SPG vs VICI: Which Is the Better Dividend Stock?
As of July 2026, SPG and VICI are closely matched. VICI offers the higher yield at 6.70%, VICI has the higher dividend-safety score, and VICI trades at the larger discount to fair value (+17%).
| Metric | SPG | VICI |
|---|---|---|
| Forward yield | 3.85% | 6.70% |
| Annual dividend | $8.80 | $1.80 |
| Payout ratio | 60% | 61% |
| Years of growth | 5 yr | 7 yr |
| 5-yr dividend growth | 10.5% | 7.1% |
| 5-yr total return | 70% | -13% |
| Dividend safety score | 61 (C) | 77 (B) |
| Fair value estimate | $150.64 | $31.32 |
| Upside to fair value | -34% | +17% |
| Frequency | quarterly | quarterly |
| Market cap | $86.7B | $29.6B |
| P/E ratio | 15.9 | 9.2 |
Higher yield
VICI
6.70%
Safer dividend
VICI
Grade B
Faster growth
SPG
10.5%
Better value
VICI
+17% upside
SPG vs VICI — FAQ
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