FPI 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 6 of 8 head-to-head metrics. SPG offers the higher yield at 4.33%, FPI has the higher dividend-safety score, and SPG looks like the better value (its fair-value estimate is 33% below its share price).
Key facts: FPI vs SPG
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Simon Property Group, Inc. (SPG) has the higher forward dividend yield at 4.33%, versus 3.48% for Farmland Partners Inc. (FPI).
- As of Oct 18, 2026, SmarterDividends grades FPI's dividend safety B (69/100) and SPG's C (63/100).
- By SmarterDividends' count as of Oct 18, 2026, FPI has raised its dividend for 0 consecutive years and SPG for 5.
- As of Oct 18, 2026, FPI pays out 59% of its earnings as dividends and SPG pays out 62%.
- As of Oct 18, 2026, FPI's fair-value estimate is 44% below its share price and SPG's fair-value estimate is 33% below its share price, so SPG looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "FPI vs SPG: Dividend Yield, Safety & Value Compared," updated Oct 18, 2026, https://smarterdividends.com/compare/fpi-vs-spg
| Metric | FPI | SPG |
|---|---|---|
| Forward yield | 3.48% | 4.33% |
| Annual dividend | $0.36 | $8.90 |
| Payout ratio | 59% | 62% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 3.7% | 10.5% |
| 5-yr total return | -11% | 34% |
| Dividend safety score | 69 (B) | 63 (C) |
| Fair value estimate | $5.80 | $137.69 |
| Upside to fair value | -44% | -33% |
| Frequency | quarterly | quarterly |
| Market cap | $454.6M | $78.0B |
| P/E ratio | 20.3 | 14.5 |
Higher yield
SPG
4.33%
Safer dividend
FPI
Grade B
Faster growth
SPG
10.5%
Better value
SPG
-33% upside
FPI vs SPG — FAQ
Is FPI or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (6 vs 2). SPG offers the higher yield (4.33%), while FPI has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, FPI or SPG?
SPG has the higher forward dividend yield at 4.33%, versus 3.48% for FPI.
Is FPI or SPG safer?
FPI has the higher dividend-safety score (69/100 vs 63/100), reflecting stronger payout coverage and dividend-growth history.
Is FPI or SPG better value right now?
As of Oct 18, 2026, SPG looks like the better value: its fair-value estimate is 33% below its share price (overvalued). For FPI, its fair-value estimate is 44% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.