NLCP vs SPG: Which Is the Better Dividend Stock?
As of July 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. NLCP offers the higher yield at 11.22%, SPG has the higher dividend-safety score, and NLCP trades at the larger discount to fair value (+59%).
| Metric | NLCP | SPG |
|---|---|---|
| Forward yield | 11.22% | 3.85% |
| Annual dividend | $1.72 | $8.80 |
| Payout ratio | 138% | 60% |
| Years of growth | 4 yr | 5 yr |
| 5-yr dividend growth | — | 10.5% |
| 5-yr total return | -49% | 70% |
| Dividend safety score | 60 (C) | 61 (C) |
| Fair value estimate | $24.30 | $150.64 |
| Upside to fair value | +59% | -34% |
| Frequency | quarterly | quarterly |
| Market cap | $324.6M | $86.7B |
| P/E ratio | 12.4 | 15.9 |
Higher yield
NLCP
11.22%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
NLCP
+59% upside
NLCP vs SPG — FAQ
Related comparisons
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.