PLD vs SPG: Which Is the Better Dividend Stock?
As of September 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. SPG offers the higher yield at 4.35%, PLD has the higher dividend-safety score, and SPG trades at the larger discount to fair value (-29%).
| Metric | PLD | SPG |
|---|---|---|
| Forward yield | 3.15% | 4.35% |
| Annual dividend | $4.28 | $8.90 |
| Payout ratio | 93% | 62% |
| Years of growth | 12 yr | 5 yr |
| 5-yr dividend growth | 11.7% | 10.5% |
| 5-yr total return | 8% | 58% |
| Dividend safety score | 77 (B) | 63 (C) |
| Fair value estimate | $66.27 | $146.37 |
| Upside to fair value | -51% | -29% |
| Frequency | quarterly | quarterly |
| Market cap | $132.0B | $77.8B |
| P/E ratio | 30.2 | 14.5 |
Higher yield
SPG
4.35%
Safer dividend
PLD
Grade B
Faster growth
PLD
11.7%
Better value
SPG
-29% upside
PLD vs SPG — FAQ
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