NLY-PG vs SPG: Which Is the Better Dividend Stock?
As of August 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. NLY-PG offers the higher yield at 8.14%, SPG has the higher dividend-safety score, and NLY-PG trades at the larger discount to fair value (+23%).
| Metric | NLY-PG | SPG |
|---|---|---|
| Forward yield | 8.14% | 4.15% |
| Annual dividend | $2.08 | $8.90 |
| Payout ratio | — | 62% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 6.2% | 10.5% |
| 5-yr total return | -0% | 65% |
| Dividend safety score | 45 (D) | 61 (C) |
| Fair value estimate | $31.37 | $151.60 |
| Upside to fair value | +23% | -29% |
| Frequency | quarterly | quarterly |
| Market cap | — | $81.5B |
| P/E ratio | 14.5 | 15.2 |
Higher yield
NLY-PG
8.14%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
NLY-PG
+23% upside
NLY-PG vs SPG — FAQ
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