ELS vs SPG: Which Is the Better Dividend Stock?
As of Nov 8, 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 4.03%, ELS has the higher dividend-safety score, and ELS looks like the better value (its fair-value estimate is 5% below its share price).
Key facts: ELS vs SPG
Data as of · Source: SmarterDividends data
- As of Nov 8, 2026, Simon Property Group, Inc. (SPG) has the higher forward dividend yield at 4.03%, versus 3.45% for Equity LifeStyle Properties, Inc. (ELS).
- As of Nov 8, 2026, SmarterDividends grades ELS's dividend safety B (76/100) and SPG's C (63/100).
- By SmarterDividends' count as of Nov 8, 2026, ELS has raised its dividend for 21 consecutive years and SPG for 5.
- As of Nov 8, 2026, ELS pays out 106% of its earnings as dividends and SPG pays out 64%.
- As of Nov 8, 2026, ELS's fair-value estimate is 5% below its share price and SPG's fair-value estimate is 14% below its share price, so ELS looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "ELS vs SPG: Dividend Yield, Safety & Value Compared," updated Nov 8, 2026, https://smarterdividends.com/compare/els-vs-spg
| Metric | ELS | SPG |
|---|---|---|
| Forward yield | 3.45% | 4.03% |
| Annual dividend | $2.17 | $9.20 |
| Payout ratio | 106% | 64% |
| Years of growth | 21 yr | 5 yr |
| 5-yr dividend growth | 8.5% | 10.5% |
| 5-yr total return | -23% | 49% |
| Dividend safety score | 76 (B) | 63 (C) |
| Fair value estimate | $59.83 | $195.40 |
| Upside to fair value | -5% | -14% |
| Frequency | quarterly | quarterly |
| Market cap | $12.7B | $86.5B |
| P/E ratio | 31.2 | 16.5 |
Higher yield
SPG
4.03%
Safer dividend
ELS
Grade B
Faster growth
SPG
10.5%
Better value
ELS
-5% upside
ELS vs SPG — FAQ
Is ELS or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (5 vs 3). SPG offers the higher yield (4.03%), while ELS has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, ELS or SPG?
SPG has the higher forward dividend yield at 4.03%, versus 3.45% for ELS.
Is ELS or SPG safer?
ELS has the higher dividend-safety score (76/100 vs 63/100), reflecting stronger payout coverage and dividend-growth history.
Is ELS or SPG better value right now?
As of Nov 8, 2026, ELS looks like the better value: its fair-value estimate is 5% below its share price (fairly valued). For SPG, its fair-value estimate is 14% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.