FCPT vs SPG: Which Is the Better Dividend Stock?
As of Oct 18, 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. FCPT offers the higher yield at 6.90%, SPG has the higher dividend-safety score, and FCPT looks like the better value (its fair-value estimate is 6% above its share price).
Key facts: FCPT vs SPG
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Four Corners Property Trust, Inc. (FCPT) has the higher forward dividend yield at 6.90%, versus 4.33% for Simon Property Group, Inc. (SPG).
- As of Oct 18, 2026, SmarterDividends grades FCPT's dividend safety D (45/100) and SPG's C (63/100).
- By SmarterDividends' count as of Oct 18, 2026, FCPT has raised its dividend for 9 consecutive years and SPG for 5.
- As of Oct 18, 2026, FCPT pays out 132% of its earnings as dividends and SPG pays out 62%.
- As of Oct 18, 2026, FCPT's fair-value estimate is 6% above its share price and SPG's fair-value estimate is 33% below its share price, so FCPT looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "FCPT vs SPG: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/fcpt-vs-spg
| Metric | FCPT | SPG |
|---|---|---|
| Forward yield | 6.90% | 4.33% |
| Annual dividend | $1.52 | $8.90 |
| Payout ratio | 132% | 62% |
| Years of growth | 9 yr | 5 yr |
| 5-yr dividend growth | 3.1% | 10.5% |
| 5-yr total return | -19% | 34% |
| Dividend safety score | 45 (D) | 63 (C) |
| Fair value estimate | $23.30 | $137.69 |
| Upside to fair value | +6% | -33% |
| Frequency | monthly | quarterly |
| Market cap | $2.4B | $78.0B |
| P/E ratio | 20.0 | 14.5 |
Higher yield
FCPT
6.90%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
FCPT
+6% upside
FCPT vs SPG — FAQ
Is FCPT or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (5 vs 3). FCPT offers the higher yield (6.90%), while SPG has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, FCPT or SPG?
FCPT has the higher forward dividend yield at 6.90%, versus 4.33% for SPG.
Is FCPT or SPG safer?
SPG has the higher dividend-safety score (63/100 vs 45/100), reflecting stronger payout coverage and dividend-growth history.
Is FCPT or SPG better value right now?
As of Oct 18, 2026, FCPT looks like the better value: its fair-value estimate is 6% above its share price (fairly valued). For SPG, its fair-value estimate is 33% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.