NLY vs SPG: Which Is the Better Dividend Stock?
As of Oct 27, 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. NLY offers the higher yield at 16.43%, SPG has the higher dividend-safety score, and NLY looks like the better value (its fair-value estimate is 166% above its share price).
Key facts: NLY vs SPG
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, Annaly Capital Management, Inc. (NLY) has the higher forward dividend yield at 16.43%, versus 4.18% for Simon Property Group, Inc. (SPG).
- As of Oct 27, 2026, SmarterDividends grades NLY's dividend safety C (55/100) and SPG's C (63/100).
- By SmarterDividends' count as of Oct 27, 2026, NLY has raised its dividend for 1 consecutive years and SPG for 5.
- As of Oct 27, 2026, NLY pays out 70% of its earnings as dividends and SPG pays out 62%.
- As of Oct 27, 2026, NLY's fair-value estimate is 166% above its share price and SPG's fair-value estimate is 36% below its share price, so NLY looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "NLY vs SPG: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/nly-vs-spg
| Metric | NLY | SPG |
|---|---|---|
| Forward yield | 16.43% | 4.18% |
| Annual dividend | $3.00 | $8.90 |
| Payout ratio | 70% | 62% |
| Years of growth | 1 yr | 5 yr |
| 5-yr dividend growth | -5.1% | 10.5% |
| 5-yr total return | -43% | 38% |
| Dividend safety score | 55 (C) | 63 (C) |
| Fair value estimate | $48.61 | $136.51 |
| Upside to fair value | +166% | -36% |
| Frequency | quarterly | quarterly |
| Market cap | $13.8B | $80.7B |
| P/E ratio | 12.8 | 15.0 |
Higher yield
NLY
16.43%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
NLY
+166% upside
NLY vs SPG — FAQ
Is NLY or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (6 vs 2). NLY offers the higher yield (16.43%), 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, NLY or SPG?
NLY has the higher forward dividend yield at 16.43%, versus 4.18% for SPG.
Is NLY or SPG safer?
SPG has the higher dividend-safety score (63/100 vs 55/100), reflecting stronger payout coverage and dividend-growth history.
Is NLY or SPG better value right now?
As of Oct 27, 2026, NLY looks like the better value: its fair-value estimate is 166% above its share price (undervalued). For SPG, its fair-value estimate is 36% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.