PMT vs SPG: Which Is the Better Dividend Stock?
As of July 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. PMT offers the higher yield at 16.16%, SPG has the higher dividend-safety score, and PMT trades at the larger discount to fair value (+238%).
| Metric | PMT | SPG |
|---|---|---|
| Forward yield | 16.16% | 3.85% |
| Annual dividend | $1.60 | $8.80 |
| Payout ratio | 138% | 60% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | 1.0% | 10.5% |
| 5-yr total return | -49% | 70% |
| Dividend safety score | 41 (D) | 61 (C) |
| Fair value estimate | $33.49 | $150.64 |
| Upside to fair value | +238% | -34% |
| Frequency | quarterly | quarterly |
| Market cap | $849.4M | $86.7B |
| P/E ratio | 8.5 | 15.9 |
Higher yield
PMT
16.16%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
PMT
+238% upside
PMT vs SPG — FAQ
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