Comprehensive Stock Comparison
Compare Agree Realty Corporation (ADC) vs Realty Income Corporation (O) vs NNN REIT, Inc. (NNN) vs Four Corners Property Trust, Inc. (FCPT) vs Getty Realty Corp. (GTY) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ADC | 16.4% revenue growth vs NNN's 6.6% |
| Value | NNN | Lower P/E (22.2x vs 24.2x) |
| Quality / Margins | NNN | 42.1% net margin vs O's 18.4% |
| Stability / Safety | ADC | Beta 0.06 vs NNN's 0.25 |
| Dividends | ADC | 0.1% yield; O, NNN, FCPT, GTY pay no meaningful dividend |
| Momentum (1Y) | O | +23.6% vs FCPT's -6.3% |
| Efficiency (ROA) | NNN | 4.2% ROA vs O's 1.5%, ROIC 6.7% vs 2.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Agree Realty Corporation is a retail-focused real estate investment trust that acquires and develops single-tenant properties leased to national retail tenants. It generates revenue primarily through long-term net leases — where tenants pay most property expenses — with its portfolio heavily weighted toward investment-grade tenants like Walmart, Dollar General, and Tractor Supply. The company's competitive advantage lies in its disciplined acquisition strategy focused on recession-resistant retail sectors and its relationships with creditworthy tenants that provide stable, predictable cash flows.
Realty Income is a real estate investment trust that owns and leases single-tenant commercial properties to retail and service-oriented businesses. It generates revenue primarily through long-term triple-net leases—where tenants pay rent plus property expenses—with retail clients like convenience stores and drugstores accounting for roughly 80% of its portfolio. The company's moat lies in its massive scale, diversified tenant base, and long-term lease structure that provides predictable monthly cash flow supporting its famous monthly dividend payments.
NNN REIT is a real estate investment trust that owns and operates a diversified portfolio of single-tenant retail properties across the United States. It generates revenue primarily through long-term net leases — collecting predictable rental income from tenants who cover most property expenses — with convenience stores, restaurants, and automotive service centers representing its largest tenant categories. The company's competitive advantage lies in its disciplined property selection, long-term lease structures averaging over 10 years, and diversified tenant base that provides stable cash flow through economic cycles.
Four Corners Property Trust is a real estate investment trust that acquires and leases single-tenant restaurant properties to established operators. It generates revenue primarily through long-term net leases — with over 90% of its portfolio in restaurant properties — collecting predictable rental income from tenants who cover most property expenses. The company's competitive advantage lies in its specialized focus on restaurant real estate and its portfolio of properties leased to creditworthy national brands with strong unit economics.
Getty Realty Corp. is a real estate investment trust that owns and leases convenience store and gasoline station properties across the United States. It generates revenue primarily through long-term triple-net leases—where tenants pay rent plus property expenses—with convenience store operators and fuel retailers. The company's competitive advantage lies in its specialized portfolio of essential retail properties with high traffic locations and long-term leases to creditworthy tenants.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Segment breakdown not available.
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
ADC leads in 3 of 6 categories (Valuation Metrics, Total Returns). NNN leads in 2 (Financial Metrics, Profitability & Efficiency).
Financial Metrics (TTM)
O is the larger business by revenue, generating $5.7B annually — 26.8x GTY's $214M. NNN is the more profitable business, keeping 42.1% of every revenue dollar as net income compared to O's 18.4%. On growth, ADC holds the edge at +18.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ADCAgree Realty Corp… | ORealty Income Cor… | NNNNNN REIT, Inc. | FCPTFour Corners Prop… | GTYGetty Realty Corp. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $689M | $5.7B | $926M | $294M | $214M |
| EBITDAEarnings before interest/tax | $581M | $4.1B | $856M | $224M | $182M |
| Net IncomeAfter-tax profit | $190M | $1.1B | $390M | $112M | $74M |
| Free Cash FlowCash after capex | $484M | $2.8B | $541M | $144M | $129M |
| Gross MarginGross profit ÷ Revenue | +89.0% | +89.8% | +96.0% | +95.4% | +88.3% |
| Operating MarginEBIT ÷ Revenue | +46.9% | +28.3% | +63.6% | +55.7% | +55.4% |
| Net MarginNet income ÷ Revenue | +27.6% | +18.4% | +42.1% | +38.2% | +34.8% |
| FCF MarginFCF ÷ Revenue | +70.3% | +48.5% | +58.4% | +49.0% | +60.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.7% | +11.0% | +9.1% | +10.7% | +8.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +7.1% | +39.1% | -1.9% | +3.7% | +48.1% |
Valuation Metrics
At 21.9x trailing earnings, NNN trades at a 62% valuation discount to O's 57.3x P/E. Adjusting for growth (PEG ratio), NNN offers better value at 1.96x vs ADC's 120.54x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ADCAgree Realty Corp… | ORealty Income Cor… | NNNNNN REIT, Inc. | FCPTFour Corners Prop… | GTYGetty Realty Corp. |
|---|---|---|---|---|---|
| Market CapShares × price | $236M | $62.6B | $8.6B | $2.8B | $1.9B |
| Enterprise ValueMkt cap + debt − cash | $3.2B | $62.1B | $8.6B | $4.0B | $2.9B |
| Trailing P/EPrice ÷ TTM EPS | 45.47x | 57.27x | 21.89x | 23.41x | 23.44x |
| Forward P/EPrice ÷ next-FY EPS est. | 41.29x | 41.80x | 22.16x | 21.74x | 24.20x |
| PEG RatioP/E ÷ EPS growth rate | 120.54x | 80.25x | 1.96x | 117.82x | — |
| EV / EBITDAEnterprise value multiple | 5.46x | 15.16x | 10.03x | 17.62x | 15.80x |
| Price / SalesMarket cap ÷ Revenue | 0.33x | 10.88x | 9.29x | 9.39x | 8.55x |
| Price / BookPrice ÷ Book value/share | 1.43x | 1.51x | 1.93x | 1.61x | 1.73x |
| Price / FCFMarket cap ÷ FCF | 0.47x | 15.66x | 12.90x | 14.36x | 14.92x |
Profitability & Efficiency
NNN delivers a 8.8% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $3 for O. ADC carries lower financial leverage with a 0.47x debt-to-equity ratio, signaling a more conservative balance sheet compared to GTY's 0.95x. On the Piotroski fundamental quality scale (0–9), ADC scores 6/9 vs GTY's 4/9, reflecting solid financial health.
| Metric | ADCAgree Realty Corp… | ORealty Income Cor… | NNNNNN REIT, Inc. | FCPTFour Corners Prop… | GTYGetty Realty Corp. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +3.2% | +2.6% | +8.8% | +6.9% | +7.4% |
| ROA (TTM)Return on assets | +2.0% | +1.5% | +4.2% | +3.8% | +3.6% |
| ROICReturn on invested capital | +2.9% | +2.3% | +6.7% | +4.5% | +4.6% |
| ROCEReturn on capital employed | +4.5% | +2.3% | +6.5% | +5.9% | +5.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 | 4 | 6 | 4 |
| Debt / EquityFinancial leverage | 0.47x | — | — | 0.74x | 0.95x |
| Net DebtTotal debt minus cash | $2.9B | -$435M | -$5M | $1.2B | $1.0B |
| Cash & Equiv.Liquid assets | $16M | $435M | $5M | $12M | $13M |
| Total DebtShort + long-term debt | $2.9B | $0 | $0 | $1.2B | $1.0B |
| Interest CoverageEBIT ÷ Interest expense | — | — | 2.89x | 3.16x | 2.63x |
Total Returns (with DRIP)
A $10,000 investment in ADC five years ago would be worth $14,667 today (with dividends reinvested), compared to $11,868 for FCPT. Over the past 12 months, O leads with a +23.6% total return vs FCPT's -6.3%. The 3-year compound annual growth rate (CAGR) favors ADC at 8.1% vs FCPT's 3.0% — a key indicator of consistent wealth creation.
| Metric | ADCAgree Realty Corp… | ORealty Income Cor… | NNNNNN REIT, Inc. | FCPTFour Corners Prop… | GTYGetty Realty Corp. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +12.3% | +17.9% | +16.2% | +9.8% | +19.1% |
| 1-Year ReturnPast 12 months | +13.6% | +23.6% | +12.4% | -6.3% | +10.6% |
| 3-Year ReturnCumulative with dividends | +26.5% | +19.9% | +15.3% | +9.4% | +11.5% |
| 5-Year ReturnCumulative with dividends | +46.7% | +40.3% | +29.8% | +18.7% | +45.7% |
| 10-Year ReturnCumulative with dividends | +186.6% | +67.6% | +50.8% | +130.4% | +163.5% |
| CAGR (3Y)Annualised 3-year return | +8.1% | +6.3% | +4.9% | +3.0% | +3.7% |
Risk & Volatility
ADC is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than NNN's 0.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ADC currently trades 99.1% from its 52-week high vs FCPT's 85.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ADCAgree Realty Corp… | ORealty Income Cor… | NNNNNN REIT, Inc. | FCPTFour Corners Prop… | GTYGetty Realty Corp. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.06x | 0.19x | 0.25x | 0.22x | 0.15x |
| 52-Week HighHighest price in past year | $81.17 | $67.94 | $45.83 | $29.81 | $33.54 |
| 52-Week LowLowest price in past year | $68.98 | $50.71 | $35.80 | $22.78 | $25.39 |
| % of 52W HighCurrent price vs 52-week peak | +99.1% | +98.6% | +98.9% | +85.6% | +97.9% |
| RSI (14)Momentum oscillator 0–100 | 70.6 | 70.7 | 69.0 | 64.8 | 65.1 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 5.4M | 1.3M | 791K | 434K |
Analyst Outlook
Analyst consensus: ADC as "Buy", O as "Hold", NNN as "Hold", FCPT as "Hold", GTY as "Buy". Consensus price targets imply 5.8% upside for FCPT (target: $27) vs -5.4% for O (target: $63).
| Metric | ADCAgree Realty Corp… | ORealty Income Cor… | NNNNNN REIT, Inc. | FCPTFour Corners Prop… | GTYGetty Realty Corp. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Hold | Hold | Buy |
| Price TargetConsensus 12-month target | $81.06 | $63.38 | $44.93 | $27.00 | $33.00 |
| # AnalystsCovering analysts | 32 | 33 | 29 | 14 | 13 |
| Dividend YieldAnnual dividend ÷ price | +0.1% | — | — | — | — |
| Dividend StreakConsecutive years of raises | 0 | 27 | 8 | 7 | 7 |
| Dividend / ShareAnnual DPS | $0.07 | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.6% | 0.0% | 0.0% | 0.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 100 | 95.54 | -4.5% |
| Realty Income Corpo… (O) | 100 | 83.35 | -16.6% |
| NNN REIT, Inc. (NNN) | 100 | 79.1 | -20.9% |
| Four Corners Proper… (FCPT) | 100 | 82.97 | -17.0% |
| Getty Realty Corp. (GTY) | 100 | 102.31 | +2.3% |
Agree Realty Corpor… (ADC) returned +47% over 5 years vs Four Corners Proper… (FCPT)'s +19%. A $10,000 investment in ADC 5 years ago would be worth $14,667 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | $92M | $718M | +684.9% |
| Realty Income Corpo… (O) | $1.1B | $5.7B | +421.2% |
| NNN REIT, Inc. (NNN) | $534M | $926M | +73.6% |
| Four Corners Proper… (FCPT) | $124M | $294M | +137.2% |
| Getty Realty Corp. (GTY) | $115M | $222M | +92.4% |
Agree Realty Corporation's revenue grew from $92M (2016) to $718M (2025) — a 25.7% CAGR. Realty Income Corporation's revenue grew from $1.1B (2016) to $5.7B (2025) — a 20.1% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 49.3% | 27.4% | -44.4% |
| Realty Income Corpo… (O) | 28.6% | 18.4% | -35.6% |
| NNN REIT, Inc. (NNN) | 44.9% | 42.1% | -6.2% |
| Four Corners Proper… (FCPT) | 126.4% | 38.2% | -69.8% |
| Getty Realty Corp. (GTY) | 33.3% | 35.7% | +7.2% |
Agree Realty Corporation's net margin went from 49% (2016) to 27% (2025). Realty Income Corporation's net margin went from 29% (2016) to 18% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 24.7 | 40.7 | +64.8% |
| Realty Income Corpo… (O) | 50.2 | 48.2 | -4.0% |
| NNN REIT, Inc. (NNN) | 29.7 | 19.1 | -35.7% |
| Four Corners Proper… (FCPT) | 21.8 | 21.2 | -2.8% |
| Getty Realty Corp. (GTY) | 21.6 | 19.6 | -9.3% |
Agree Realty Corporation has traded in a 25x–41x P/E range over 9 years; current trailing P/E is ~45x. Realty Income Corporation has traded in a 45x–82x P/E range over 9 years; current trailing P/E is ~57x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 1.97 | 1.77 | -10.2% |
| Realty Income Corpo… (O) | 1.13 | 1.17 | +3.5% |
| NNN REIT, Inc. (NNN) | 1.38 | 2.07 | +50.0% |
| Four Corners Proper… (FCPT) | 2.63 | 1.09 | -58.6% |
| Getty Realty Corp. (GTY) | 1.12 | 1.4 | +25.0% |
Agree Realty Corporation's EPS grew from $1.97 (2016) to $1.77 (2025) — a -1% CAGR. Realty Income Corporation's EPS grew from $1.13 (2016) to $1.17 (2025) — a 0% CAGR.
Chart 6Free Cash Flow — 5 Years
Agree Realty Corporation generated $504M FCF in 2025 (+105% vs 2021). Realty Income Corporation generated $4B FCF in 2025 (+207% vs 2021).
ADC vs O vs NNN vs FCPT vs GTY: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is ADC or O or NNN or FCPT or GTY a better buy right now?
NNN REIT, Inc. (NNN) offers the better valuation at 21.9x trailing P/E (22.2x forward), making it the more compelling value choice. Analysts rate Agree Realty Corporation (ADC) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ADC or O or NNN or FCPT or GTY?
On trailing P/E, NNN REIT, Inc. (NNN) is the cheapest at 21.9x versus Realty Income Corporation at 57.3x. On forward P/E, Four Corners Property Trust, Inc. is actually cheaper at 21.7x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: NNN REIT, Inc. wins at 1.99x versus Agree Realty Corporation's 120.54x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — ADC or O or NNN or FCPT or GTY?
Over the past 5 years, Agree Realty Corporation (ADC) delivered a total return of +46.7%, compared to +18.7% for Four Corners Property Trust, Inc. (FCPT). A $10,000 investment in ADC five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ADC returned +186.6% versus NNN's +50.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ADC or O or NNN or FCPT or GTY?
By beta (market sensitivity over 5 years), Agree Realty Corporation (ADC) is the lower-risk stock at 0.06β versus NNN REIT, Inc.'s 0.25β — meaning NNN is approximately 296% more volatile than ADC relative to the S&P 500. On balance sheet safety, Agree Realty Corporation (ADC) carries a lower debt/equity ratio of 47% versus 95% for Getty Realty Corp. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ADC or O or NNN or FCPT or GTY?
NNN REIT, Inc. (NNN) is the more profitable company, earning 42.1% net margin versus 18.4% for Realty Income Corporation — meaning it keeps 42.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NNN leads at 63.6% versus 28.3% for O. At the gross margin level — before operating expenses — NNN leads at 96.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ADC or O or NNN or FCPT or GTY more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, NNN REIT, Inc. (NNN) is the more undervalued stock at a PEG of 1.99x versus Agree Realty Corporation's 120.54x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Four Corners Property Trust, Inc. (FCPT) trades at 21.7x forward P/E versus 41.8x for Realty Income Corporation — 20.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FCPT: 5.8% to $27.00.
07Which pays a better dividend — ADC or O or NNN or FCPT or GTY?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is ADC or O or NNN or FCPT or GTY better for a retirement portfolio?
For long-horizon retirement investors, Agree Realty Corporation (ADC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.06), +186.6% 10Y return). Both have compounded well over 10 years (ADC: +186.6%, NNN: +50.8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ADC and O and NNN and FCPT and GTY?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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