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Diversified net lease REITs

The 14 companies in this industry listed on the NYSE and Nasdaq are worth $36 bn combined; the largest are W. P. Carey (WPC), NNN REIT (NNN) and Broadstone Net Lease, Inc. (BNL). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Open contest
14 companies value 36 bn revenue 5.4 bn margin — free cash flow — avg. score 5.2
WPC holds 40.0% of the group's value, 1.9x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 WPC W. P. Carey
United States · score 5.6
 40% 15 bn 1.8 bn 36.3% 1.2 bn 8.4% 5.6% REIT of leased industrial and retail properties · Long, inflation-linked net leases, with a strong presence in Europe
2 NNN NNN REIT
United States · score 7.7
 22% 7.8 bn 0.9 bn 40.4% 0.7 bn 8.6% 5.8% REIT with 3,692 single-tenant properties · 35+ consecutive years of dividend increases from retail properties
3 BNL Broadstone Net Lease, Inc.
United States · score 6.5
 9% 3.4 bn 0.5 bn 30.6% 0.3 bn 7.6% 6.5% REIT of commercial properties on long-term net leases · New York — assets of $5.9bn
4 FCPT Four Corners Property Trust, Inc.
United States · score 6.7
 7% 2.4 bn 0.3 bn 38.7% 0.2 bn 8.2% 6.5% REIT of restaurant and retail properties · California — assets of $3bn
5 GTY Getty Realty
United States · score 6.0
 5% 1.7 bn 0.2 bn 42.7% 0.1 bn 8.0% 6.7% REIT of gas stations and convenience stores · Gas station and convenience store properties leased on long contracts
6 NTST NETSTREIT Corp.
United States · score 4.8
 5% 1.7 bn 0.2 bn 6.4% 0.1 bn 7.0% 4.6% REIT of single-tenant net-lease retail properties · Texas — assets of $3bn
7 GNL Global Net Lease, Inc.
United States · score 4.5
 4% 1.5 bn 0.5 bn -2.9% 0.2 bn 14.1% 10.8% Global net-lease REIT in the US and Europe · New York — assets of $4.1bn
8 SAFE Safehold Inc.
United States · score 4.6
 2% 0.8 bn 0.4 bn 27.7% 0.0 bn 4.7% 6.5% Acquisition and management of ground leases · New York — assets of $7.5bn
9 GOOD GLADSTONE COMMERCIAL CORP
United States · score 6.4
 2% 0.6 bn 0.2 bn 14.5% 0.1 bn 12.2% 12.2% REIT of industrial warehouses and offices · Virginia — assets of $1.2bn
10 PSTL Postal Realty Trust, Inc.
United States · score 5.6
 2% 0.6 bn 0.1 bn 16.4% 0.0 bn 6.4% 5.2% REIT of properties leased to the US Postal Service · New York — assets of $837m
11 OLP ONE LIBERTY PROPERTIES INC
United States · score 5.9
 1% 0.5 bn 0.1 bn 33.5% 0.0 bn 8.2% 6.3% REIT of single-tenant properties · New York — assets of $872m
12 FVR FrontView REIT, Inc.
United States · score 4.8
 1% 0.4 bn 0.1 bn 2.1% 0.0 bn 10.6% 4.5% REIT of 303 street-front properties in 37 states · Texas — assets of $900m
13 PINE Alpine Income Property Trust, Inc.
United States · score 2.1
 1% 0.3 bn 0.1 bn 9.4% -0.2 bn -70.1% 6.3% REIT of single-tenant commercial properties · Florida — assets of $782m
14 GIPR GENERATION INCOME PROPERTIES, INC.
United States · score 2.0
 — — 0.0 bn -69.4% 0.0 bn — — REIT of net-leased retail, office and industrial properties · Florida — assets of $87m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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