NLY vs PLD: Which Is the Better Dividend Stock?
As of September 2026, PLD (Prologis, Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. NLY offers the higher yield at 13.64%, PLD has the higher dividend-safety score, and NLY trades at the larger discount to fair value (+98%).
| Metric | NLY | PLD |
|---|---|---|
| Forward yield | 13.64% | 3.18% |
| Annual dividend | $3.00 | $4.28 |
| Payout ratio | 69% | 93% |
| Years of growth | 1 yr | 12 yr |
| 5-yr dividend growth | -5.1% | 11.7% |
| 5-yr total return | -35% | 8% |
| Dividend safety score | 55 (C) | 77 (B) |
| Fair value estimate | $45.27 | $66.27 |
| Upside to fair value | +98% | -52% |
| Frequency | quarterly | quarterly |
| Market cap | $16.5B | $132.0B |
| P/E ratio | 5.3 | 30.0 |
Higher yield
NLY
13.64%
Safer dividend
PLD
Grade B
Faster growth
PLD
11.7%
Better value
NLY
+98% upside
NLY vs PLD — FAQ
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