SPG vs TRTX: Which Is the Better Dividend Stock?
As of September 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. TRTX offers the higher yield at 12.83%, SPG has the higher dividend-safety score, and TRTX trades at the larger discount to fair value (+46%).
| Metric | SPG | TRTX |
|---|---|---|
| Forward yield | 4.35% | 12.83% |
| Annual dividend | $8.90 | $0.96 |
| Payout ratio | 62% | 175% |
| Years of growth | 5 yr | 0 yr |
| 5-yr dividend growth | 10.5% | -6.1% |
| 5-yr total return | 58% | -40% |
| Dividend safety score | 63 (C) | 47 (D) |
| Fair value estimate | $146.37 | $10.83 |
| Upside to fair value | -29% | +46% |
| Frequency | quarterly | quarterly |
| Market cap | $77.8B | $569.6M |
| P/E ratio | 14.5 | 13.5 |
Higher yield
TRTX
12.83%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
TRTX
+46% upside
SPG vs TRTX — FAQ
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