NLOP vs SPG: Which Is the Better Dividend Stock?
As of September 2026, NLOP (Net Lease Office Properties) screens as the stronger dividend stock, winning 2 of 3 head-to-head metrics. SPG offers the higher yield at 4.23%, SPG has the higher dividend-safety score.
| Metric | NLOP | SPG |
|---|---|---|
| Forward yield | — | 4.23% |
| Annual dividend | $19.25 | $8.90 |
| Payout ratio | 0% | 62% |
| Years of growth | 1 yr | 5 yr |
| 5-yr dividend growth | — | 10.5% |
| 5-yr total return | — | 65% |
| Dividend safety score | — | 61 (C) |
| Fair value estimate | — | $151.60 |
| Upside to fair value | — | -29% |
| Frequency | quarterly | quarterly |
| Market cap | $164.9M | $80.3B |
| P/E ratio | — | 14.8 |
Higher yield
SPG
4.23%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
NLOP vs SPG — FAQ
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