SPG vs WPC: Which Is the Better Dividend Stock?
As of Nov 2, 2026, SPG (Simon Property Group, Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. WPC offers the higher yield at 5.93%, SPG has the higher dividend-safety score, and WPC looks like the better value (its fair-value estimate is 13% above its share price).
Key facts: SPG vs WPC
Data as of · Source: SmarterDividends data
- As of Nov 2, 2026, W. P. Carey Inc. (WPC) has the higher forward dividend yield at 5.93%, versus 4.09% for Simon Property Group, Inc. (SPG).
- As of Nov 2, 2026, SmarterDividends grades SPG's dividend safety C (63/100) and WPC's C (52/100).
- By SmarterDividends' count as of Nov 2, 2026, SPG has raised its dividend for 5 consecutive years and WPC for 1.
- As of Nov 2, 2026, SPG pays out 62% of its earnings as dividends and WPC pays out 130%.
- As of Nov 2, 2026, SPG's fair-value estimate is 37% below its share price and WPC's fair-value estimate is 13% above its share price, so WPC looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "SPG vs WPC: Dividend Yield, Safety & Value Compared," updated Nov 2, 2026, https://smarterdividends.com/compare/spg-vs-wpc
| Metric | SPG | WPC |
|---|---|---|
| Forward yield | 4.09% | 5.93% |
| Annual dividend | $8.90 | $3.80 |
| Payout ratio | 62% | 130% |
| Years of growth | 5 yr | 1 yr |
| 5-yr dividend growth | 10.5% | -2.4% |
| 5-yr total return | 42% | -14% |
| Dividend safety score | 63 (C) | 52 (C) |
| Fair value estimate | $136.51 | $72.71 |
| Upside to fair value | -37% | +13% |
| Frequency | quarterly | quarterly |
| Market cap | $82.7B | $14.8B |
| P/E ratio | 15.4 | 22.3 |
Higher yield
WPC
5.93%
Safer dividend
SPG
Grade C
Faster growth
SPG
10.5%
Better value
WPC
+13% upside
SPG vs WPC — FAQ
Is SPG or WPC a better dividend stock?
On the data, SPG wins more head-to-head categories (6 vs 2). WPC offers the higher yield (5.93%), 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 WPC?
WPC has the higher forward dividend yield at 5.93%, versus 4.09% for SPG.
Is SPG or WPC safer?
SPG has the higher dividend-safety score (63/100 vs 52/100), reflecting stronger payout coverage and dividend-growth history.
Is SPG or WPC better value right now?
As of Nov 2, 2026, WPC looks like the better value: its fair-value estimate is 13% above its share price (fairly valued). For SPG, its fair-value estimate is 37% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.