Filing Flows › Comparisons › SPG vs BSTT
Simon Property Group vs Blackstone Real Estate Income Trust: SPG and BSTT compared
Simon Property Group is the larger company: $1.8B of revenue in its latest quarter (Q3 2026) against $1.8B for Blackstone Real Estate Income Trust (Q3 2026). Simon Property Group is growing faster (+13% against -8% a year earlier). Blackstone Real Estate Income Trust is more profitable, with an operating margin of 81.8% against 44.3%.
Where the money goes: SPG and BSTT
Simon Property Group (SPG) · Q3 2026
Simon Property Group, Q3 2026: revenue $1.8B (+13% year over year), operating margin 44.3%, net earnings $499M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
Blackstone Real Estate Income Trust (BSTT) · Q3 2026
Blackstone Real Estate Income Trust, Q3 2026: revenue $1.8B (-8% year over year), operating margin 81.8%, net loss $296M, operating cash flow $553M. The chart follows the revenue to costs, profit and cash.
| Simon Property Group (SPG) | Blackstone Real Estate Income Trust (BSTT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.8B | $1.8B |
| Revenue growth, Y/Y | +13% | -8% |
| Operating margin | 44.3% | 81.8% |
| Net earnings | $499M | −$296M |
| Net margin | 27.5% | -16.5% |
| Operating cash flow | $1.1B | $553M |
| Free cash flow | $822M | $216M |
| Market value | $74.1B | — |
| P/E | 13.8× | — |
| Analysts’ mean target | $228.90 | — |
Where the revenue comes from
Blackstone Real Estate Income Trust
- Rental Housing Property: $1.1B (61%)
- Industrial: $305M (17%)
- Net Lease: $152M (8%)
- Hospitality: $133M (7%)
Questions
Which is bigger, Simon Property Group or Blackstone Real Estate Income Trust?
Simon Property Group is the larger company: $1.8B of revenue in its latest quarter (Q3 2026) against $1.8B for Blackstone Real Estate Income Trust (Q3 2026).
Is Simon Property Group or Blackstone Real Estate Income Trust growing faster?
Simon Property Group is growing faster (+13% against -8% a year earlier).
Which is more profitable, Simon Property Group or Blackstone Real Estate Income Trust?
Blackstone Real Estate Income Trust is more profitable, with an operating margin of 81.8% against 44.3%.
More: Simon Property Group earnings · how Simon Property Group makes money · Blackstone Real Estate Income Trust earnings · how Blackstone Real Estate Income Trust makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.