Triple net lease REITs are built around a simple but durable model where the tenant, not the landlord, pays for three major property expenses, which means these REITs receive rental income net of taxes, insurance, and maintenance. These three “nets” are what give the lease its name.
In this structure, the landlord (or REIT) receives rent that’s largely free from ongoing property costs, making cash flows steadier and more predictable.
The appeal becomes even stronger when these leases run for long durations, providing steady income visibility and reducing turnover risk.
For investors, REITs with extended lease terms can offer a combination of predictable cash flow and lower operational uncertainty, making them attractive in both stable and shifting markets.
The following names highlight triple net lease REITs with long-term lease durations that stand out for their consistency and resilience.
| Company Name (Ticker) | Dividend Yield | Analyst Upside |
| Agree Realty (ADC) | 4.4% | 16% |
| Broadstone Net Lease (BNL) | 6.3% | 8% |
| NNN REIT (NNN) | 5.5% | 7% |
| Realty Income (O) | 5.6% | 6% |
| W. P. Carey (WPC) | 5.5% | 2% |
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Agree Realty (ADC)
Agree Realty (ADC) is a real estate investment trust (REIT) focused on owning and developing properties leased to leading retail tenants under long-term, net lease agreements. The company’s portfolio has expanded significantly, now including over 2,300 properties across the United States, primarily leased to investment-grade tenants in essential and e-commerce–resistant sectors such as grocery, home improvement, and discount retail.
Agree Realty has delivered rapid revenue growth over the last five years, averaging over 21% annually, driven by an aggressive acquisition strategy and strong tenant retention. Its three-year average return on equity (ROE) stands at approximately 3.8%, reflecting stable, low-volatility profitability supported by predictable rental income.
The company maintains an attractive dividend payout ratio, typically around 80% of Adjusted Funds From Operations (AFFO), and offers a current dividend yield of approximately 4.4%. With a high-quality tenant base, a focus on development, and a conservative balance sheet, Agree Realty remains a top-tier option for investors seeking steady income and long-term growth within the retail net lease sector.
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Broadstone Net Lease (BNL)
Broadstone Net Lease (BNL) is a diversified net lease REIT that owns a portfolio of primarily industrial, retail, and office properties across the United States and Canada. The company has been executing a healthcare portfolio simplification strategy, shifting its focus to its core property types. BNL focuses on mission-critical, single-tenant properties under long-term leases with built-in rent escalations, providing predictable and stable cash flows.
Over the past five years, BNL has achieved generally upward long-term revenue growth, supported by disciplined acquisitions, though revenue saw a slight decline in 2024 due to its portfolio repositioning efforts. Its trailing twelve-month Return on Equity (ROE) is approximately 5.4% (as of late 2024), reflecting consistent earnings performance typical of the net lease sector.
The company maintains a dividend payout ratio of around 80% of Adjusted Funds From Operations (AFFO) and currently offers a dividend yield around 6.3% (as of late 2025). With its diversified property base, which is now increasingly industrial-focused, and long-duration lease structure, Broadstone Net Lease provides investors with a combination of reliable income and stability in varying economic conditions.
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NNN REIT (NNN)
NNN REIT (NNN), formerly known as National Retail Properties, is one of the largest and most established net lease REITs in the United States. The company owns over 3,650 retail properties across 50 states, primarily leased to tenants in convenience, automotive service, and quick-service restaurant sectors.
NNN REIT has demonstrated steady financial performance, with a five-year average annual revenue growth rate of closer to 6.5% and a three-year average return on equity (ROE) of roughly 9.0% (as of late 2024/early 2025). The company maintains a dividend payout ratio of around 67% of Adjusted Funds From Operations (AFFO) and offers a dividend yield of approximately 5.5%.
With 36 consecutive years of annual dividend increases, a diversified tenant base, and prudent financial management, NNN REIT continues to stand out as a stable and income-oriented investment in the U.S. real estate market.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!