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REIT Intelligence

NNN REIT Watch

Comprehensive tracker for publicly traded net lease REITs. Compare dividend yields, FFO multiples, portfolio composition, and growth profiles across the sector.

$144B+
Total Net Lease REIT Market Cap
Across all publicly traded NNN REITs
5.3%
Average Dividend Yield
Weighted by market cap
13.5x
Average P/FFO Multiple
Sector median for NNN REITs
9.8 yrs
Avg Weighted Lease Term
Across major NNN portfolios
REITTickerFocusMkt CapDiv YieldP/FFOPropertiesDiv Growth
Realty Income
Largest net lease REIT. Monthly dividend payer. S&P 500 member. Absorbed Spirit …
O
NYSE
Retail, Industrial, Gaming$58.8B5.1%
Monthly
15.2x15,400+30 years
W.P. Carey
Diversified across property types and geographies (U.S. + Europe). Exited office…
WPC
NYSE
Industrial, Warehouse, Retail, Self-Storage$15.6B5.2%
Quarterly
13.5x1,400+—
NNN REIT
36 consecutive years of dividend increases — one of the longest streaks in REIT …
NNN
NYSE
Retail NNN$13.2B5.4%
Quarterly
12.8x3,69236 years
Agree Realty
Growth-oriented with 68% investment-grade tenant base. Monthly dividend payer. P…
ADC
NYSE
Retail NNN (Investment Grade)$9.6B3.9%
Monthly
16.2x2,200+12 years
VICI Properties
Owns Caesars Palace, MGM Grand, and Venetian. Triple-net gaming leases with stro…
VICI
NYSE
Gaming, Hospitality, Entertainment$29.2B6.2%
Quarterly
13.7x937 years
STAG Industrial
Single-tenant industrial REIT focused on secondary markets. Monthly dividend pay…
STAG
NYSE
Industrial, Warehouse, Distribution$7.3B4.1%
Monthly
14.5x560+8 years
Essential Properties Realty Trust
Targets middle-market, e-commerce-resistant tenants. ~9% AFFO growth outlook for…
EPRT
NYSE
Service-Oriented Retail, Experiential$3.2B4.0%
Quarterly
15.1x1,900+6 years
Broadstone Net Lease
Diversified single-tenant REIT. Value-oriented with higher yields and weighted a…
BNL
NYSE
Industrial, Healthcare, Restaurant, Retail$3.8B5.8%
Quarterly
11.2x770+5 years
NETSTREIT
Newer REIT (IPO 2020) with 80%+ investment-grade tenants. Strong credit quality …
NTST
NYSE
Retail NNN (Investment Grade)$1.8B4.9%
Quarterly
14.0x600+4 years
Global Net Lease
High-yield play post-merger with Necessity Retail REIT. Elevated leverage. Disco…
GNL
NYSE
Diversified (U.S. + Europe)$2.1B11.5%
Quarterly
8.5x1,300+—
Alpine Income Property Trust
Micro-cap net lease REIT externally managed by CTO Realty. Higher yield with act…
PINE
NYSE
Retail NNN$370M6.8%
Quarterly
10.2x140+4 years
Data is approximate and may be delayed. Dividend yields based on trailing 12-month distributions. Market cap and P/FFO are estimates. Verify with your broker before making investment decisions.

REIT Profiles

Realty Income
NYSE: O · Retail, Industrial, Gaming
5.1%

Largest net lease REIT. Monthly dividend payer. S&P 500 member. Absorbed Spirit Realty in Jan 2024.

$58.8B
Market Cap
15.2x
P/FFO
15,400+
Properties
W.P. Carey
NYSE: WPC · Industrial, Warehouse, Retail, Self-Storage
5.2%

Diversified across property types and geographies (U.S. + Europe). Exited office in late 2023.

$15.6B
Market Cap
13.5x
P/FFO
1,400+
Properties
NNN REIT
NYSE: NNN · Retail NNN
5.4%

36 consecutive years of dividend increases — one of the longest streaks in REIT history. Pure-play retail NNN.

$13.2B
Market Cap
12.8x
P/FFO
3,692
Properties
Agree Realty
NYSE: ADC · Retail NNN (Investment Grade)
3.9%

Growth-oriented with 68% investment-grade tenant base. Monthly dividend payer. Premium valuation reflects quality.

$9.6B
Market Cap
16.2x
P/FFO
2,200+
Properties
VICI Properties
NYSE: VICI · Gaming, Hospitality, Entertainment
6.2%

Owns Caesars Palace, MGM Grand, and Venetian. Triple-net gaming leases with strong rent coverage ratios.

$29.2B
Market Cap
13.7x
P/FFO
93
Properties
STAG Industrial
NYSE: STAG · Industrial, Warehouse, Distribution
4.1%

Single-tenant industrial REIT focused on secondary markets. Monthly dividend payer with strong logistics tailwinds.

$7.3B
Market Cap
14.5x
P/FFO
560+
Properties
Essential Properties Realty Trust
NYSE: EPRT · Service-Oriented Retail, Experiential
4.0%

Targets middle-market, e-commerce-resistant tenants. ~9% AFFO growth outlook for 2026. Fastest-growing mid-cap.

$3.2B
Market Cap
15.1x
P/FFO
1,900+
Properties
Broadstone Net Lease
NYSE: BNL · Industrial, Healthcare, Restaurant, Retail
5.8%

Diversified single-tenant REIT. Value-oriented with higher yields and weighted average lease term of 10+ years.

$3.8B
Market Cap
11.2x
P/FFO
770+
Properties
NETSTREIT
NYSE: NTST · Retail NNN (Investment Grade)
4.9%

Newer REIT (IPO 2020) with 80%+ investment-grade tenants. Strong credit quality focus with low leverage.

$1.8B
Market Cap
14.0x
P/FFO
600+
Properties
Global Net Lease
NYSE: GNL · Diversified (U.S. + Europe)
11.5%

High-yield play post-merger with Necessity Retail REIT. Elevated leverage. Discount to NAV reflects restructuring risk.

$2.1B
Market Cap
8.5x
P/FFO
1,300+
Properties
Alpine Income Property Trust
NYSE: PINE · Retail NNN
6.8%

Micro-cap net lease REIT externally managed by CTO Realty. Higher yield with active portfolio recycling strategy.

$370M
Market Cap
10.2x
P/FFO
140+
Properties
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