Comprehensive Stock Comparison
Compare Alpine Income Property Trust, Inc. (PINE) vs NNN REIT, Inc. (NNN) 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 | PINE | 15.9% revenue growth vs NNN's 6.6% |
| Value | NNN | Lower P/E (22.2x vs 49.8x) |
| Quality / Margins | NNN | 42.1% net margin vs PINE's -5.3% |
| Stability / Safety | PINE | Beta 0.25 vs NNN's 0.25 |
| Dividends | PINE | 0.2% yield; NNN pays no meaningful dividend |
| Momentum (1Y) | PINE | +25.8% vs NNN's +12.4% |
| Efficiency (ROA) | NNN | 4.2% ROA vs PINE's -0.4%, ROIC 6.7% vs 2.2% |
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
Alpine Income Property Trust is a real estate investment trust that acquires and operates single-tenant commercial properties leased to creditworthy tenants under long-term net lease agreements. It generates revenue primarily through rental income from its portfolio of retail and commercial properties — with over 90% of its properties occupied by national or regional tenants. The company's moat lies in its focus on essential-service retail properties with long-term leases to recession-resistant tenants, providing stable cash flows.
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.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
NNN leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). PINE leads in 2 (Valuation Metrics, Total Returns). 1 tied.
Financial Metrics (TTM)
NNN is the larger business by revenue, generating $926M annually — 15.3x PINE's $61M. NNN is the more profitable business, keeping 42.1% of every revenue dollar as net income compared to PINE's -5.3%. On growth, PINE holds the edge at +22.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PINEAlpine Income Pro… | NNNNNN REIT, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $61M | $926M |
| EBITDAEarnings before interest/tax | $41M | $856M |
| Net IncomeAfter-tax profit | -$3M | $390M |
| Free Cash FlowCash after capex | -$4M | $541M |
| Gross MarginGross profit ÷ Revenue | +85.1% | +96.0% |
| Operating MarginEBIT ÷ Revenue | +21.7% | +63.6% |
| Net MarginNet income ÷ Revenue | -5.3% | +42.1% |
| FCF MarginFCF ÷ Revenue | -6.5% | +58.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +22.5% | +9.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +190.4% | -1.9% |
Valuation Metrics
On an enterprise value basis, PINE's 7.1x EV/EBITDA is more attractive than NNN's 10.0x.
| Metric | PINEAlpine Income Pro… | NNNNNN REIT, Inc. |
|---|---|---|
| Market CapShares × price | $292M | $8.6B |
| Enterprise ValueMkt cap + debt − cash | $287M | $8.6B |
| Trailing P/EPrice ÷ TTM EPS | -89.64x | 21.89x |
| Forward P/EPrice ÷ next-FY EPS est. | 49.80x | 22.16x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.96x |
| EV / EBITDAEnterprise value multiple | 7.08x | 10.03x |
| Price / SalesMarket cap ÷ Revenue | 4.82x | 9.29x |
| Price / BookPrice ÷ Book value/share | 0.95x | 1.93x |
| Price / FCFMarket cap ÷ FCF | 11.32x | 12.90x |
Profitability & Efficiency
NNN delivers a 8.8% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $-1 for PINE. On the Piotroski fundamental quality scale (0–9), NNN scores 4/9 vs PINE's 3/9, reflecting mixed financial health.
| Metric | PINEAlpine Income Pro… | NNNNNN REIT, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -1.0% | +8.8% |
| ROA (TTM)Return on assets | -0.4% | +4.2% |
| ROICReturn on invested capital | +2.2% | +6.7% |
| ROCEReturn on capital employed | +2.0% | +6.5% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 4 |
| Debt / EquityFinancial leverage | — | — |
| Net DebtTotal debt minus cash | -$5M | -$5M |
| Cash & Equiv.Liquid assets | $5M | $5M |
| Total DebtShort + long-term debt | $0 | $0 |
| Interest CoverageEBIT ÷ Interest expense | — | 2.89x |
Total Returns (with DRIP)
A $10,000 investment in PINE five years ago would be worth $13,697 today (with dividends reinvested), compared to $12,983 for NNN. Over the past 12 months, PINE leads with a +25.8% total return vs NNN's +12.4%. The 3-year compound annual growth rate (CAGR) favors PINE at 8.2% vs NNN's 4.9% — a key indicator of consistent wealth creation.
| Metric | PINEAlpine Income Pro… | NNNNNN REIT, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +17.5% | +16.2% |
| 1-Year ReturnPast 12 months | +25.8% | +12.4% |
| 3-Year ReturnCumulative with dividends | +26.5% | +15.3% |
| 5-Year ReturnCumulative with dividends | +37.0% | +29.8% |
| 10-Year ReturnCumulative with dividends | +37.1% | +50.8% |
| CAGR (3Y)Annualised 3-year return | +8.2% | +4.9% |
Risk & Volatility
PINE is the less volatile stock with a 0.25 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. NNN currently trades 98.9% from its 52-week high vs PINE's 94.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PINEAlpine Income Pro… | NNNNNN REIT, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.25x | 0.25x |
| 52-Week HighHighest price in past year | $20.80 | $45.83 |
| 52-Week LowLowest price in past year | $13.10 | $35.80 |
| % of 52W HighCurrent price vs 52-week peak | +94.8% | +98.9% |
| RSI (14)Momentum oscillator 0–100 | 61.5 | 69.0 |
| Avg Volume (50D)Average daily shares traded | 136K | 1.3M |
Analyst Outlook
Wall Street rates PINE as "Buy" and NNN as "Hold". Consensus price targets imply 4.0% upside for PINE (target: $21) vs -0.9% for NNN (target: $45). PINE is the only dividend payer here at 0.18% yield — a key consideration for income-focused portfolios.
| Metric | PINEAlpine Income Pro… | NNNNNN REIT, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $20.50 | $44.93 |
| # AnalystsCovering analysts | 12 | 29 |
| Dividend YieldAnnual dividend ÷ price | +0.2% | — |
| Dividend StreakConsecutive years of raises | 0 | 8 |
| Dividend / ShareAnnual DPS | $0.04 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 100 | 97.68 | -2.3% |
| NNN REIT, Inc. (NNN) | 100 | 79.1 | -20.9% |
Alpine Income Prope… (PINE) returned +37% over 5 years vs NNN REIT, Inc. (NNN)'s +30%. A $10,000 investment in PINE 5 years ago would be worth $13,697 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | $8M | $61M | +616.0% |
| NNN REIT, Inc. (NNN) | $534M | $926M | +73.6% |
NNN REIT, Inc.'s revenue grew from $534M (2016) to $926M (2025) — a 6.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 33.3% | -5.3% | -115.9% |
| NNN REIT, Inc. (NNN) | 44.9% | 42.1% | -6.2% |
NNN REIT, Inc.'s net margin went from 45% (2016) to 42% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 42.3 | 119.9 | +183.5% |
| NNN REIT, Inc. (NNN) | 29.7 | 19.1 | -35.7% |
Alpine Income Property Trust, Inc. has traded in a 9x–136x P/E range over 6 years; current trailing P/E is ~-90x. NNN REIT, Inc. has traded in a 19x–34x P/E range over 9 years; current trailing P/E is ~22x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 0.31 | -0.22 | -171.0% |
| NNN REIT, Inc. (NNN) | 1.38 | 2.07 | +50.0% |
NNN REIT, Inc.'s EPS grew from $1.38 (2016) to $2.07 (2025) — a 5% CAGR.
Chart 6Free Cash Flow — 5 Years
Alpine Income Property Trust, Inc. generated $26M FCF in 2025 (+50% vs 2021). NNN REIT, Inc. generated $667M FCF in 2025 (+17% vs 2021).
PINE vs NNN: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is PINE or NNN 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 Alpine Income Property Trust, Inc. (PINE) a "Buy" — based on 12 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 — PINE or NNN?
On forward P/E, NNN REIT, Inc. is actually cheaper at 22.2x.
03Which is the better long-term investment — PINE or NNN?
Over the past 5 years, Alpine Income Property Trust, Inc. (PINE) delivered a total return of +37.0%, compared to +29.8% for NNN REIT, Inc. (NNN). A $10,000 investment in PINE five years ago would be worth approximately $14K today (assuming dividends reinvested). Over 10 years, the gap is even starker: NNN returned +50.8% versus PINE's +37.1%. 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 — PINE or NNN?
By beta (market sensitivity over 5 years), Alpine Income Property Trust, Inc. (PINE) is the lower-risk stock at 0.25β versus NNN REIT, Inc.'s 0.25β — meaning NNN is approximately 1% more volatile than PINE relative to the S&P 500.
05Which has better profit margins — PINE or NNN?
NNN REIT, Inc. (NNN) is the more profitable company, earning 42.1% net margin versus -5.3% for Alpine Income Property Trust, Inc. — 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 21.7% for PINE. 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 PINE or NNN more undervalued right now?
On forward earnings alone, NNN REIT, Inc. (NNN) trades at 22.2x forward P/E versus 49.8x for Alpine Income Property Trust, Inc. — 27.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PINE: 4.0% to $20.50.
07Which pays a better dividend — PINE or NNN?
In this comparison, PINE (0.2% yield) pays a dividend. NNN does not pay a meaningful dividend and should not be held primarily for income.
08Is PINE or NNN better for a retirement portfolio?
For long-horizon retirement investors, NNN REIT, Inc. (NNN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.25)). Both have compounded well over 10 years (NNN: +50.8%, PINE: +37.1%), 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 PINE and NNN?
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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