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Stock Comparison

NLOP vs WELL vs VTR vs WPC vs MPW

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
NLOP
Net Lease Office Properties

REIT - Office

Real EstateNYSE • US
Market Cap$194M
5Y Perf.-31.1%
WELL
Welltower Inc.

REIT - Healthcare Facilities

Real EstateNYSE • US
Market Cap$149.25B
5Y Perf.+154.8%
VTR
Ventas, Inc.

REIT - Healthcare Facilities

Real EstateNYSE • US
Market Cap$41.15B
5Y Perf.+103.8%
WPC
W. P. Carey Inc.

REIT - Diversified

Real EstateNYSE • US
Market Cap$16.21B
5Y Perf.+40.7%
MPW
Medical Properties Trust, Inc.

REIT - Healthcare Facilities

Real EstateNYSE • US
Market Cap$3.37B
5Y Perf.+20.5%

NLOP vs WELL vs VTR vs WPC vs MPW — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
NLOP logoNLOP
WELL logoWELL
VTR logoVTR
WPC logoWPC
MPW logoMPW
IndustryREIT - OfficeREIT - Healthcare FacilitiesREIT - Healthcare FacilitiesREIT - DiversifiedREIT - Healthcare Facilities
Market Cap$194M$149.25B$41.15B$16.21B$3.37B
Revenue (TTM)$91M$11.63B$6.13B$1.99B$972M
Net Income (TTM)$-121M$1.43B$260M$517M$-199M
Gross Margin-9.7%39.1%-4.3%68.2%55.7%
Operating Margin30.2%4.4%13.4%43.3%38.1%
Forward P/E78.4x118.0x29.3x49.4x
Total Debt$22M$21.38B$13.22B$8.72B$128M
Cash & Equiv.$120M$5.03B$741M$155M$541M

NLOP vs WELL vs VTR vs WPC vs MPWLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

NLOP
WELL
VTR
WPC
MPW
StockOct 23May 26Return
Net Lease Office Pr… (NLOP)10068.9-31.1%
Welltower Inc. (WELL)100254.8+154.8%
Ventas, Inc. (VTR)100203.8+103.8%
W. P. Carey Inc. (WPC)100140.7+40.7%
Medical Properties … (MPW)100120.5+20.5%

Price return only. Dividends and distributions are not included.

Quick Verdict: NLOP vs WELL vs VTR vs WPC vs MPW

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: WPC leads in 3 of 7 categories (5-stock set), making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Welltower Inc. is the stronger pick specifically for growth and revenue expansion and recent price momentum and sentiment. NLOP and VTR also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
NLOP
Net Lease Office Properties
The Real Estate Income Play

NLOP ranks third and is worth considering specifically for income & stability.

  • Dividend streak 2 yrs, beta 0.45, yield 54.9%
  • 54.9% yield, 2-year raise streak, vs WELL's 1.3%, (1 stock pays no dividend)
Best for: income & stability
WELL
Welltower Inc.
The Real Estate Income Play

WELL is the #2 pick in this set and the best alternative if long-term compounding is your priority.

  • 223.1% 10Y total return vs NLOP's 84.5%
  • 35.8% FFO/revenue growth vs NLOP's -15.6%
  • +42.7% vs NLOP's +17.9%
Best for: long-term compounding
VTR
Ventas, Inc.
The Real Estate Income Play

VTR is the clearest fit if your priority is growth exposure and sleep-well-at-night.

  • Rev growth 18.5%, EPS growth 184.2%, 3Y rev CAGR 12.2%
  • Lower volatility, beta 0.01, current ratio 0.96x
  • Beta 0.01, yield 2.1%, current ratio 0.96x
  • Beta 0.01 vs NLOP's 0.45
Best for: growth exposure and sleep-well-at-night
WPC
W. P. Carey Inc.
The Real Estate Income Play

WPC carries the broadest edge in this set and is the clearest fit for value and quality.

  • Lower P/E (29.3x vs 49.4x)
  • 26.0% margin vs NLOP's -133.0%
  • 2.9% ROA vs NLOP's -25.4%, ROIC 3.5% vs 5.7%
Best for: value and quality
MPW
Medical Properties Trust, Inc.
The REIT Holding

Among these 5 stocks, MPW doesn't own a clear edge in any measured category.

Best for: real estate exposure
See the full category breakdown
CategoryWinnerWhy
GrowthWELL logoWELL35.8% FFO/revenue growth vs NLOP's -15.6%
ValueWPC logoWPCLower P/E (29.3x vs 49.4x)
Quality / MarginsWPC logoWPC26.0% margin vs NLOP's -133.0%
Stability / SafetyVTR logoVTRBeta 0.01 vs NLOP's 0.45
DividendsNLOP logoNLOP54.9% yield, 2-year raise streak, vs WELL's 1.3%, (1 stock pays no dividend)
Momentum (1Y)WELL logoWELL+42.7% vs NLOP's +17.9%
Efficiency (ROA)WPC logoWPC2.9% ROA vs NLOP's -25.4%, ROIC 3.5% vs 5.7%

NLOP vs WELL vs VTR vs WPC vs MPW — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

NLOPNet Lease Office Properties

Segment breakdown not available.

WELLWelltower Inc.
FY 2025
Senior Housing - Operating
81.1%$8.5B
Triple Net
11.4%$1.2B
Outpatient Medical
7.5%$782M
VTRVentas, Inc.
FY 2025
Senior Living Operations
74.0%$4.3B
Outpatient Medical And Research Portfolio
15.5%$898M
Triple Net Leased Properties
10.4%$602M
WPCW. P. Carey Inc.
FY 2025
Owned Real Estate
99.2%$1.7B
Investment Management
0.5%$9M
Management Service
0.3%$5M
MPWMedical Properties Trust, Inc.

Segment breakdown not available.

NLOP vs WELL vs VTR vs WPC vs MPW — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLNLOPLAGGINGMPW

Income & Cash Flow (Last 12 Months)

WPC leads this category, winning 3 of 6 comparable metrics.

WELL is the larger business by revenue, generating $11.6B annually — 128.1x NLOP's $91M. WPC is the more profitable business, keeping 26.0% of every revenue dollar as net income compared to NLOP's -133.0%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.

MetricNLOP logoNLOPNet Lease Office …WELL logoWELLWelltower Inc.VTR logoVTRVentas, Inc.WPC logoWPCW. P. Carey Inc.MPW logoMPWMedical Propertie…
RevenueTrailing 12 months$91M$11.6B$6.1B$2.0B$972M
EBITDAEarnings before interest/tax$81M$2.8B$2.3B$1.4B$663M
Net IncomeAfter-tax profit-$121M$1.4B$260M$517M-$199M
Free Cash FlowCash after capex$57M$2.5B$1.4B$1.1B$0
Gross MarginGross profit ÷ Revenue-9.7%+39.1%-4.3%+68.2%+55.7%
Operating MarginEBIT ÷ Revenue+30.2%+4.4%+13.4%+43.3%+38.1%
Net MarginNet income ÷ Revenue-133.0%+12.3%+4.2%+26.0%-20.4%
FCF MarginFCF ÷ Revenue+62.6%+21.9%+22.4%+56.8%+23.7%
Rev. Growth (YoY)Latest quarter vs prior year-100.0%+40.3%+22.0%+10.6%+14.9%
EPS Growth (YoY)Latest quarter vs prior year+49.9%+22.5%0.0%+40.4%+123.2%
WPC leads this category, winning 3 of 6 comparable metrics.

Valuation Metrics

NLOP leads this category, winning 4 of 6 comparable metrics.

At 35.0x trailing earnings, WPC trades at a 78% valuation discount to VTR's 160.3x P/E. On an enterprise value basis, NLOP's 1.3x EV/EBITDA is more attractive than MPW's 105.4x.

MetricNLOP logoNLOPNet Lease Office …WELL logoWELLWelltower Inc.VTR logoVTRVentas, Inc.WPC logoWPCW. P. Carey Inc.MPW logoMPWMedical Propertie…
Market CapShares × price$194M$149.2B$41.1B$16.2B$3.4B
Enterprise ValueMkt cap + debt − cash$97M$165.6B$53.6B$24.8B$3.0B
Trailing P/EPrice ÷ TTM EPS-1.34x153.25x160.26x35.02x-17.12x
Forward P/EPrice ÷ next-FY EPS est.78.42x118.01x29.28x49.43x
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple1.34x66.40x24.31x19.29x105.41x
Price / SalesMarket cap ÷ Revenue1.62x13.99x7.05x9.44x3.47x
Price / BookPrice ÷ Book value/share0.65x3.35x3.18x2.01x0.74x
Price / FCFMarket cap ÷ FCF3.23x52.41x31.25x14.85x14.62x
NLOP leads this category, winning 4 of 6 comparable metrics.

Profitability & Efficiency

Evenly matched — NLOP and WPC each lead in 3 of 9 comparable metrics.

WPC delivers a 6.3% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-34 for NLOP. MPW carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to WPC's 1.07x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs MPW's 5/9, reflecting strong financial health.

MetricNLOP logoNLOPNet Lease Office …WELL logoWELLWelltower Inc.VTR logoVTRVentas, Inc.WPC logoWPCW. P. Carey Inc.MPW logoMPWMedical Propertie…
ROE (TTM)Return on equity-34.3%+3.5%+2.1%+6.3%-4.3%
ROA (TTM)Return on assets-25.4%+2.3%+1.0%+2.9%-1.3%
ROICReturn on invested capital+5.7%+0.5%+2.5%+3.5%
ROCEReturn on capital employed+6.5%+0.6%+3.2%+4.6%
Piotroski ScoreFundamental quality 0–957655
Debt / EquityFinancial leverage0.07x0.49x1.05x1.07x0.03x
Net DebtTotal debt minus cash-$97M$16.3B$12.5B$8.6B-$413M
Cash & Equiv.Liquid assets$120M$5.0B$741M$155M$541M
Total DebtShort + long-term debt$22M$21.4B$13.2B$8.7B$128M
Interest CoverageEBIT ÷ Interest expense-10.39x0.26x1.40x2.73x
Evenly matched — NLOP and WPC each lead in 3 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

WELL leads this category, winning 5 of 6 comparable metrics.

A $10,000 investment in WELL five years ago would be worth $30,234 today (with dividends reinvested), compared to $4,381 for MPW. Over the past 12 months, WELL leads with a +42.7% total return vs NLOP's +17.9%. The 3-year compound annual growth rate (CAGR) favors WELL at 42.5% vs MPW's -6.0% — a key indicator of consistent wealth creation.

MetricNLOP logoNLOPNet Lease Office …WELL logoWELLWelltower Inc.VTR logoVTRVentas, Inc.WPC logoWPCW. P. Carey Inc.MPW logoMPWMedical Propertie…
YTD ReturnYear-to-date+35.6%+14.3%+12.6%+15.4%+13.0%
1-Year ReturnPast 12 months+17.9%+42.7%+33.9%+25.9%+18.6%
3-Year ReturnCumulative with dividends+84.5%+189.5%+94.2%+18.5%-16.9%
5-Year ReturnCumulative with dividends+84.5%+202.3%+74.8%+26.7%-56.2%
10-Year ReturnCumulative with dividends+84.5%+223.1%+65.0%+80.9%-0.3%
CAGR (3Y)Annualised 3-year return+22.7%+42.5%+24.8%+5.8%-6.0%
WELL leads this category, winning 5 of 6 comparable metrics.

Risk & Volatility

VTR leads this category, winning 2 of 2 comparable metrics.

VTR is the less volatile stock with a 0.01 beta — it tends to amplify market swings less than NLOP's 0.45 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VTR currently trades 97.8% from its 52-week high vs NLOP's 38.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricNLOP logoNLOPNet Lease Office …WELL logoWELLWelltower Inc.VTR logoVTRVentas, Inc.WPC logoWPCW. P. Carey Inc.MPW logoMPWMedical Propertie…
Beta (5Y)Sensitivity to S&P 5000.45x0.13x0.01x0.02x0.30x
52-Week HighHighest price in past year$34.53$219.59$88.50$75.69$5.92
52-Week LowLowest price in past year$11.23$142.65$61.76$59.34$3.95
% of 52W HighCurrent price vs 52-week peak+38.0%+97.0%+97.8%+97.6%+95.4%
RSI (14)Momentum oscillator 0–10048.060.256.261.558.9
Avg Volume (50D)Average daily shares traded199K2.6M3.4M1.1M1.8M
VTR leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

NLOP leads this category, winning 2 of 2 comparable metrics.

Analyst consensus: NLOP as "Buy", WELL as "Buy", VTR as "Buy", WPC as "Hold", MPW as "Hold". Consensus price targets imply 457.0% upside for NLOP (target: $73) vs -11.5% for MPW (target: $5). For income investors, NLOP offers the higher dividend yield at 54.94% vs WELL's 1.30%.

MetricNLOP logoNLOPNet Lease Office …WELL logoWELLWelltower Inc.VTR logoVTRVentas, Inc.WPC logoWPCW. P. Carey Inc.MPW logoMPWMedical Propertie…
Analyst RatingConsensus buy/hold/sellBuyBuyBuyHoldHold
Price TargetConsensus 12-month target$73.00$226.50$90.80$73.20$5.00
# AnalystsCovering analysts134322028
Dividend YieldAnnual dividend ÷ price+54.9%+1.3%+2.1%+4.8%
Dividend StreakConsecutive years of raises22110
Dividend / ShareAnnual DPS$7.20$2.76$1.86$3.57
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%0.0%0.0%0.0%
NLOP leads this category, winning 2 of 2 comparable metrics.
Key Takeaway

NLOP leads in 2 of 6 categories (Valuation Metrics, Analyst Outlook). WPC leads in 1 (Income & Cash Flow). 1 tied.

Best OverallNet Lease Office Properties (NLOP)Leads 2 of 6 categories
Loading custom metrics...

NLOP vs WELL vs VTR vs WPC vs MPW: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is NLOP or WELL or VTR or WPC or MPW a better buy right now?

For growth investors, Welltower Inc.

(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus -15. 6% for Net Lease Office Properties (NLOP). W. P. Carey Inc. (WPC) offers the better valuation at 35. 0x trailing P/E (29. 3x forward), making it the more compelling value choice. Analysts rate Net Lease Office Properties (NLOP) a "Buy" — based on 1 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.

02

Which has the better valuation — NLOP or WELL or VTR or WPC or MPW?

On trailing P/E, W.

P. Carey Inc. (WPC) is the cheapest at 35. 0x versus Ventas, Inc. at 160. 3x. On forward P/E, W. P. Carey Inc. is actually cheaper at 29. 3x.

03

Which is the better long-term investment — NLOP or WELL or VTR or WPC or MPW?

Over the past 5 years, Welltower Inc.

(WELL) delivered a total return of +202. 3%, compared to -56. 2% for Medical Properties Trust, Inc. (MPW). Over 10 years, the gap is even starker: WELL returned +223. 1% versus MPW's -0. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — NLOP or WELL or VTR or WPC or MPW?

By beta (market sensitivity over 5 years), Ventas, Inc.

(VTR) is the lower-risk stock at 0. 01β versus Net Lease Office Properties's 0. 45β — meaning NLOP is approximately 4639% more volatile than VTR relative to the S&P 500. On balance sheet safety, Medical Properties Trust, Inc. (MPW) carries a lower debt/equity ratio of 3% versus 107% for W. P. Carey Inc. — giving it more financial flexibility in a downturn.

05

Which is growing faster — NLOP or WELL or VTR or WPC or MPW?

By revenue growth (latest reported year), Welltower Inc.

(WELL) is pulling ahead at 35. 8% versus -15. 6% for Net Lease Office Properties (NLOP). On earnings-per-share growth, the picture is similar: Ventas, Inc. grew EPS 184. 2% year-over-year, compared to -58. 7% for Net Lease Office Properties. Over a 3-year CAGR, WELL leads at 22. 7% 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.

06

Which has better profit margins — NLOP or WELL or VTR or WPC or MPW?

W.

P. Carey Inc. (WPC) is the more profitable company, earning 27. 2% net margin versus -121. 1% for Net Lease Office Properties — meaning it keeps 27. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: WPC leads at 44. 4% versus 3. 3% for WELL. At the gross margin level — before operating expenses — MPW leads at 55. 7%, 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.

07

Is NLOP or WELL or VTR or WPC or MPW more undervalued right now?

On forward earnings alone, W.

P. Carey Inc. (WPC) trades at 29. 3x forward P/E versus 118. 0x for Ventas, Inc. — 88. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NLOP: 457. 0% to $73. 00.

08

Which pays a better dividend — NLOP or WELL or VTR or WPC or MPW?

In this comparison, NLOP (54.

9% yield), WPC (4. 8% yield), VTR (2. 1% yield), WELL (1. 3% yield) pay a dividend. MPW does not pay a meaningful dividend and should not be held primarily for income.

09

Is NLOP or WELL or VTR or WPC or MPW better for a retirement portfolio?

For long-horizon retirement investors, Ventas, Inc.

(VTR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 01), 2. 1% yield). Both have compounded well over 10 years (VTR: +65. 0%, MPW: -0. 3%), 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.

10

What are the main differences between NLOP and WELL and VTR and WPC and MPW?

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: NLOP is a small-cap income-oriented stock; WELL is a mid-cap high-growth stock; VTR is a mid-cap high-growth stock; WPC is a mid-cap income-oriented stock; MPW is a small-cap quality compounder stock. NLOP, WELL, VTR, WPC pay a dividend while MPW does not, making them suitable for different income and tax situations. 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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NLOP

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  • Sector: Real Estate
  • Market Cap > $100B
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  • Sector: Real Estate
  • Market Cap > $100B
  • Revenue Growth > 20%
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  • Sector: Real Estate
  • Market Cap > $100B
  • Revenue Growth > 11%
  • Dividend Yield > 0.8%
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  • Sector: Real Estate
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 15%
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MPW

Quality Business

  • Sector: Real Estate
  • Market Cap > $100B
  • Revenue Growth > 7%
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Revenue Growth>
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(NLOP: -100.0% · WELL: 40.3%)

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