MFA vs SPG: Which Is the Better Dividend Stock?
As of July 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. MFA offers the higher yield at 15.24%, SPG has the higher dividend-safety score, and MFA trades at the larger discount to fair value (+146%).
| Metric | MFA | SPG |
|---|---|---|
| Forward yield | 15.24% | 3.85% |
| Annual dividend | $1.44 | $8.80 |
| Payout ratio | 164% | 60% |
| Years of growth | 1 yr | 5 yr |
| 5-yr dividend growth | 7.6% | 10.5% |
| 5-yr total return | -51% | 70% |
| Dividend safety score | 46 (D) | 61 (C) |
| Fair value estimate | $23.29 | $150.64 |
| Upside to fair value | +146% | -34% |
| Frequency | quarterly | quarterly |
| Market cap | $948.5M | $86.7B |
| P/E ratio | 10.8 | 15.9 |
Higher yield
MFA
15.24%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
MFA
+146% upside
MFA vs SPG — FAQ
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