MDV vs IIPR vs STAG vs O vs NNN

For growth investors, STAG Industrial, Inc.

(STAG) is the stronger pick with 10. 1% revenue growth year-over-year, versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). Innovative Industrial Properties, Inc. (IIPR) offers the better valuation at 14. 6x trailing P/E (13. 5x forward), making it the more compelling value choice. Analysts rate Modiv Industrial, Inc. (MDV) a "Buy" — based on 8 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.

On trailing P/E, Innovative Industrial Properties, Inc.

(IIPR) is the cheapest at 14. 6x versus Realty Income Corporation at 52. 9x. On forward P/E, Innovative Industrial Properties, Inc. is actually cheaper at 13. 5x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: NNN REIT, Inc. wins at 1. 94x versus Realty Income Corporation's 72. 19x — a reasonable growth-adjusted valuation.

Over the past 5 years, STAG Industrial, Inc.

(STAG) delivered a total return of +26. 5%, compared to -63. 8% for Modiv Industrial, Inc. (MDV). Over 10 years, the gap is even starker: IIPR returned +439. 9% versus MDV's -63. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Realty Income Corporation (O) is the lower-risk stock at 0.

11β versus Innovative Industrial Properties, Inc. 's 0. 91β — meaning IIPR is approximately 696% more volatile than O relative to the S&P 500. On balance sheet safety, Innovative Industrial Properties, Inc. (IIPR) carries a lower debt/equity ratio of 21% versus 133% for Modiv Industrial, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), STAG Industrial, Inc.

(STAG) is pulling ahead at 10. 1% versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). On earnings-per-share growth, the picture is similar: STAG Industrial, Inc. grew EPS 40. 4% year-over-year, compared to -247. 6% for Modiv Industrial, Inc.. Over a 3-year CAGR, O leads at 19. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Innovative Industrial Properties, Inc.

(IIPR) is the more profitable company, earning 43. 0% net margin versus 2. 3% for Modiv Industrial, Inc. — meaning it keeps 43. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NNN leads at 61. 5% versus 28. 3% for O. At the gross margin level — before operating expenses — O leads at 89. 8%, 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.

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. 94x versus Realty Income Corporation's 72. 19x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Innovative Industrial Properties, Inc. (IIPR) trades at 13. 5x forward P/E versus 211. 4x for Modiv Industrial, Inc. — 197. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for IIPR: 47. 8% to $84. 67.

All stocks in this comparison pay dividends.

Innovative Industrial Properties, Inc. (IIPR) offers the highest yield at 13. 3%, versus 1. 6% for Modiv Industrial, Inc. (MDV).

For long-horizon retirement investors, Realty Income Corporation (O) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

11), 5. 2% yield). Both have compounded well over 10 years (O: +45. 3%, IIPR: +439. 9%), 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.

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.

In terms of investment character: MDV is a small-cap quality compounder stock; IIPR is a small-cap deep-value stock; STAG is a small-cap income-oriented stock; O is a mid-cap income-oriented stock; NNN is a small-cap income-oriented stock. 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.