ARE 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. ARE offers the higher yield at 5.40%, ARE has the higher dividend-safety score, and ARE trades at the larger discount to fair value (-21%).
| Metric | ARE | SPG |
|---|---|---|
| Forward yield | 5.40% | 4.33% |
| Annual dividend | $2.88 | $8.90 |
| Payout ratio | 689% | 62% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 2.0% | 10.5% |
| 5-yr total return | -74% | 40% |
| Dividend safety score | 72 (B) | 63 (C) |
| Fair value estimate | $42.02 | $128.47 |
| Upside to fair value | -21% | -37% |
| Frequency | quarterly | quarterly |
| Market cap | $9.3B | $77.8B |
| P/E ratio | — | 14.5 |
Higher yield
ARE
5.40%
Safer dividend
ARE
Grade B
Faster growth
SPG
10.5%
Better value
ARE
-21% upside
ARE vs SPG — FAQ
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