Agree Realty Corporation (ADC)vsNNN REIT, Inc. (NNN)
ADC
Agree Realty Corporation
$71.23
-0.36%
REAL ESTATE · Cap: $9.08B
NNN
NNN REIT, Inc.
$43.87
+0.05%
REAL ESTATE · Cap: $8.46B
Smart Verdict
WallStSmart Research — data-driven comparison
NNN REIT, Inc. generates 22% more annual revenue ($953.25M vs $779.62M). NNN leads profitability with a 40.4% profit margin vs 28.8%. ADC appears more attractively valued with a PEG of 0.13. ADC earns a higher WallStSmart Score of 64/100 (C+).
ADC
Buy64
out of 100
Grade: C+
NNN
Buy54
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+79.3%
Fair Value
$370.90
Current Price
$71.23
$299.67 discount
Margin of Safety
+39.6%
Fair Value
$71.36
Current Price
$43.87
$27.49 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Growing faster than its price suggests
Reasonable price relative to book value
Strong operational efficiency at 48.1%
Keeps 29 of every $100 in revenue as profit
16.8% revenue growth
Keeps 40 of every $100 in revenue as profit
Strong operational efficiency at 61.7%
Reasonable price relative to book value
Areas to Watch
Premium valuation, high expectations priced in
2.1% earnings growth
ROE of 3.5% — below average capital efficiency
Weak financial health signals
Elevated debt levels
Weak financial health signals
Expensive relative to growth rate
Earnings declined 3.7%
Comparative Analysis Report
WallStSmart ResearchBull Case : ADC
The strongest argument for ADC centers on PEG Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 28.8% and operating margin at 48.1%. Revenue growth of 16.8% demonstrates continued momentum.
Bull Case : NNN
The strongest argument for NNN centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 40.4% and operating margin at 61.7%.
Bear Case : ADC
The primary concerns for ADC are P/E Ratio, EPS Growth, Return on Equity.
Bear Case : NNN
The primary concerns for NNN are Debt/Equity, Piotroski F-Score, PEG Ratio.
Key Dynamics to Monitor
ADC profiles as a growth stock while NNN is a mature play — different risk/reward profiles.
NNN carries more volatility with a beta of 0.77 — expect wider price swings.
ADC is growing revenue faster at 16.8% — sustainability is the question.
ADC generates stronger free cash flow (-281M), providing more financial flexibility.
Bottom Line
ADC scores higher overall (64/100 vs 54/100), backed by strong 28.8% margins and 16.8% revenue growth. NNN offers better value entry with a 39.6% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Agree Realty Corporation
REAL ESTATE · REIT - RETAIL · USA
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of net leased properties to industry leading retail tenants.
NNN REIT, Inc.
REAL ESTATE · REIT - RETAIL · USA
National Retail Properties invests primarily in high-quality retail properties generally subject to long-term net leases.
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