DLR vs SPG: Which Is the Better Dividend Stock?
As of Nov 14, 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 3.94%, DLR has the higher dividend-safety score, and SPG looks like the better value (its fair-value estimate is 27% below its share price).
Key facts: DLR vs SPG
Data as of · Source: SmarterDividends data
- As of Nov 14, 2026, Simon Property Group, Inc. (SPG) has the higher forward dividend yield at 3.94%, versus 2.66% for Digital Realty Trust, Inc. (DLR).
- As of Nov 14, 2026, SmarterDividends grades DLR's dividend safety A (85/100) and SPG's C (63/100).
- By SmarterDividends' count as of Nov 14, 2026, DLR has raised its dividend for 0 consecutive years and SPG for 5.
- As of Nov 14, 2026, DLR pays out 206% of its earnings as dividends and SPG pays out 64%.
- As of Nov 14, 2026, DLR's fair-value estimate is 65% below its share price and SPG's fair-value estimate is 27% below its share price, so SPG looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "DLR vs SPG: Dividend Yield, Safety & Value Compared," updated Nov 14, 2026, https://smarterdividends.com/compare/dlr-vs-spg
| Metric | DLR | SPG |
|---|---|---|
| Forward yield | 2.66% | 3.94% |
| Annual dividend | $4.88 | $9.20 |
| Payout ratio | 206% | 64% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 1.7% | 10.5% |
| 5-yr total return | 7% | 52% |
| Dividend safety score | 85 (A) | 63 (C) |
| Fair value estimate | $63.77 | $169.53 |
| Upside to fair value | -65% | -27% |
| Frequency | quarterly | quarterly |
| Market cap | $69.3B | $88.2B |
| P/E ratio | 77.2 | 16.9 |
Higher yield
SPG
3.94%
Safer dividend
DLR
Grade A
Faster growth
SPG
10.5%
Better value
SPG
-27% upside
DLR vs SPG — FAQ
Is DLR or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (7 vs 1). SPG offers the higher yield (3.94%), while DLR has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, DLR or SPG?
SPG has the higher forward dividend yield at 3.94%, versus 2.66% for DLR.
Is DLR or SPG safer?
DLR has the higher dividend-safety score (85/100 vs 63/100), reflecting stronger payout coverage and dividend-growth history.
Is DLR or SPG better value right now?
As of Nov 14, 2026, SPG looks like the better value: its fair-value estimate is 27% below its share price (overvalued). For DLR, its fair-value estimate is 65% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.