REIT Comparison
ADC vs NNN vs O: Which Is the Better Pick in 2026?
A side-by-side comparison of Agree Realty, NNN REIT, Inc. and Realty Income Corporation covering yield, cost, risk, and income potential.
Data updated August 13, 2026
Best for
- ADCInvestors who want real-estate income and inflation sensitivity.
- NNNInvestors who want higher current income (5.29% vs 4.37% for ADC).
- OInvestors who want higher current income (5.25% vs 4.37% for ADC).
Side-by-side snapshot
| Metric | ADC | NNN | O |
|---|---|---|---|
| Full name | Agree Realty | NNN REIT, Inc. | Realty Income Corporation |
| Issuer | Agree Realty | NNN REIT | Realty Income |
| Last Close | $74.36 as of August 13, 2026 | $45.81 as of August 13, 2026 | $62.59 as of August 13, 2026 |
| Distribution yield | 4.37% | 5.29% | 5.25% |
| Distribution Safety Score™ | 94 | 100 | 100 |
| Expense ratio | — | — | — |
| AUM | — | — | — |
| Distribution frequency | Monthly | Quarterly | Monthly |
| Underlying index | — | — | — |
| Objective | A real estate investment trust focused on income-producing properties. | A net lease REIT that acquires, owns, and manages single-tenant retail properties under long-term net leases. A Dividend Aristocrat with over 35 consecutive years of dividend increases. | A real estate investment trust that invests in freestanding, single-tenant commercial properties subject to long-term net lease agreements. Known as "The Monthly Dividend Company," Realty Income has a long track record of monthly dividend payments and consistent dividend growth. |
| Asset class | Real Estate | Real Estate | Real Estate |
| Inception date | N/A | N/A | N/A |
| Beta | 0.468 | 0.783 | 0.72 |
| Last dividend | $0.2670 | $0.6200 | $0.2710 |
| Ex-dividend date | 07/31/2026 | 07/31/2026 | 07/31/2026 |
Income calculator
See how much monthly income a hypothetical investment would generate in each real estate investment trust at current yields.
Want to go deeper?
Add these REITs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
NNN tops the group over the trailing twelve months with a 16.56% total return, against ADC at 6.45% and O at 14.56%. Across the 10-year window, ADC has the strongest compounding at 8.81% a year. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD | 1Y | 3Y | 5Y | 10Y | Since Oct 1994 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|---|
| ADC | 5.65% | 6.45% | 10.67% | 4.32% | 8.81% | 12.38% | 17.8% | 0.32 | 0.46 | -13.4% |
| NNN | 20.77% | 16.56% | 11.47% | 4.72% | 3.99% | 11.31% | 18.7% | 0.34 | 0.49 | -22.0% |
| O | 12.09% | 14.56% | 8.34% | 3.25% | 4.27% | 13.47% | 18.3% | 0.19 | 0.27 | -19.4% |
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 12, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 1994” measures every fund from October 18, 1994 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
ADC (Agree Realty), NNN (NNN REIT, Inc.), O (Realty Income Corporation) are dividend-paying real estate investment trusts (REITs) that take different approaches.
NNN offers the highest reported yield at 5.29%, followed by O at 5.25%, ADC at 4.37%.
Still deciding? Track ADC, NNN & O for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
Deep dive
Yield & income
On a $10,000 investment: ADC generates ~$36.42/month, NNN generates ~$44.08/month, O generates ~$43.75/month at current distribution rates.
Strategy & risk
ADC is a real estate investment trust; NNN is a real estate investment trust; O is a real estate investment trust.
Security details
ADC (Agree Realty) is a real estate investment trust. NNN (NNN REIT, Inc.) is a real estate investment trust. O (Realty Income Corporation) is a real estate investment trust.
Enjoyed this page?
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend investments.
Frequently asked questions
Which of ADC, NNN, O is best for dividend income?
It depends on your goals. NNN currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.
What is the difference between ADC, NNN, O?
ADC (Agree Realty) is a real estate investment trust, issued by Agree Realty. NNN (NNN REIT, Inc.) is a real estate investment trust, issued by NNN REIT. O (Realty Income Corporation) is a real estate investment trust, issued by Realty Income.
Can I hold ADC, NNN, O together?
Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which of ADC, NNN and O is safest?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: NNN scores 100, O scores 100, ADC scores 94. Neither has a clear safety edge on that measure. ADC has also shown lower price volatility (beta 0.47 vs 0.78 for NNN). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
How much income does $10,000 generate in each?
$10,000 in ADC yields ~$36.42/month ($437.00/year). $10,000 in NNN yields ~$44.08/month ($529.00/year). $10,000 in O yields ~$43.75/month ($525.00/year).
More comparisons to explore
Popular comparisons
ADC vs NNN vs O — at a glance
Generated August 9, 2026.
Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.
Overview
All three are diversified net lease real estate investment trusts that own freestanding commercial properties, but they differ in tenant diversity, lease structures, and distribution frequency. ADC and O both pay monthly, while NNN is a Dividend Aristocrat paying quarterly. ADC trades at the highest price per share and offers the lowest yield; O has the strongest income frequency alongside a high yield; NNN combines the highest yield with three-plus decades of consecutive increases.
How they differ
ADC is diversified across property types and tenants, whereas both NNN and O focus on single-tenant net lease properties where tenants bear most operating costs. O and NNN are pure-play net lease operators; ADC is broader in strategy. On yield, NNN leads at 5.07%, followed by O at 5.19%—almost identical—while ADC trails at 4.21%. The biggest structural distinction is distribution frequency: O pays monthly (aligned with its "Monthly Dividend Company" brand), NNN pays quarterly but has increased its dividend for 35+ consecutive years, and ADC pays monthly but with less dividend history. On volatility, ADC's beta of 0.468 sits well below NNN (0.783) and O (0.72), suggesting lower price swings but also less upside capture in rising markets.
Who each is best for
ADC: Fits investors seeking a lower-volatility real estate holding with monthly income and diversification across property types beyond single-tenant net leases.
NNN: Designed for income-focused investors with a long time horizon who prioritize a proven multi-decade track record of dividend growth and can accept quarterly distribution frequency.
O: Aligns with investors who want monthly cash flow (matching its branding and operational history since 1994) and are comfortable with net lease concentration in exchange for consistent, frequent payouts.
Key risks to know
- Lease expiration and tenant credit risk: All three depend on tenant creditworthiness and successful lease renewal. If major tenants exit or default, vacancy risk and capital intensity could rise, pressuring distributions. NNN and O's net lease structure shifts more operational risk to tenants but still leaves the REIT exposed to non-renewal.
- Interest rate sensitivity: Net lease REITs are vulnerable to rising rates, which increase cap rates and compress property valuations and price-to-NAV multiples. O and NNN, as pure net lease operators, may be more sensitive than ADC's diversified portfolio.
- ADC's lower yield and beta may signal lower distribution growth: A 4.21% yield with beta below 0.5 suggests ADC's appreciation and dividend-growth profile may lag peer returns over time, particularly in inflationary environments or rising-rate cycles.
- NNN's dividend growth sustainability at scale: While 35+ consecutive years of increases is impressive, future growth rates may moderate as the REIT matures and property acquisition pipelines face market cycles.
Bottom line
If you want monthly income and a long operating history, O stands out; if you're chasing the highest current yield with proven dividend discipline, NNN leads; if you prefer lower volatility and broader property diversification over pure net lease exposure, ADC fits a different risk profile. All three have distributed real estate fundamentals, but yield differences are modest, so the choice hinges on distribution frequency preference and tolerance for single-tenant concentration.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
Still deciding? Compare them against your own portfolio
See how each real estate investment trust fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.