MAA vs SPG: Which Is the Better Dividend Stock?
As of September 2026, MAA and SPG are closely matched. MAA offers the higher yield at 5.15%, MAA has the higher dividend-safety score, and MAA trades at the larger discount to fair value (+47%).
| Metric | MAA | SPG |
|---|---|---|
| Forward yield | 5.15% | 4.33% |
| Annual dividend | $6.12 | $8.90 |
| Payout ratio | 178% | 62% |
| Years of growth | 15 yr | 5 yr |
| 5-yr dividend growth | 8.7% | 10.5% |
| 5-yr total return | -42% | 40% |
| Dividend safety score | 81 (A) | 63 (C) |
| Fair value estimate | $175.09 | $128.47 |
| Upside to fair value | +47% | -37% |
| Frequency | quarterly | quarterly |
| Market cap | $14.2B | $77.8B |
| P/E ratio | 34.7 | 14.5 |
Higher yield
MAA
5.15%
Safer dividend
MAA
Grade A
Faster growth
SPG
10.5%
Better value
MAA
+47% upside
MAA vs SPG — FAQ
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