PLD 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 8 head-to-head metrics. SPG offers the higher yield at 4.04%, PLD has the higher dividend-safety score, and SPG trades at the larger discount to fair value (-32%).
| Metric | PLD | SPG |
|---|---|---|
| Forward yield | 3.04% | 4.04% |
| Annual dividend | $4.28 | $8.90 |
| Payout ratio | 93% | 62% |
| Years of growth | 12 yr | 5 yr |
| 5-yr dividend growth | 11.7% | 10.5% |
| 5-yr total return | 4% | 66% |
| Dividend safety score | 79 (B) | 61 (C) |
| Fair value estimate | $64.04 | $150.74 |
| Upside to fair value | -54% | -32% |
| Frequency | quarterly | quarterly |
| Market cap | $137.3B | $84.1B |
| P/E ratio | 31.4 | 15.6 |
Higher yield
SPG
4.04%
Safer dividend
PLD
Grade B
Faster growth
PLD
11.7%
Better value
SPG
-32% upside
PLD vs SPG — FAQ
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