SPG vs TWO-PC: Which Is the Better Dividend Stock?
As of Oct 8, 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 5 of 7 head-to-head metrics. TWO-PC offers the higher yield at 9.14%, SPG has the higher dividend-safety score, and TWO-PC looks like the better value (its fair-value estimate is 16% above its share price).
Key facts: SPG vs TWO-PC
Data as of · Source: SmarterDividends data
- As of Oct 8, 2026, Two Harbors Investment Corp. (TWO-PC) has the higher forward dividend yield at 9.14%, versus 4.50% for Simon Property Group, Inc. (SPG).
- As of Oct 8, 2026, SmarterDividends grades SPG's dividend safety C (63/100) and TWO-PC's D (45/100).
- By SmarterDividends' count as of Oct 8, 2026, SPG has raised its dividend for 5 consecutive years and TWO-PC for 1.
- As of Oct 8, 2026, SPG's fair-value estimate is 31% below its share price and TWO-PC's fair-value estimate is 16% above its share price, so TWO-PC looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "SPG vs TWO-PC: Dividend Yield, Safety & Value Compared," updated Oct 8, 2026, https://smarterdividends.com/compare/spg-vs-two-pc
| Metric | SPG | TWO-PC |
|---|---|---|
| Forward yield | 4.50% | 9.14% |
| Annual dividend | $8.90 | $2.32 |
| Payout ratio | 62% | — |
| Years of growth | 5 yr | 1 yr |
| 5-yr dividend growth | 10.5% | 4.6% |
| 5-yr total return | 37% | 1% |
| Dividend safety score | 63 (C) | 45 (D) |
| Fair value estimate | $136.60 | $29.33 |
| Upside to fair value | -31% | +16% |
| Frequency | quarterly | quarterly |
| Market cap | $75.0B | — |
| P/E ratio | 14.2 | 7.0 |
Higher yield
TWO-PC
9.14%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
TWO-PC
+16% upside
SPG vs TWO-PC — FAQ
Is SPG or TWO-PC a better dividend stock?
On the data, SPG wins more head-to-head categories (5 vs 2). TWO-PC offers the higher yield (9.14%), 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-PC?
TWO-PC has the higher forward dividend yield at 9.14%, versus 4.50% for SPG.
Is SPG or TWO-PC safer?
SPG has the higher dividend-safety score (63/100 vs 45/100), reflecting stronger payout coverage and dividend-growth history.
Is SPG or TWO-PC better value right now?
As of Oct 8, 2026, TWO-PC looks like the better value: its fair-value estimate is 16% above its share price (undervalued). For SPG, its fair-value estimate is 31% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.