ESS vs SPG: Which Is the Better Dividend Stock?
As of July 2026, ESS and SPG are closely matched. SPG offers the higher yield at 3.85%, ESS has the higher dividend-safety score, and ESS trades at the larger discount to fair value (-17%).
| Metric | ESS | SPG |
|---|---|---|
| Forward yield | 3.54% | 3.85% |
| Annual dividend | $10.36 | $8.80 |
| Payout ratio | 116% | 60% |
| Years of growth | 30 yr | 5 yr |
| 5-yr dividend growth | 4.1% | 10.5% |
| 5-yr total return | -11% | 70% |
| Dividend safety score | 85 (A) | 61 (C) |
| Fair value estimate | $243.68 | $150.64 |
| Upside to fair value | -17% | -34% |
| Frequency | quarterly | quarterly |
| Market cap | $20.3B | $86.7B |
| P/E ratio | 33.0 | 15.9 |
Higher yield
SPG
3.85%
Safer dividend
ESS
Grade A
Faster growth
SPG
10.5%
Better value
ESS
-17% upside
ESS vs SPG — FAQ
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