REIT Comparison
EPRT vs O: Which Is the Better Pick in 2026?
A head-to-head comparison of Essential Properties Realty Trust and Realty Income Corporation covering yield, cost, risk, and income potential.
Updated October 2, 2026
How these figures are calculated: methodology.
Best for
- EPRTInvestors who want real-estate income and inflation sensitivity.
- OInvestors who want higher current income (6.03% vs 4.94% for EPRT).
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.
EPRT has lagged O over the trailing twelve months, posting a -9.64% total return against -5.54%. The picture flips over 5 years, though — EPRT has compounded at 2.51% a year, ahead of O at 1.92%. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | 3Y annualized | 5Y annualized | Since Jun 2018 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|
| EPRT | -10.96% | -9.64% | 11.44% | 2.51% | 13.05% | 20.5% | 0.31 | 0.45 | -23.5% |
| O | -1.74% | -5.54% | 9.28% | 1.92% | 5.48% | 18.1% | 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 October 2, 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 Jun 2018” measures every fund from June 22, 2018 — 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 |  EPRT |  O |
|---|---|---|
| Full name | Essential Properties Realty Trust | Realty Income Corporation |
| Issuer | Essential Properties Realty Trust | Realty Income |
| Last Close | $25.90 as of October 2, 2026 | $54.13 as of October 2, 2026 |
| Distribution rate | 4.94% | 6.03% |
| Trailing 12-month yield | 4.86% | 6.00% |
| Distribution Safety Score™ | 100 | 100 |
| Safety-Adjusted Yield | 4.94% | 6.03% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Quarterly | Monthly |
| Underlying index | — | — |
| Objective | A real estate investment trust focused on acquiring, owning, and managing single-tenant net lease commercial properties. EPRT targets service-oriented and experience-based tenants with unit-level profitability data to support underwriting decisions. | 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 | 0.872 | 0.712 |
| Last dividend | $0.32 declared, pays 10/14/2026 | $0.272 declared, pays 10/15/2026 |
| Ex-dividend date | 09/30/2026 | 09/30/2026 |
Bottom lineChoose EPRT if you want real-estate income and inflation sensitivity. Choose O if you want higher current income (6.03% vs 4.94% for EPRT).
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Quick verdict
EPRT (Essential Properties Realty Trust) and O (Realty Income Corporation) are both dividend-paying real estate investment trusts (REITs), but they take different approaches.
O offers the higher yield at 6.03% vs 4.94% for EPRT. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
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Deep dive
Yield & income
On a $10,000 investment, EPRT would generate roughly $123.50 cash per distribution, while O would produce $50.25 cash per distribution, at current distribution rates.
Strategy & risk
EPRT is a real estate investment trust built around net lease REIT exposure, while O is a real estate investment trust built around net lease REIT exposure. Beta is 0.872 for EPRT and 0.712 for O, making O the less volatile of the two by this measure.
Security details
EPRT (Essential Properties Realty Trust) 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 EPRT and O?
EPRT currently distributes 4.94% and O 6.03%, 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 EPRT 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 EPRT and O?
EPRT (Essential Properties Realty Trust) is a real estate investment trust built around net lease REIT exposure, while O (Realty Income Corporation) is a real estate investment trust built around net lease REIT exposure. They are issued by Essential Properties Realty Trust and Realty Income respectively.
Can I hold both EPRT 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 EPRT 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 — they are effectively tied: EPRT scores 100, O scores 100. Neither has a clear safety edge on that measure. O has also shown lower price volatility (beta 0.71 vs 0.87 for EPRT). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
How much income does $10,000 in EPRT vs O generate?
At current rates, $10,000 in EPRT would generate roughly $123.50 cash per distribution ($494.00 annually). The same in O would produce about $50.25 cash per distribution ($603.00 annually).
Which has performed better historically, EPRT or O?
EPRT has lagged O over the trailing twelve months, posting a -9.64% total return against -5.54%. The picture flips over 5 years, though — EPRT has compounded at 2.51% a year, ahead of O at 1.92%. 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
EPRT vs O — at a glance
Generated October 3, 2026.
The key difference is distribution cadence and scale: Realty Income is the larger, older operator with a monthly dividend and a higher yield, while Essential Properties pays quarterly and targets unit-level profitability metrics in its tenant underwriting. EPRT trades at $25.90 per share; O trades at $54.13, reflecting the difference in distribution yield and investor base size.
Who each is best for
- EPRT: Fits investors seeking quarterly income distribution timing who are comfortable with a smaller REIT's operational track record and are drawn to properties backing unit-level business models—restaurants, fitness, salons—rather than broad-based retail or industrial diversification.
- O: Fits investors who prioritize monthly income frequency, a multi-decade dividend history with consistent growth, and exposure to a larger, more seasoned net lease operator with established tenant relationships and geographic breadth.
Key risks to know
- Lease renewal and tenant credit risk. Both REITs depend on tenants renewing leases and paying rent. Recession or operational stress on service-based tenants (especially for EPRT, given its focus on experience-driven businesses) could trigger defaults or reduce renewal likelihood, pressuring cash flow.
- Interest rate sensitivity. REITs are sensitive to rising rates, which increase the discount rate applied to future cash flows and can depress REIT valuations. Realty Income's lower beta suggests it has shown somewhat lower sensitivity historically, but both are exposed to this structural headwind.
- NAV and price volatility in secondary markets. Neither REIT is a bond; share prices fluctuate. While both pay distributions, they do not insulate the principal from drawdowns if market sentiment shifts toward real estate or rising rates.
Bottom line
If you want monthly income and rely on a proven, multi-decade REIT operator, Realty Income stands out at 6.03%. If you prefer quarterly payouts and are comfortable with EPRT's more targeted tenant underwriting at 4.94%, the smaller portfolio may offer a different risk-return tradeoff. Both carry interest-rate and tenant-credit exposure inherent to net lease real estate; past performance does not predict future results.
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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These comparisons follow the Dividend Vision methodology.