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.
Updated October 16, 2026
How these figures are calculated: methodology.
Best for
- ADCInvestors who want real-estate income and inflation sensitivity.
- OInvestors who want higher current income (5.81% vs 4.85% 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
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
ADC has lagged O over the trailing twelve months, posting a -6.15% total return against -0.20%. The picture flips over 10 years, though — ADC has compounded at 7.98% a year, ahead of O at 4.19%. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | 3Y annualized | 5Y annualized | 10Y annualized | Since Oct 1994 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|---|
| ADC | -3.90% | -6.15% | 11.08% | 3.69% | 7.98% | 11.97% | 17.6% | 0.36 | 0.52 | -18.9% |
| O | 3.49% | -0.20% | 9.29% | 1.50% | 4.19% | 13.05% | 18.1% | 0.26 | 0.36 | -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 October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Oct 1994” measures every fund from October 18, 1994 — the start of shared available history — 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 | $67.04 as of October 16, 2026 | $56.08 as of October 16, 2026 |
| Distribution rate | 4.85% | 5.81% |
| Trailing 12-month yield | 4.73% | 5.79% |
| Distribution Safety Score™ | 91 | 95 |
| Safety-Adjusted Yield | 4.41% | 5.52% |
| 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 | 0.424 | 0.696 |
| Last dividend | $0.271 declared, pays 11/13/2026 | $0.2715 declared, pays 11/13/2026 |
| Ex-dividend date | 10/30/2026 upcoming | 10/30/2026 upcoming |
Bottom lineChoose ADC if you want real-estate income and inflation sensitivity. Choose O if you want higher current income (5.81% vs 4.85% for ADC).
Income calculator
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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 5.81% vs 4.85% 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 0.4 vs 0.7 for O.
Choose O
Realty Income Corporation
- Want higher current income — O yields 5.81% vs 4.85% 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 $40.42 cash per distribution, while O would produce $48.42 cash per distribution, 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 0.424 for ADC and 0.696 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 rate for ADC and O?
ADC currently distributes 4.85% and O 5.81%, based on fund data updated October 2026. Distribution rate 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 95, ADC scores 91, so O's payout currently looks the more resilient of the two. ADC has also shown lower price volatility (beta 0.42 vs 0.70 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 $40.42 cash per distribution ($485.00 annually). The same in O would produce about $48.42 cash per distribution ($581.00 annually).
Which has performed better historically, ADC or O?
ADC has lagged O over the trailing twelve months, posting a -6.15% total return against -0.20%. The picture flips over 10 years, though — ADC has compounded at 7.98% a year, ahead of O at 4.19%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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Dividend dates and history
ADC vs O — at a glance
Generated October 17, 2026.
Realty Income operates a pure net-lease model—single-tenant freestanding commercial properties where tenants bear most operating costs—while Agree Realty runs a diversified real estate portfolio. Both pay monthly distributions, but O offers a higher yield and a longer operating history dating to 1994.
How they differ
The biggest distinction is tenant concentration and lease structure. O focuses exclusively on net-lease single-tenant properties, which typically pass occupancy and maintenance risk to tenants; ADC operates a diversified REIT with a broader property mix. O's distribution rate of 5.81% substantially exceeds ADC's 4.85%, a spread of roughly 96 basis points. Beta also diverges sharply: ADC trades at 0.424, reflecting lower volatility relative to the broader market, while O's 0.696 suggests more pronounced price swings. Both REITs distribute monthly, but O carries the credibility of a 30-year track record explicitly marketed as "The Monthly Dividend Company" with a documented history of consistent growth; ADC lacks that historical tenure data for comparison.
Who each is best for
ADC: Fits investors seeking lower price volatility in a real estate holding—the beta of 0.424 appeals to those uncomfortable with the gyrations that come with higher-leverage or more cyclical commercial real estate strategies, even if that stability trades off some yield.
O: Designed for income-focused investors who prioritize yield above stability and who value transparency and longevity. The 30-year dividend track record and explicit "monthly dividend" brand identity suit those who want a REIT with demonstrated, documented consistency in payout discipline.
Key risks to know
- Net-lease concentration (O specific): Single-tenant net-lease portfolios depend heavily on tenant credit quality and lease renewals. If large tenants fail or decline to renew, revenue concentration risk spikes; diversified portfolios like ADC's spread that risk more broadly but may lack O's lease-agreement clarity.
- Distribution sustainability at elevated yields: O's 5.81% yield is substantially higher than ADC's 4.85%.
- Interest-rate and refinancing risk: Both REITs carry debt and refinancing exposure. Rising rates compress property valuations and increase borrowing costs; ADC's lower beta may reflect less leverage, but both carry structural sensitivity to the rate environment.
- Tenant tenant economic cycles: Commercial real estate tenant health tracks broader economic cycles. Recession or retail weakness could stress both portfolios, though single-tenant net leases (O) may offer more contractual protection than diversified holdings (ADC).
Bottom line
If you want lower volatility and diversified real estate exposure, ADC's 0.424 beta and broader portfolio stand out. If you prioritize yield and are comfortable with net-lease mechanics and a single-tenant model, O's 5.81% payout and 30-year dividend history suggest a tighter alignment with high-income strategies. Past performance does not predict future results, and both REITs' valuations and yields depend on sustained commercial real estate fundamentals and refinancing conditions.
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.
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These comparisons follow the Dividend Vision methodology.