.33%	-18.99%	-22.30%
SPG Simon Property Group, Inc.	11.22%	12.94%	26.92%	29.24%	-21.91%	95.72%	-38.64%	-6.74%	2.55%	0.98%

Correlation

The correlation between SKT and SPG is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Dec 15, 1993	0.58

The correlation between SKT and SPG shifts across timeframes, from 0.58 (all time) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS SKT : $1.44 SPG : $17.14
PE Ratio SKT : 24.92 SPG : 11.87
PEG Ratio SKT : 0.11 SPG : 0.47
PS Ratio SKT : 5.17 SPG : 7.50
Total Revenue (TTM) SKT : $596.62M SPG : $6.65B
Gross Profit (TTM) SKT : $334.96M SPG : $5.71B
EBITDA (TTM) SKT : $387.37M SPG : $7.77B

Return for Risk

SKT vs. SPG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SKT

SKT Risk / Return Rank: 75
SKT Sharpe Ratio Rank: 76
SKT Sortino Ratio Rank: 74
SKT Omega Ratio Rank: 68
SKT Calmar Ratio Rank: 78
SKT Martin Ratio Rank: 78

SPG

SPG Risk / Return Rank: 82
SPG Sharpe Ratio Rank: 84
SPG Sortino Ratio Rank: 82
SPG Omega Ratio Rank: 79
SPG Calmar Ratio Rank: 80
SPG Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SKT vs. SPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tanger Factory Outlet Centers, Inc. (SKT) and Simon Property Group, Inc. (SPG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SKT	SPG	Difference
Sharpe ratio Return per unit of total volatility	1.24	1.71	-0.48
Sortino ratio Return per unit of downside risk	1.96	2.50	-0.54
Omega ratio Gain probability vs. loss probability	1.22	1.30	-0.08
Calmar ratio Return relative to maximum drawdown	2.43	2.69	-0.26
Martin ratio Return relative to average drawdown	6.16	9.70	-3.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKT vs. SPG - Sharpe Ratio Comparison

The current SKT Sharpe Ratio is 1.24, which is comparable to the SPG Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of SKT and SPG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SKT	SPG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.71	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.56	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	0.15	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.38	-0.02

Drawdowns

SKT vs. SPG - Drawdown Comparison

The maximum SKT drawdown since its inception was -87.32%, which is greater than SPG's maximum drawdown of -77.00%. Use the drawdown chart below to compare losses from any high point for SKT and SPG.

Drawdown Indicators

	SKT	SPG	Difference
Max Drawdown Largest peak-to-trough decline	-87.32%	-77.00%	-10.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-11.54%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	-20.96%	-24.32%	+3.36%
Max Drawdown (5Y) Largest decline over 5 years	-31.16%	-45.84%	+14.68%
Max Drawdown (10Y) Largest decline over 10 years	-87.32%	-77.00%	-10.32%
Current Drawdown Current decline from peak	-3.62%	-1.94%	-1.68%
Average Drawdown Average peak-to-trough decline	-16.33%	-13.85%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	3.20%	+0.88%

Volatility

SKT vs. SPG - Volatility Comparison

Tanger Factory Outlet Centers, Inc. (SKT) has a higher volatility of 5.93% compared to Simon Property Group, Inc. (SPG) at 5.48%. This indicates that SKT's price experiences larger fluctuations and is considered to be riskier than SPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKT	SPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	5.48%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	13.63%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	21.03%	18.25%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.28%	26.50%	+4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.32%	37.07%	+5.25%

Dividends

SKT vs. SPG - Dividend Comparison

SKT's dividend yield for the trailing twelve months is around 3.31%, less than SPG's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SKT Tanger Factory Outlet Centers, Inc.	3.31%	3.45%	3.18%	3.50%	8.93%	3.71%	7.15%	9.61%	6.89%	5.10%	3.52%	3.99%
SPG Simon Property Group, Inc.	4.25%	4.62%	4.70%	5.22%	5.87%	3.66%	7.04%	5.57%	4.70%	4.16%	3.66%	3.11%

Financials

SKT vs. SPG - Profitability Comparison

The chart below illustrates the profitability comparison between Tanger Factory Outlet Centers, Inc. and Simon Property Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SKT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tanger Factory Outlet Centers, Inc. reported a gross profit of 103.68M and revenue of 150.42M. Therefore, the gross margin over that period was 68.9%.

SPG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a gross profit of 1.45B and revenue of 1.76B. Therefore, the gross margin over that period was 82.5%.

SKT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tanger Factory Outlet Centers, Inc. reported an operating income of 83.60M and revenue of 150.42M, resulting in an operating margin of 55.6%.

SPG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported an operating income of 762.16M and revenue of 1.76B, resulting in an operating margin of 43.4%.

SKT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tanger Factory Outlet Centers, Inc. reported a net income of 28.26M and revenue of 150.42M, resulting in a net margin of 18.8%.

SPG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a net income of 1.48K and revenue of 1.76B, resulting in a net margin of 0.0%.

Frequently Asked Questions

Can I hold both SKT and SPG in my portfolio?

SKT and SPG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKT or SPG?

SKT has higher volatility (5.93%) compared to SPG (5.48%). In terms of maximum drawdown, SKT dropped -87.32% vs SPG's -77.00%.

Which has better risk-adjusted returns?

SPG currently has the higher Sharpe Ratio (1.71 vs 1.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.