NNN vs SPG: Which Is the Better Dividend Stock?
As of July 2026, NNN and SPG are closely matched. NNN offers the higher yield at 5.00%, NNN has the higher dividend-safety score, and NNN trades at the larger discount to fair value (-8%).
| Metric | NNN | SPG |
|---|---|---|
| Forward yield | 5.00% | 3.85% |
| Annual dividend | $2.48 | $8.80 |
| Payout ratio | 116% | 60% |
| Years of growth | 35 yr | 5 yr |
| 5-yr dividend growth | 2.7% | 10.5% |
| 5-yr total return | 4% | 70% |
| Dividend safety score | 85 (A) | 61 (C) |
| Fair value estimate | $45.50 | $150.64 |
| Upside to fair value | -8% | -34% |
| Frequency | quarterly | quarterly |
| Market cap | $9.3B | $86.7B |
| P/E ratio | 24.2 | 15.9 |
Higher yield
NNN
5.00%
Safer dividend
NNN
Grade A
Faster growth
SPG
10.5%
Better value
NNN
-8% upside
NNN vs SPG — FAQ
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