DLR vs SPG: Which Is the Better Dividend Stock?
As of July 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 3.85%, DLR has the higher dividend-safety score, and SPG trades at the larger discount to fair value (-34%).
| Metric | DLR | SPG |
|---|---|---|
| Forward yield | 2.81% | 3.85% |
| Annual dividend | $4.88 | $8.80 |
| Payout ratio | 129% | 60% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 1.7% | 10.5% |
| 5-yr total return | 6% | 70% |
| Dividend safety score | 85 (A) | 61 (C) |
| Fair value estimate | $105.10 | $150.64 |
| Upside to fair value | -40% | -34% |
| Frequency | quarterly | quarterly |
| Market cap | $66.3B | $86.7B |
| P/E ratio | 46.1 | 15.9 |
Higher yield
SPG
3.85%
Safer dividend
DLR
Grade A
Faster growth
SPG
10.5%
Better value
SPG
-34% upside
DLR vs SPG — FAQ
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