Net lease REITs own freestanding buildings leased to single tenants who pay the taxes, insurance, and maintenance, the closest thing to bond income the stock market offers, with rent escalations attached. This page ranks every net lease REIT we have graded under the published five-pillar methodology, with live market data. Rankings update as new profiles are completed and as quarterly results land.
| # | REIT | Grade | Yield | Market Cap | Occupancy | Credit |
|---|---|---|---|---|---|---|
| 1 | Realty Income (O) | A 87 | 5.12% | $59.0B | 98.9% | A- |
| 2 | Agree Realty (ADC) | A 86 | 4.03% | $9.4B | 99.7% | BBB+ |
| 3 | Essential Properties Realty Trust (EPRT) | B 80 | 3.98% | $6.7B | 99.7% | BBB |
| 4 | NNN REIT (NNN) | B 79 | 5.13% | $8.9B | 98.6% | BBB+ |
| 5 | W. P. Carey (WPC) | B 76 | 5.16% | $16.0B | 98.1% | BBB+ |
| 6 | Four Corners Property Trust (FCPT) | B 74 | 5.83% | $2.7B | — | BBB- |
| 7 | Getty Realty (GTY) | B 72 | 5.60% | $2.1B | — | — |
| 8 | Broadstone Net Lease (BNL) | B 71 | 5.34% | $4.2B | — | BBB |
| 9 | NETSTREIT (NTST) | B 70 | 4.05% | $2.1B | — | — |
| 10 | EPR Properties (EPR) | C 68 | 6.04% | $4.6B | — | BBB- |
Grades follow the published REIT Rankings methodology. Yields and market caps update automatically with market data.
How to Read This Ranking
A high grade is not a buy signal; it is a durability score. Dividend safety (30%) and balance sheet strength (25%) dominate the weighting because in net lease, survival of the payout through a credit cycle matters more than any single year of growth. Realty Income and Agree Realty lead on scale-plus-credit and quality-plus-balance-sheet respectively; NNN REIT trades some tenant quality for yield and coverage; W. P. Carey scores as a rebuilt, industrial-tilted diversifier still earning back its post-2023 multiple. All ten major net lease names are now graded: Essential Properties leads the growth cohort, Getty and NETSTREIT anchor the specialists, Broadstone is the value play, and EPR Properties carries the category’s highest yield and highest operating sensitivity.
The Question Behind Every Net Lease REIT
Frequently Asked Questions
What is the best net lease REIT in 2026?
By our composite grade, Realty Income (87) and Agree Realty (86) currently lead: Realty Income on scale, A- credit, and its monthly dividend record; Agree on the sector’s strongest balance sheet and highest investment-grade tenant mix. The best fit depends on whether you prioritize yield, growth, or safety.
Why do net lease REITs trade like bonds?
Long fixed leases (8 to 12+ years) with contractual escalations make their cash flows date-certain, so prices move with interest rates in the short run. Longer leases mean more rate sensitivity, which is why the sector sold off harder than most during the 2022-2023 rate shock.
Are net lease REIT dividends safe?
The four graded names all cover their dividends at 69% to 74% of AFFO with investment-grade balance sheets, among the safest payouts in real estate. The sector’s real risks are tenant credit deterioration and rate-driven multiple compression, not payout math.
Grades are research opinions under the published methodology, not investment advice. Data updates automatically several times daily.