SPG vs TWO: Which Is the Better Dividend Stock?
As of Oct 27, 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. TWO offers the higher yield at 11.17%, SPG has the higher dividend-safety score, and TWO looks like the better value (its fair-value estimate is 146% above its share price).
Key facts: SPG vs TWO
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, Two Harbors Investment Corp (TWO) has the higher forward dividend yield at 11.17%, versus 4.18% for Simon Property Group, Inc. (SPG).
- As of Oct 27, 2026, SmarterDividends grades SPG's dividend safety C (63/100) and TWO's D (40/100).
- By SmarterDividends' count as of Oct 27, 2026, SPG has raised its dividend for 5 consecutive years and TWO for 0.
- As of Oct 27, 2026, SPG pays out 62% of its earnings as dividends and TWO pays out 76%.
- As of Oct 27, 2026, SPG's fair-value estimate is 36% below its share price and TWO's fair-value estimate is 146% above its share price, so TWO looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "SPG vs TWO: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/spg-vs-two
| Metric | SPG | TWO |
|---|---|---|
| Forward yield | 4.18% | 11.17% |
| Annual dividend | $8.90 | $1.36 |
| Payout ratio | 62% | 76% |
| Years of growth | 5 yr | 0 yr |
| 5-yr dividend growth | 10.5% | -4.0% |
| 5-yr total return | 38% | — |
| Dividend safety score | 63 (C) | 40 (D) |
| Fair value estimate | $136.51 | $30.00 |
| Upside to fair value | -36% | +146% |
| Frequency | quarterly | quarterly |
| Market cap | $80.7B | $1.3B |
| P/E ratio | 15.0 | — |
Higher yield
TWO
11.17%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
TWO
+146% upside
SPG vs TWO — FAQ
Is SPG or TWO a better dividend stock?
On the data, SPG wins more head-to-head categories (5 vs 2). TWO offers the higher yield (11.17%), while SPG has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, SPG or TWO?
TWO has the higher forward dividend yield at 11.17%, versus 4.18% for SPG.
Is SPG or TWO safer?
SPG has the higher dividend-safety score (63/100 vs 40/100), reflecting stronger payout coverage and dividend-growth history.
Is SPG or TWO better value right now?
As of Oct 27, 2026, TWO looks like the better value: its fair-value estimate is 146% above its share price (undervalued). For SPG, its fair-value estimate is 36% below its share price.
Related comparisons
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.