Net Lease REITs
"Net lease" refers to the triple-net lease structure, whereby tenants pay all expenses related to property management: property taxes, insurance, and maintenance.
One of the more "bond-like" property sectors, net lease REITs tend to operate more like a financing company than a property manager and have investment characteristics similar to corporate bonds due to the long-term nature of most net leases and the underlying "credit" exposure through their tenants' ability to pay rent.
| Ticker Symbol | Company Name | Property Sector | Market Cap ($B) | Dividend Yield | Payout Frequency | Price-to-FFO | Debt Ratio | Short Interest | |
|---|---|---|---|---|---|---|---|---|---|
| WPC | W. P. Carey |  | Net Lease | 14.05 | 6.67% | Quarter | 12.4 | 33% | 1.6% |
| NNN | National Retail |  | Net Lease | 7.53 | 5.47% | Quarter | 12.8 | 32% | 2.0% |
| ADC | Agree Realty |  | Net Lease | 6.12 | 4.87% | Monthly | 15.4 | 23% | 1.6% |
| SRC | Spirit Realty |  | Net Lease | 5.94 | 6.38% | Quarter | 11.6 | 38% | 1.6% |
| EPRT | Essential Properties |  | Net Lease | 3.84 | 4.65% | Quarter | 14.0 | 30% | 5.9% |
| EPR | EPR Properties |  | Net Lease | 3.44 | 7.23% | Monthly | 8.8 | 50% | 2.6% |
| BNL | Broadstone |  | Net Lease | 3.11 | 6.86% | Quarter | 10.8 | 39% | 1.6% |
| FCPT | Four Corners Property |  | Net Lease | 2.25 | 5.56% | Quarter | 15.3 | 31% | 2.2% |
| GNL | Global Net Lease |  | Net Lease | 2.17 | 15.03% | Quarter | 7.8 | 62% | 2.9% |
| GTY | Getty Realty |  | Net Lease | 1.60 | 5.93% | Quarter | 14.4 | 31% | 2.5% |
| SAFE | Safehold Inc |  | Ground Lease | 1.55 | 3.25% | Quarter | 40.0 | 65% | 6.6% |
| NTST | NetStreit |  | Net Lease | 1.15 | 4.89% | Quarter | 14.4 | 33% | 13.7% |
| GOOD | Gladstone Commercial |  | Net Lease | 0.53 | 8.96% | Monthly | 9.3 | 41% | 2.7% |
| OLP | One Liberty |  | Net Lease | 0.46 | 8.29% | Quarter | 11.9 | 49% | 0.7% |
| PSTL | Postal Realty |  | Net Lease | 0.37 | 6.48% | Quarter | 15.7 | 37% | 0.9% |
| PINE | Alpine Income |  | Net Lease | 0.23 | 6.47% | Quarter | 11.5 | 52% | 1.4% |
| MDV | Modiv |  | Net Lease | 0.11 | 7.81% | Monthly | 13.7 | 48% | 0.2% |
| GIPR | Generation Income |  | Net Lease | 0.01 | 11.70% | Monthly | 40.0 | 75% | 0.2% |
