MRP vs SPG: Which Is the Better Dividend Stock?
As of Nov 9, 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 3 of 5 head-to-head metrics. MRP offers the higher yield at 12.19%, SPG has the higher dividend-safety score, and MRP looks like the better value (its fair-value estimate is 150% above its share price).
Key facts: MRP vs SPG
Data as of · Source: SmarterDividends data
- As of Nov 9, 2026, Millrose Properties, Inc. (MRP) has the higher forward dividend yield at 12.19%, versus 4.03% for Simon Property Group, Inc. (SPG).
- By SmarterDividends' count as of Nov 9, 2026, MRP has raised its dividend for 0 consecutive years and SPG for 5.
- As of Nov 9, 2026, MRP pays out 102% of its earnings as dividends and SPG pays out 64%.
- As of Nov 9, 2026, MRP's fair-value estimate is 150% above its share price and SPG's fair-value estimate is 14% below its share price, so MRP looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "MRP vs SPG: Dividend Yield, Safety & Value Compared," updated Nov 9, 2026, https://smarterdividends.com/compare/mrp-vs-spg
| Metric | MRP | SPG |
|---|---|---|
| Forward yield | 12.19% | 4.03% |
| Annual dividend | $3.16 | $9.20 |
| Payout ratio | 102% | 64% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | — | 10.5% |
| 5-yr total return | — | 49% |
| Dividend safety score | — | 63 (C) |
| Fair value estimate | $64.77 | $195.40 |
| Upside to fair value | +150% | -14% |
| Frequency | quarterly | quarterly |
| Market cap | $4.3B | $86.5B |
| P/E ratio | 8.6 | 16.5 |
Higher yield
MRP
12.19%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
MRP
+150% upside
MRP vs SPG — FAQ
Is MRP or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (3 vs 2). MRP offers the higher yield (12.19%), 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, MRP or SPG?
MRP has the higher forward dividend yield at 12.19%, versus 4.03% for SPG.
Is MRP or SPG safer?
Compare each stock's payout ratio, growth streak and cut history on its detail page to judge safety.
Is MRP or SPG better value right now?
As of Nov 9, 2026, MRP looks like the better value: its fair-value estimate is 150% above its share price (undervalued). For SPG, its fair-value estimate is 14% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.