Short answer: W. P. Carey (WPC) yields 5.79% and NNN REIT (NNN) yields 6.02% as of the November 13, 2026 close. W. P. Carey has the lower liabilities to assets, 53.0% against 53.2%. NNN REIT is ahead on price this year, +3.9% against +2.0%.
Data as of the November 13, 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.
W. P. Carey (WPC) and NNN REIT (NNN) are both net lease REITs, with W. P. Carey classed as Diversified Net Lease and NNN REIT as Retail Net Lease. Here is how they compare on verified numbers as of the November 13, 2026 close, from dividends and debt to rate sensitivity and returns this year.
| Measure | W. P. Carey (WPC) | NNN REIT (NNN) |
|---|---|---|
| Share price | $65.67 | $41.18 |
| Market cap | $15.1B | $8.0B |
| Dividend yield | 5.79% | 6.02% |
| Annual dividend per share | $3.80 | $2.48 |
| Pays | Quarterly | Quarterly |
| Consecutive years of dividend increases | 1 | 25+ |
| Dividend growth per year, 2020 to 2025 | -2.8% | 2.7% |
| Dividend increase in 2026 (confirmed in filings) | +3.3% | +3.3% |
| Liabilities to assets | 53.0% (September 30) | 53.2% (September 30) |
| Revenue growth, latest quarter vs a year earlier | +8.6% | +8.5% |
| Price change year to date | +2.0% | +3.9% |
| Price change since Sept. 15 | -3.9% | -4.7% |
| 52-week range (closing) | $62.57 to $76.71 | $39.05 to $49.59 |
| Typical move per 0.25-point rise in the 10-year yield | -2.6% | -2.4% |
| REIT Rankings grade | B 76 | B 79 |
| Third-quarter 2026 results | Filed; figures above reflect the quarter ended September 30 | 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.
Who Leads on Each Measure
| Measure | Leader |
|---|---|
| Higher dividend yield | NNN REIT |
| Longer dividend growth streak | NNN REIT |
| Faster five-year dividend growth | NNN REIT |
| Lower leverage | W. P. Carey |
| Less sensitive to rising rates | NNN REIT |
| Better price change this year | NNN REIT |
| Higher REIT Rankings grade | NNN REIT |
Where They Differ
NNN REIT pays the higher yield, 6.02% against 5.79% for W. P. Carey. NNN REIT has the longer record of raising its dividend, 25+ straight years against 1. This year W. P. Carey shares have moved +2.0% and NNN REIT shares +3.9%.
Read the full profiles for portfolio, tenant and balance sheet detail: W. P. Carey 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, WPC or NNN?
W. P. Carey yields 5.79% and pays $3.80 a share a year (quarterly); NNN REIT yields 6.02% and pays $2.48 (quarterly), as of November 13, 2026.
Which has raised its dividend longer, WPC or NNN?
W. P. Carey: 1 consecutive years of increases; NNN REIT: 25+ consecutive years of increases. Five-year dividend growth: -2.8% for W. P. Carey and 2.7% for NNN REIT.
Which has more debt, WPC or NNN?
On the latest balance sheets, W. P. Carey’s liabilities equal 53.0% of total assets and NNN REIT’s equal 53.2%. Book leverage is one measure; debt maturities and interest coverage matter too.
Which is more sensitive to interest rates, WPC or NNN?
Over the past year, W. P. Carey has typically moved -2.6% and NNN REIT -2.4% for each 0.25-point rise in the 10-year Treasury yield. Since September 15, 2026, W. P. Carey has moved -3.9% and NNN REIT -4.7%.
Is WPC 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, W. P. Carey scores 76 and NNN REIT scores 79, so NNN REIT 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