Data as of the October 19, 2026 close. Every figure on this page is checked against at least two independent sources, or two separate SEC filings, before it is published. How we verify data.
Agree Realty (ADC) and NNN REIT (NNN) are both net lease REITs, classed as Retail Net Lease on REIT Rankings. Here is how they compare on verified numbers as of the October 19, 2026 close, from dividends and debt to rate sensitivity and returns this year.
| Measure | Agree Realty (ADC) | NNN REIT (NNN) |
|---|---|---|
| Share price | $65.82 | $40.86 |
| Market cap | $8.6B | $7.8B |
| Dividend yield | 4.87% | 6.07% |
| Annual dividend per share | $3.20 | $2.48† |
| Pays | Monthly | Quarterly |
| Consecutive years of dividend increases | 13 | 25+ |
| Dividend growth per year, 2020 to 2025 | n/a | 2.7% |
| Dividend increase in 2026 (confirmed in filings) | +1.9% | Not yet confirmed |
| Liabilities to assets | 36.6% (September 30) | 53.6% (June 30) |
| Revenue growth, latest quarter vs a year earlier | +16.7% | +7.7% |
| Price change year to date | -8.6% | +3.1% |
| Price change since Sept. 15 | -6.1% | -5.4% |
| 52-week range (closing) | $65.03 to $81.92 | $39.05 to $49.59 |
| Typical move per 0.25-point rise in the 10-year yield | -3.3% | -3.2% |
| REIT Rankings grade | A 86 | B 79 |
| Third-quarter 2026 results | Filed; figures above reflect the quarter ended September 30 | Not yet filed; page updates when it is |
A plus sign on a dividend streak means it reaches the start of our 25-year data window, so the true streak may be longer.
† The current dividend rate is above the per-share dividend in the latest 10-Q, consistent with a recent increase. The prior rate is confirmed by the filing; the new rate comes from payment records and is confirmed when the next 10-Q is filed.
Who Leads on Each Measure
| Measure | Leader |
|---|---|
| Higher dividend yield | NNN REIT |
| Longer dividend growth streak | NNN REIT |
| Lower leverage | Agree Realty |
| Less sensitive to rising rates | NNN REIT |
| Better price change this year | NNN REIT |
| Higher REIT Rankings grade | Agree Realty |
Where They Differ
NNN REIT pays the higher yield, 6.07% against 4.87% for Agree Realty. NNN REIT has the longer record of raising its dividend, 25+ straight years against 13. NNN REIT carries more leverage, with liabilities equal to 53.6% of assets against 36.6%. This year Agree Realty shares have moved -8.6% and NNN REIT shares +3.1%.
Read the full profiles for portfolio, tenant and balance sheet detail: Agree Realty and NNN REIT.
How These Numbers Are Checked
Prices, returns and 52-week ranges are computed separately from Nasdaq and Cboe records and must agree. Dividend rates are checked against the per-share dividends in each company’s latest 10-Q, growth streaks against their 10-K filings, and leverage and revenue come from the balance sheets and income statements filed with the SEC. Third-quarter results replace the latest-quarter figures as soon as each company files. How we verify data.
Frequently Asked Questions
Which pays a higher dividend, ADC or NNN?
Agree Realty yields 4.87% and pays $3.20 a share a year (monthly); NNN REIT yields 6.07% and pays $2.48 (quarterly), as of October 19, 2026.
Which has raised its dividend longer, ADC or NNN?
Agree Realty: 13 consecutive years of increases; NNN REIT: 25+ consecutive years of increases. Five-year dividend growth: n/a for Agree Realty and 2.7% for NNN REIT.
Which has more debt, ADC or NNN?
On the latest balance sheets, Agree Realty’s liabilities equal 36.6% of total assets and NNN REIT’s equal 53.6%. Book leverage is one measure; debt maturities and interest coverage matter too.
Which is more sensitive to interest rates, ADC or NNN?
Over the past year, Agree Realty has typically moved -3.3% and NNN REIT -3.2% for each 0.25-point rise in the 10-year Treasury yield. Since September 15, 2026, Agree Realty has moved -6.1% and NNN REIT -5.4%.
Is ADC or NNN the better investment?
REIT Rankings does not make buy, sell or hold calls. On our grades, which measure dividend safety, balance sheet, portfolio, growth and valuation, Agree Realty scores 86 and NNN REIT scores 79, so Agree Realty rates higher on business quality. Which suits you depends on whether you value current yield, dividend growth or lower rate risk more.
Related Pages
Best Net Lease REITs · Realty Income vs. Agree Realty · Realty Income vs. NNN REIT · Agree Realty vs. Essential Properties Realty Trust · All REIT comparisons
REIT Rankings publishes data and grades, not investment advice. Nothing on this page is a recommendation to buy, sell or hold any security. Do your own research or consult a licensed advisor.
Why buy the REIT when you can own the asset?
Net lease REITs typically yield 4.5% to 6.5%. Direct ownership of a single-tenant NNN property leased to the same investment-grade tenants historically trades at 6% to 7.5% cap rates, plus depreciation benefits and 1031 exchange eligibility that REIT shareholders never receive. For investors with $1 million or more, the after-tax gap is large.
See the $2M After-Tax Comparison