SPG vs VICI: Which Is the Better Dividend Stock?
As of September 2026, SPG and VICI are closely matched. VICI offers the higher yield at 7.35%, VICI has the higher dividend-safety score, and VICI trades at the larger discount to fair value (+75%).
| Metric | SPG | VICI |
|---|---|---|
| Forward yield | 4.34% | 7.35% |
| Annual dividend | $8.90 | $1.84 |
| Payout ratio | 62% | 70% |
| Years of growth | 5 yr | 7 yr |
| 5-yr dividend growth | 10.5% | 7.1% |
| 5-yr total return | 58% | -13% |
| Dividend safety score | 63 (C) | 74 (B) |
| Fair value estimate | $146.37 | $43.38 |
| Upside to fair value | -29% | +75% |
| Frequency | quarterly | quarterly |
| Market cap | $77.5B | $27.3B |
| P/E ratio | 14.5 | 9.7 |
Higher yield
VICI
7.35%
Safer dividend
VICI
Grade B
Faster growth
SPG
10.5%
Better value
VICI
+75% upside
SPG vs VICI — FAQ
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