REIT Comparison
ADC vs O: Which Is the Better Pick in 2026?
A head-to-head comparison of Agree Realty and Realty Income Corporation covering yield, cost, risk, and income potential.
Data updated September 4, 2026
Best for
- ADCInvestors who want real-estate income and inflation sensitivity.
- OInvestors who want higher current income (5.31% vs 4.41% for ADC).
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
ADC has lagged O over the trailing twelve months, posting a 5.01% total return against 10.98%. The picture flips over 10 years, though — ADC has compounded at 8.47% a year, ahead of O at 4.22%. 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 | 3.18% | 5.01% | 11.17% | 3.76% | 8.47% | 12.27% | 17.8% | 0.34 | 0.50 | -13.0% |
| O | 10.15% | 10.98% | 9.26% | 2.42% | 4.22% | 13.38% | 18.2% | 0.24 | 0.34 | -19.3% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer 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.
Side-by-side snapshot
| Metric |  ADC |  O |
|---|---|---|
| Full name | Agree Realty | Realty Income Corporation |
| Issuer | Agree Realty | Realty Income |
| Last Close | $72.62 as of September 4, 2026 | $61.25 as of September 4, 2026 |
| Distribution yield | 4.41% | 5.31% |
| Distribution Safety Score™ | 94 | 100 |
| Safety-Adjusted Yield | 4.15% | 5.31% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Monthly | Monthly |
| Underlying index | — | — |
| Objective | A real estate investment trust focused on income-producing properties. | 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 |
| Inception date | N/A | N/A |
| Beta | 0.468 | 0.72 |
| Last dividend | $0.267 declared, pays 09/15/2026 | $0.271 declared, pays 09/15/2026 |
| Ex-dividend date | 08/31/2026 | 08/31/2026 |
Bottom lineChoose ADC if you want real-estate income and inflation sensitivity. Choose O if you want higher current income (5.31% vs 4.41% for ADC).
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Quick verdict
ADC (Agree Realty) and O (Realty Income Corporation) are both monthly-pay dividend-paying real estate investment trusts (REITs), but they take different approaches.
O offers the higher yield at 5.31% vs 4.41% for ADC. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Who should choose each?
Choose ADC
Agree Realty
- Want real-estate exposure for income and inflation sensitivity.
- Prefer lower volatility — a beta of 0.5 vs 0.7 for O.
Choose O
Realty Income Corporation
- Want higher current income — O yields 5.31% vs 4.41% for ADC.
- Want real-estate exposure for income and inflation sensitivity.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
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Deep dive
Yield & income
On a $10,000 investment, ADC would generate roughly $36.75/month, while O would produce $44.25/month, at current distribution rates. Both pay monthly distributions.
Strategy & risk
ADC is a real estate investment trust built around diversified REIT exposure, while O is a real estate investment trust built around net lease REIT exposure. Beta is 0.468 for ADC and 0.72 for O, making ADC the less volatile of the two by this measure.
Security details
ADC (Agree Realty) is a real estate investment trust. O (Realty Income Corporation) is a real estate investment trust.
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Frequently asked questions
What is the current distribution yield for ADC and O?
ADC currently distributes 4.41% and O 5.31%, based on fund data updated September 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is ADC or O better for dividend income?
It depends on your goals. O currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between ADC and O?
ADC (Agree Realty) is a real estate investment trust built around diversified REIT exposure, while O (Realty Income Corporation) is a real estate investment trust built around net lease REIT exposure. They are issued by Agree Realty and Realty Income respectively.
Can I hold both ADC and O?
Yes — nothing prevents holding both. 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.
Is ADC or O safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — O scores 100, ADC scores 94, so O's payout currently looks the more resilient of the two. ADC has also shown lower price volatility (beta 0.47 vs 0.72 for O). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
How much income does $10,000 in ADC vs O generate?
At current rates, $10,000 in ADC would generate roughly $36.75 per month ($441.00 annually). The same in O would produce about $44.25 per month ($531.00 annually).
Which has performed better historically, ADC or O?
ADC has lagged O over the trailing twelve months, posting a 5.01% total return against 10.98%. The picture flips over 10 years, though — ADC has compounded at 8.47% a year, ahead of O at 4.22%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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ADC vs O — at a glance
Generated August 30, 2026.
Overview
ADC and O are both monthly-paying real estate investment trusts focused on commercial properties, but they differ fundamentally in their underlying real estate strategy. ADC is a diversified REIT investing across property types, while O specializes exclusively in single-tenant, freestanding properties leased long-term to individual operators—a narrower but historically stable niche. Both target income-focused investors, but their risk profiles and yield structures diverge meaningfully.
How they differ
The biggest difference is property type and tenant concentration. O owns only freestanding, single-tenant net lease properties, meaning each property is leased to one operator with that tenant responsible for maintenance, taxes, and insurance. ADC holds a diversified mix of property types and tenant arrangements, which spreads risk across different sectors and lease structures but may be less predictable tenant-by-tenant. Second, O carries a higher distribution rate at 5.31% compared to ADC's 4.41%, reflecting tighter net lease economics and longer-duration lease agreements. Third, O has a beta of 0.72 versus ADC's 0.468, indicating that ADC is less volatile relative to the broader market—a function of its more varied real estate exposure versus O's concentrated net lease model.
Who each is best for
ADC: Fits investors seeking diversified commercial real estate exposure with lower volatility, who are comfortable trading some yield for the stability of a mixed-property portfolio and who prioritize capital preservation over maximum income.
O: Designed for income-focused investors attracted to the predictability of single-tenant net lease agreements and willing to accept higher market sensitivity in exchange for a meaningfully higher monthly payment and a REIT with three decades of consistent dividend growth.
Key risks to know
- Tenant concentration risk in O: Net lease REITs depend on individual tenants remaining solvent and renewing leases. A wave of bankruptcies among O's small-business tenants (which can occur during economic downturns) could force lease renegotiations or vacancies.
- ADC property-type mix: Diversification cuts both ways—while it spreads concentration risk, it also means ADC's properties may include higher-cap-rate, lower-stability asset classes with more lease roll-over frequency and tenant-replacement risk than O's freestanding, single-operator focus.
- Net lease lease-renewal risk: O's model depends on tenants renewing long-term leases at similar economic terms. If renewals compress or tenants defect, rent growth could lag inflation, pressuring distribution sustainability.
- Interest rate sensitivity: Both REITs carry equity-like duration; rising rates pressure cap rates and valuations. O's longer lease terms and lower beta suggest somewhat less sensitivity, but neither is insulated from broad rate shocks.
Bottom line
If you prioritize yield and embrace the economics of single-tenant net lease properties, O's 5.31% distribution and longer track record may stand out. If you prefer lower volatility and diversification across property types, ADC offers a 4.41% yield with a beta less than two-thirds of O's. Past performance in net lease or diversified REIT strategies doesn't predict future returns—both merit investigation of tenant quality, lease roll schedules, and portfolio composition before committing capital.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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The metrics behind this comparison, explained in the Academy.
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