REG 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 4.33%, REG has the higher dividend-safety score, and REG trades at the larger discount to fair value (-22%).
| Metric | REG | SPG |
|---|---|---|
| Forward yield | 4.14% | 4.33% |
| Annual dividend | $3.02 | $8.90 |
| Payout ratio | 100% | 62% |
| Years of growth | 12 yr | 5 yr |
| 5-yr dividend growth | 3.8% | 10.5% |
| 5-yr total return | 4% | 40% |
| Dividend safety score | 78 (B) | 63 (C) |
| Fair value estimate | $56.88 | $128.47 |
| Upside to fair value | -22% | -37% |
| Frequency | quarterly | quarterly |
| Market cap | $13.6B | $77.8B |
| P/E ratio | 24.6 | 14.5 |
Higher yield
SPG
4.33%
Safer dividend
REG
Grade B
Faster growth
SPG
10.5%
Better value
REG
-22% upside
REG vs SPG — FAQ
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