REFI 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 4 of 7 head-to-head metrics. REFI offers the higher yield at 20.22%, REFI has the higher dividend-safety score, and REFI looks like the better value (its fair-value estimate is 238% above its share price).
Key facts: REFI vs SPG
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, Chicago Atlantic Real Estate Finance, Inc. (REFI) has the higher forward dividend yield at 20.22%, versus 4.18% for Simon Property Group, Inc. (SPG).
- As of Oct 27, 2026, SmarterDividends grades REFI's dividend safety C (65/100) and SPG's C (63/100).
- By SmarterDividends' count as of Oct 27, 2026, REFI has raised its dividend for 0 consecutive years and SPG for 5.
- As of Oct 27, 2026, REFI pays out 137% of its earnings as dividends and SPG pays out 62%.
- As of Oct 27, 2026, REFI's fair-value estimate is 238% above its share price and SPG's fair-value estimate is 36% below its share price, so REFI looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "REFI vs SPG: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/refi-vs-spg
| Metric | REFI | SPG |
|---|---|---|
| Forward yield | 20.22% | 4.18% |
| Annual dividend | $1.88 | $8.90 |
| Payout ratio | 137% | 62% |
| Years of growth | 0 yr | 5 yr |
| 5-yr dividend growth | — | 10.5% |
| 5-yr total return | -44% | 38% |
| Dividend safety score | 65 (C) | 63 (C) |
| Fair value estimate | $31.48 | $136.51 |
| Upside to fair value | +238% | -36% |
| Frequency | quarterly | quarterly |
| Market cap | $238.3M | $80.7B |
| P/E ratio | 6.8 | 15.0 |
Higher yield
REFI
20.22%
Safer dividend
REFI
Grade C
Faster growth
SPG
10.5%
Better value
REFI
+238% upside
REFI vs SPG — FAQ
Is REFI or SPG a better dividend stock?
On the data, SPG wins more head-to-head categories (4 vs 3). REFI offers the higher yield (20.22%), while REFI has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, REFI or SPG?
REFI has the higher forward dividend yield at 20.22%, versus 4.18% for SPG.
Is REFI or SPG safer?
REFI has the higher dividend-safety score (65/100 vs 63/100), reflecting stronger payout coverage and dividend-growth history.
Is REFI or SPG better value right now?
As of Oct 27, 2026, REFI looks like the better value: its fair-value estimate is 238% 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.