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.
Realty Income (O) and Agree Realty (ADC) 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 | Realty Income (O) | Agree Realty (ADC) |
|---|---|---|
| Share price | $55.51 | $65.82 |
| Market cap | $52.5B | $8.6B |
| Dividend yield | 5.88% | 4.87% |
| Annual dividend per share | $3.26† | $3.20 |
| Pays | Monthly | Monthly |
| Consecutive years of dividend increases | 25+ | 13 |
| Dividend growth per year, 2020 to 2025 | 2.9% | n/a |
| Dividend increase in 2026 (confirmed in filings) | +0.7% | +1.9% |
| Liabilities to assets | 45.1% (June 30) | 36.6% (September 30) |
| Revenue growth, latest quarter vs a year earlier | +9.7% | +16.7% |
| Price change year to date | -1.5% | -8.6% |
| Price change since Sept. 15 | -5.5% | -6.1% |
| 52-week range (closing) | $53.35 to $67.56 | $65.03 to $81.92 |
| Typical move per 0.25-point rise in the 10-year yield | -3.2% | -3.3% |
| REIT Rankings grade | A 87 | A 86 |
| Third-quarter 2026 results | Not yet filed; page updates when it is | Filed; figures above reflect the quarter ended September 30 |
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 | Realty Income |
| Longer dividend growth streak | Realty Income |
| Lower leverage | Agree Realty |
| Less sensitive to rising rates | Realty Income |
| Better price change this year | Realty Income |
| Higher REIT Rankings grade | Realty Income |
Where They Differ
Realty Income pays the higher yield, 5.88% against 4.87% for Agree Realty. Realty Income has the longer record of raising its dividend, 25+ straight years against 13. Realty Income carries more leverage, with liabilities equal to 45.1% of assets against 36.6%. This year Realty Income shares have moved -1.5% and Agree Realty shares -8.6%.
Read the full profiles for portfolio, tenant and balance sheet detail: Realty Income and Agree Realty.
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, O or ADC?
Realty Income yields 5.88% and pays $3.26 a share a year (monthly); Agree Realty yields 4.87% and pays $3.20 (monthly), as of October 19, 2026.
Which has raised its dividend longer, O or ADC?
Realty Income: 25+ consecutive years of increases; Agree Realty: 13 consecutive years of increases. Five-year dividend growth: 2.9% for Realty Income and n/a for Agree Realty.
Which has more debt, O or ADC?
On the latest balance sheets, Realty Income’s liabilities equal 45.1% of total assets and Agree Realty’s equal 36.6%. Book leverage is one measure; debt maturities and interest coverage matter too.
Which is more sensitive to interest rates, O or ADC?
Over the past year, Realty Income has typically moved -3.2% and Agree Realty -3.3% for each 0.25-point rise in the 10-year Treasury yield. Since September 15, 2026, Realty Income has moved -5.5% and Agree Realty -6.1%.
Is O or ADC 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, Realty Income scores 87 and Agree Realty scores 86, so Realty Income 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. NNN REIT · Agree Realty vs. NNN REIT · Realty Income vs. W. P. Carey · 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