NNN vs SPG: Which Is the Better Dividend Stock?
As of Oct 24, 2026, NNN and SPG are closely matched. NNN offers the higher yield at 5.94%, NNN has the higher dividend-safety score, and NNN looks like the better value (its fair-value estimate is 12% above its share price).
Key facts: NNN vs SPG
Data as of · Source: SmarterDividends data
- As of Oct 24, 2026, NNN REIT, Inc. (NNN) has the higher forward dividend yield at 5.94%, versus 4.21% for Simon Property Group, Inc. (SPG).
- As of Oct 24, 2026, SmarterDividends grades NNN's dividend safety A (83/100) and SPG's C (63/100).
- By SmarterDividends' count as of Oct 24, 2026, NNN has raised its dividend for 35 consecutive years and SPG for 5.
- As of Oct 24, 2026, NNN pays out 119% of its earnings as dividends and SPG pays out 62%.
- As of Oct 24, 2026, NNN's fair-value estimate is 12% above its share price and SPG's fair-value estimate is 35% below its share price, so NNN looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "NNN vs SPG: Dividend Yield, Safety & Value Compared," updated Oct 24, 2026, https://smarterdividends.com/compare/nnn-vs-spg
| Metric | NNN | SPG |
|---|---|---|
| Forward yield | 5.94% | 4.21% |
| Annual dividend | $2.48 | $8.90 |
| Payout ratio | 119% | 62% |
| Years of growth | 35 yr | 5 yr |
| 5-yr dividend growth | 2.7% | 10.5% |
| 5-yr total return | -5% | 38% |
| Dividend safety score | 83 (A) | 63 (C) |
| Fair value estimate | $46.70 | $136.51 |
| Upside to fair value | +12% | -35% |
| Frequency | quarterly | quarterly |
| Market cap | $8.0B | $80.3B |
| P/E ratio | 20.7 | 14.9 |
Higher yield
NNN
5.94%
Safer dividend
NNN
Grade A
Faster growth
SPG
10.5%
Better value
NNN
+12% upside
NNN vs SPG — FAQ
Is NNN or SPG a better dividend stock?
NNN and SPG are closely matched. NNN has the higher yield; NNN scores better on safety.
Which has a higher dividend yield, NNN or SPG?
NNN has the higher forward dividend yield at 5.94%, versus 4.21% for SPG.
Is NNN or SPG safer?
NNN has the higher dividend-safety score (83/100 vs 63/100), reflecting stronger payout coverage and dividend-growth history.
Is NNN or SPG better value right now?
As of Oct 24, 2026, NNN looks like the better value: its fair-value estimate is 12% above its share price (fairly valued). For SPG, its fair-value estimate is 35% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.