SPG vs TWO: 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. TWO offers the higher yield at 11.25%, SPG has the higher dividend-safety score, and TWO trades at the larger discount to fair value (+145%).
| Metric | SPG | TWO |
|---|---|---|
| Forward yield | 3.85% | 11.25% |
| Annual dividend | $8.80 | $1.36 |
| Payout ratio | 60% | 76% |
| Years of growth | 5 yr | 0 yr |
| 5-yr dividend growth | 10.5% | -4.0% |
| 5-yr total return | 70% | -54% |
| Dividend safety score | 61 (C) | 47 (D) |
| Fair value estimate | $150.64 | $29.66 |
| Upside to fair value | -34% | +145% |
| Frequency | quarterly | quarterly |
| Market cap | $86.7B | $1.3B |
| P/E ratio | 15.9 | — |
Higher yield
TWO
11.25%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
TWO
+145% upside
SPG vs TWO — FAQ
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