FCPT vs SPG: Which Is the Better Dividend Stock?
As of August 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. FCPT offers the higher yield at 5.81%, SPG has the higher dividend-safety score, and FCPT trades at the larger discount to fair value (-7%).
| Metric | FCPT | SPG |
|---|---|---|
| Forward yield | 5.81% | 4.08% |
| Annual dividend | $1.47 | $8.90 |
| Payout ratio | 132% | 62% |
| Years of growth | 9 yr | 5 yr |
| 5-yr dividend growth | 3.1% | 10.5% |
| 5-yr total return | -6% | 68% |
| Dividend safety score | 47 (D) | 61 (C) |
| Fair value estimate | $23.58 | $151.83 |
| Upside to fair value | -7% | -30% |
| Frequency | quarterly | quarterly |
| Market cap | $2.8B | $82.9B |
| P/E ratio | 22.9 | 15.4 |
Higher yield
FCPT
5.81%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
FCPT
-7% upside
FCPT vs SPG — FAQ
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