DLR vs SPG: Which Is the Better Dividend Stock?
As of August 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 7 of 8 head-to-head metrics. SPG offers the higher yield at 4.04%, DLR has the higher dividend-safety score, and SPG trades at the larger discount to fair value (-32%).
| Metric | DLR | SPG |
|---|---|---|
| Forward yield | 2.48% | 4.04% |
| Annual dividend | $4.88 | $8.90 |
| Payout ratio | 618% | 62% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 1.7% | 10.5% |
| 5-yr total return | 18% | 66% |
| Dividend safety score | 85 (A) | 61 (C) |
| Fair value estimate | $105.96 | $150.74 |
| Upside to fair value | -45% | -32% |
| Frequency | quarterly | quarterly |
| Market cap | $74.4B | $84.1B |
| P/E ratio | 250.1 | 15.6 |
Higher yield
SPG
4.04%
Safer dividend
DLR
Grade A
Faster growth
SPG
10.5%
Better value
SPG
-32% upside
DLR vs SPG — FAQ
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