Which REIT is larger?

Realty Income is substantially larger than National Retail Properties, with a much bigger, more diversified property portfolio including international properties.

What types of tenants does National Retail Properties focus on?

National Retail Properties has historically focused on convenience stores, restaurants, automotive service, and other resilient retail subcategories that tend to perform well across economic cycles.

Which has expanded internationally?

Realty Income has expanded into international markets, particularly Europe, while National Retail Properties remains focused primarily on the U.S. market.

Data as of: June 16, 2026

brimindinvest.com / compare / nnn-vs-oLIVE

NNN

National Retail Properties, Inc. · Real Estate - Net Lease REIT

N/A

N/A this month

VERSUS

COMPARE

O

Realty Income Corporation · Real Estate - Net Lease REIT

N/A

N/A this month

Comparison scoreboard

MIXED SETUP

AI Scorei

NNN N/A

O N/A

1Y Returni

NNN N/A

O N/A

Fwd P/Ei

NNN N/A

O N/A

Target Up.i

NNN N/A

O N/A

Op. Margini

NNN N/A

O N/A

Quick take

NNN vs O Stock Comparison: AI Score, Valuation, Performance and Upside

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NNN and O are both long-established net lease REITs with exceptional dividend growth track records, with NNN being smaller and more concentrated in specific retail subcategories like convenience stores, while O is much larger, more diversified, and has expanded internationally. Both are considered among the most reliable dividend growth REITs in the sector.

NNN vs O compares two of the net lease REIT sector's most consistent dividend growers, contrasting National Retail Properties' smaller, more focused portfolio against Realty Income's larger, more diversified global scale.

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O Report

Normalized 1Y performance

NNN

O

Not enough data to chart yet.

Recent returns

NNN

O

Not enough data to chart yet.

Analyst price targets & sentiment

Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.

NNN

Price target data unavailable

N/A

O

Price target data unavailable

N/A

Who should consider this stock?

NNN may suit investors who:

Want exposure to one of the REIT sector's longest dividend increase streaks
Value a conservative, disciplined underwriting approach
Prefer a more concentrated focus on resilient retail subcategories

O may suit investors who:

Want exposure to the largest, most diversified net lease REIT
Value Realty Income's exceptional monthly dividend track record
Prefer broader diversification across property types and geographies

Performance & AI score

Performance & AI score
Metric	NNN	O
AI scorei	N/A	N/A
AI ranki	N/A	N/A
Latest closei	N/A	N/A
1M returni	N/A	N/A
6M returni	N/A	N/A
1Y returni	N/A	N/A

Valuation & upside potential

Valuation & upside potential
Metric	NNN	O
Market capi	N/A	N/A
Trailing P/Ei	N/A	N/A
Forward P/Ei	N/A	N/A
Price/Salesi	N/A	N/A
EV/Revenuei	N/A	N/A
Analyst targeti	N/A	N/A
Target upsidei	N/A	N/A

Full DCF model for O

Growth, profitability & risk

Growth, profitability & risk
Metric	NNN	O
Revenue growthi	N/A	N/A
Earnings growthi	N/A	N/A
EPS growthi	N/A	N/A
FCF margini	N/A	N/A
Operating margini	N/A	N/A
Profit margini	N/A	N/A
ROIC proxyi	N/A	N/A
Return on equityi	N/A	N/A
Dividend yieldi	N/A	N/A
Payout ratioi	N/A	N/A
Dividend growth streaki	N/A	N/A
Betai	N/A	N/A
Debt/equityi	N/A	N/A
Current ratioi	N/A	N/A
Quick ratioi	N/A	N/A

Drawdown & downside risk

Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.

1Y risk snapshot

NNN max drawdowniN/A

O max drawdowniN/A

NNN max wkly dropiN/A

O max wkly dropiN/A

5Y risk snapshot

NNN max drawdowniN/A

O max drawdowniN/A

NNN max wkly dropiN/A

O max wkly dropiN/A

10Y risk snapshot

NNN max drawdowniN/A

O max drawdowniN/A

NNN max wkly dropiN/A

O max wkly dropiN/A

Performance metrics by period

Performance metrics by period
Period	Metric	NNN	O
1Y	Growthi	N/A	N/A
	CAGRi	N/A	N/A
	Volatilityi	N/A	N/A
	Sharpe ratioi	N/A	N/A
	Sortino ratioi	N/A	N/A
	Max drawdowni	N/A	N/A
	Current drawdowni	N/A	N/A
	Avg drawdowni	N/A	N/A
	Ulcer Indexi	N/A	N/A
	Max daily dropi	N/A	N/A
	Max wkly dropi	N/A	N/A
5Y	Growthi	N/A	N/A
	CAGRi	N/A	N/A
	Volatilityi	N/A	N/A
	Sharpe ratioi	N/A	N/A
	Sortino ratioi	N/A	N/A
	Max drawdowni	N/A	N/A
	Current drawdowni	N/A	N/A
	Avg drawdowni	N/A	N/A
	Ulcer Indexi	N/A	N/A
	Max daily dropi	N/A	N/A
	Max wkly dropi	N/A	N/A
10Y	Growthi	N/A	N/A
	CAGRi	N/A	N/A
	Volatilityi	N/A	N/A
	Sharpe ratioi	N/A	N/A
	Sortino ratioi	N/A	N/A
	Max drawdowni	N/A	N/A
	Current drawdowni	N/A	N/A
	Avg drawdowni	N/A	N/A
	Ulcer Indexi	N/A	N/A
	Max daily dropi	N/A	N/A
	Max wkly dropi	N/A	N/A

AI Prediction Signali

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Next 5 trading days

NNN

+2.8%BUY

+1.1%HOLD

Next 30 trading days

NNN

+6.4%BUY

+3.2%HOLD

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Business comparison

Business comparison
Category	NNN	O
Company	National Retail Properties, Inc.	Realty Income Corporation
Sector	Real Estate - Net Lease REIT	Real Estate - Net Lease REIT
Industry	N/A	N/A
Core business	National Retail Properties is a net lease REIT focused on single-tenant retail properties, primarily in convenience stores, restaurants, and automotive service categories, leased under long-term net leases.	Realty Income is a large-cap net lease REIT, known as 'The Monthly Dividend Company,' owning thousands of single-tenant retail and industrial properties leased to mostly investment-grade tenants under long-term net leases.
Investor focus	Investors track National Retail Properties' long dividend increase streak (one of the longest in the REIT sector), acquisition cap rates, and tenant diversification across retail subcategories.	Investors track Realty Income's monthly dividend growth streak, acquisition volume and cap rates, and tenant credit quality and diversification across its massive property portfolio.

NNN strengths

One of the longest consecutive annual dividend increase streaks in the entire REIT sector
Conservative balance sheet and disciplined underwriting approach
Diversified across resilient retail subcategories like convenience and automotive services

O strengths

Massive scale and diversification across thousands of properties and tenants
Long, consistent track record of monthly dividend payments and annual increases
Investment-grade balance sheet provides low-cost access to capital for acquisitions

Risks to watch — NNN

Smaller scale than Realty Income limits some diversification and capital cost advantages
Retail-concentrated portfolio carries some exposure to e-commerce disruption in certain subcategories
Slower growth profile than some smaller, faster-growing net lease peers

Risks to watch — O

Large scale can make it harder to find acquisitions that meaningfully move growth
Interest rate sensitivity affects both valuation and cost of capital for acquisitions
Increasing international expansion into Europe introduces some currency and market risk

Frequently asked questions

Both National Retail Properties and Realty Income have exceptionally long consecutive annual dividend increase streaks, among the longest of any REIT, reflecting decades of resilient net lease cash flow.

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