20-quarter listed-company comparison

REIT - Diversified Stocks

REIT - Diversified: JBG SMITH Properties owns the largest revenue base; One Liberty Properties, Inc. has the fastest current growth.

01 · the industry itself · before any single company

How has REIT - Diversified moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 51% behind S&P 500. Earnings across its companies fell 10% on average over the last four reported quarters.

BASING · 1y −14.8%~Price down, no fundamental support3 of 13 companies ahead of S&P 500 by 5% or more over three months

RS — · 9/13 >200d (−1) · 3/13 lead (+0) · EPS 7/13↑

REIT - Diversified, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 13 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is REIT - Diversified outperforming S&P 500?

REIT - Diversified has underperformed S&P 500 by 12.2% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 4.2%. 3 of 13 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is broad. FrontView REIT, Inc. is the strongest against the sector itself at +21%.

-4.2%Sector vs S&P 500 · 13 weeks

-12.2%Sector vs S&P 500 · 52 weeks

3/13Stocks leading S&P 500

9/13Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

REIT - Diversified has underperformed S&P 500 by 12.2% over 52 weeks and 4.2% over 13 weeks. 3 of 13 covered companies beat the S&P 500 on Mansfield relative strength, while 9 of 13 beat the sector itself. JBG SMITH Properties leads with income of $506 million, based on 6 of 13 comparable companies through Mar 2026.

Companies

complete canonical membership

Combined market value

$60.3B

VICI Properties Inc.

Revenue growing

2/5

positive TTM year-on-year growth

Beating S&P 500

3/13

positive Mansfield relative strength

Comparing 5 of 13

03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

CTO Realty Growth, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 60.2% evidence confidence.

American Assets Trust, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1CTO Realty Growth, Inc.CTO	57.4/100Mixed-positive evidence60% evidence	TURNING	19.8/35 Income — · PAT — 26% evidence	11.8/25 ROA 0.8% · ROE 2.4% · GNPA — 68% evidence	8.0/20 P/BV 1.22× · P/BV÷ROE 0.51 70% evidence	17.8/20 RS sector 13.4% · RS bench 4.8% · 1Y 33.7%3 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 11.8 + 8 + 17.8 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2One Liberty Properties, Inc.OLP	54.4/100Mixed-positive evidence70% evidence	TURNING	18.2/35 Income 10.9% · PAT -6.7% 71% evidence	17.1/25 ROA 1.6% · ROE 2.1% · GNPA — 68% evidence	6.3/20 P/BV 1.52× · P/BV÷ROE 0.72 70% evidence	12.8/20 RS sector 6.4% · RS bench -1.9% · 1Y 8.4%0 of 12 weeks ahead 70% evidence
Exact sum: 18.2 + 17.1 + 6.3 + 12.8 = 54.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
3Safehold Inc.SAFE	50.5/100Thin evidence · provisional54% evidence	TURNING	16.8/35 Income — · PAT — 26% evidence	13.2/25 ROA 1.1% · ROE 1.4% · GNPA — 68% evidence	8.6/20 P/BV 0.46× · P/BV÷ROE 0.33 70% evidence	11.9/20 RS sector 6% · RS bench -2.3% · 1Y 17.2%4 of 12 weeks ahead 70% evidence
Exact sum: 16.8 + 13.2 + 8.6 + 11.9 = 50.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4Broadstone Net Lease, Inc.BNL	49.9/100Mixed-negative evidence60% evidence	TURNING	18.6/35 Income — · PAT — 26% evidence	12.1/25 ROA 0.9% · ROE 1.3% · GNPA — 68% evidence	5.3/20 P/BV 1.38× · P/BV÷ROE 1.06 70% evidence	13.9/20 RS sector 7.3% · RS bench -0.9% · 1Y 25.9%3 of 12 weeks ahead 100% evidence
Exact sum: 18.6 + 12.1 + 5.3 + 13.9 = 49.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5American Assets Trust, Inc.AAT	49.8/100Mixed-negative evidence60% evidence	LEADER	16.6/35 Income — · PAT — 26% evidence	11.7/25 ROA 0.9% · ROE 0.6% · GNPA — 68% evidence	4.3/20 P/BV 1.35× · P/BV÷ROE 2.25 70% evidence	17.2/20 RS sector 9.9% · RS bench 1.4% · 1Y 22.9%12 of 12 weeks ahead 100% evidence
Exact sum: 16.6 + 11.7 + 4.3 + 17.2 = 49.8 · Decision use: Price leads the evidence: RS versus the benchmark is 1.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6FrontView REIT, Inc.FVR	44.5/100Thin evidence · provisional53% evidence	BREAKING OUT	17.0/35 Income — · PAT — 22% evidence	6.7/25 ROA 0.4% · ROE 0.1% · GNPA — 68% evidence	3.8/20 P/BV 0.83× · P/BV÷ROE 8.31 70% evidence	17.0/20 RS sector 21% · RS bench 11.9% · 1Y 64.3%9 of 12 weeks ahead 70% evidence
Exact sum: 17 + 6.7 + 3.8 + 17 = 44.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Gladstone Commercial CorporationGOOD	43.9/100Mixed-negative evidence70% evidence	BASING	15.8/35 Income 9.9% · PAT -19.2% 71% evidence	15.1/25 ROA 1.4% · ROE 2% · GNPA — 68% evidence	4.2/20 P/BV 3.41× · P/BV÷ROE 1.71 70% evidence	8.8/20 RS sector 1.5% · RS bench -6.5% · 1Y -4%0 of 12 weeks ahead 70% evidence
Exact sum: 15.8 + 15.1 + 4.2 + 8.8 = 43.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8VICI Properties Inc.VICI	40.7/100Mixed-negative evidence60% evidence	BASING	13.9/35 Income — · PAT — 26% evidence	16.0/25 ROA 1.6% · ROE 1.9% · GNPA — 68% evidence	7.4/20 P/BV 1× · P/BV÷ROE 0.53 70% evidence	3.4/20 RS sector -11.1% · RS bench -18.2% · 1Y -19.2%0 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 16 + 7.4 + 3.4 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9W. P. Carey Inc.WPC	40.1/100Mixed-negative evidence60% evidence	BASING	16.5/35 Income — · PAT — 26% evidence	12.6/25 ROA 0.8% · ROE 2.2% · GNPA — 68% evidence	5.6/20 P/BV 1.88× · P/BV÷ROE 0.85 70% evidence	5.4/20 RS sector 0.4% · RS bench -7.3% · 1Y 9.8%0 of 12 weeks ahead 100% evidence
Exact sum: 16.5 + 12.6 + 5.6 + 5.4 = 40.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Global Net Lease, Inc.GNL	38.4/100Thin evidence · provisional55% evidence	BASING	19.8/35 Income -14.8% · PAT — 45% evidence	6.5/25 ROA 0.4% · ROE -0.3% · GNPA — 68% evidence	9.8/20 P/BV 1.27× · P/BV÷ROE — 10% evidence	2.3/20 RS sector -5.2% · RS bench -12.5% · 1Y 11.6%0 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 6.5 + 9.8 + 2.3 = 38.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11AH REALTY TRUST INCAHRT	44.7/100Thin evidence · provisional41% evidence	BREAKING OUT	12.5/35 Income -39.7% · PAT -210% 29% evidence	8.8/25 ROA — · ROE -3.7% · GNPA — 34% evidence	9.8/20 P/BV 0.74× · P/BV÷ROE — 10% evidence	13.6/20 RS sector 4.2% · RS bench -4% · 1Y 2.2%9 of 12 weeks ahead 100% evidence
Exact sum: 12.5 + 8.8 + 9.8 + 13.6 = 44.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12JBG SMITH PropertiesJBGS	33.8/100Thin evidence · provisional49% evidence	ASLEEP	15.7/35 Income -3.3% · PAT — 45% evidence	5.3/25 ROA -0.2% · ROE -1.3% · GNPA — 68% evidence	9.8/20 P/BV 0.75× · P/BV÷ROE — 10% evidence	3.0/20 RS sector -31.6% · RS bench -37.2% · 1Y -38.7%0 of 12 weeks ahead 70% evidence
Exact sum: 15.7 + 5.3 + 9.8 + 3 = 33.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13Empire State Realty Trust, Inc.ESRT	31.9/100Thin evidence · provisional42% evidence	ASLEEP	13.1/35 Income — · PAT — 26% evidence	5.2/25 ROA -3.3% · ROE -2.2% · GNPA — 68% evidence	9.8/20 P/BV 0.84× · P/BV÷ROE — 10% evidence	3.8/20 RS sector -23.9% · RS bench -30.1% · 1Y -31.2%0 of 12 weeks ahead 70% evidence
Exact sum: 13.1 + 5.2 + 9.8 + 3.8 = 31.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 13 companies

04 · what price has already done

Market action

FrontView REIT, Inc. has the strongest one-year price move in REIT - Diversified at +64.3%. It also leads on Mansfield relative strength against the S&P 500 at +11.9%. 3 of 13 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Income Scale & Growth Durability

JBG SMITH Properties has the highest Income among the 13 REIT - Diversified companies compared here, at $506 million. Global Net Lease, Inc. is next at $472 million. One Liberty Properties, Inc. has the highest Income growth at 10.9%, so level and change sit with different companies. 6 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: JBG SMITH Properties is the scale leader at $506 million, 7.2% ahead of Global Net Lease, Inc.. One Liberty Properties, Inc.'s growth is 10.9% from a $102 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderJBG SMITH Properties · $506 million

Gap7.2% versus #2 · Global Net Lease, Inc.

Persistence1/8 recent comparable periods

Coverage6/13 companies · 244 observations

Investor read: JBG SMITH Properties is the scale benchmark; One Liberty Properties, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: JBG SMITH Properties's growth falls below One Liberty Properties, Inc.'s for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

Incomelargest

1JBG SMITH Properties JBGS$506M

2Global Net Lease, Inc. GNL$472M

3AH REALTY TRUST INC AHRT$251M

4Gladstone Commercial Corporation GOOD$166M

5One Liberty Properties, Inc. OLP$102M

Income growthfastest growers

1One Liberty Properties, Inc. OLP11%

2Gladstone Commercial Corporation GOOD9.9%

3JBG SMITH Properties JBGS-3.3%

4Global Net Lease, Inc. GNL-15%

5AH REALTY TRUST INC AHRT-40%

Income · company comparison

6/13 level · 5/13 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Income	Income growth	Reported
VICI Properties Inc. VICI	$1.0B	3.6%	Jun 2026
W. P. Carey Inc. WPC	$455M	11%	Jun 2026
Empire State Realty Trust, Inc. ESRT	$190M	5.6%	Jun 2026
JBG SMITH Properties JBGS	$128M	5.8%	Mar 2026
Broadstone Net Lease, Inc. BNL	$121M	11%	Jun 2026
American Assets Trust, Inc. AAT	$111M	1.8%	Jun 2026
Safehold Inc. SAFE	$111M	13%	Jun 2026
Global Net Lease, Inc. GNL	$109M	-17%	Mar 2026
Gladstone Commercial Corporation GOOD	$42M	11%	Mar 2026
CTO Realty Growth, Inc. CTO	$41M	14%	Jun 2026
AH REALTY TRUST INC AHRT	$40M	11%	Mar 2026
One Liberty Properties, Inc. OLP	$28M	17%	Mar 2026
FrontView REIT, Inc. FVR	$18M	13%	Mar 2026

Full 20-quarter history · every available company

Income · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021$63M

Dec 2021$79M

Mar 2022$77M

Jun 2022$116M

Sep 2022$149M

Dec 2022$148M

Mar 2023$129M

Jun 2023$158M

Sep 2023$153M

Dec 2023$36M

Mar 2024$188M

Jun 2024$168M

Sep 2024$156M

Dec 2024$56M

Mar 2025$36M

Jun 2025$87M

Sep 2025$72M

Dec 2025$52M

Mar 2026$40M

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 2021$98M

Dec 2021$102M

Mar 2022$101M

Jun 2022$104M

Sep 2022$111M

Dec 2022$106M

Mar 2023$108M

Jun 2023$110M

Sep 2023$111M

Dec 2023$112M

Mar 2024$111M

Jun 2024$111M

Sep 2024$123M

Dec 2024$113M

Mar 2025$109M

Jun 2025$108M

Sep 2025$110M

Dec 2025$110M

Mar 2026$111M

Jun 2026—

Broadstone Net Lease, Inc. · BNL

Sep 2021$123M

Dec 2021$93M

Mar 2022$94M

Jun 2022$98M

Sep 2022$104M

Dec 2022$112M

Mar 2023$119M

Jun 2023$109M

Sep 2023$110M

Dec 2023$105M

Mar 2024$105M

Jun 2024$106M

Sep 2024$108M

Dec 2024$112M

Mar 2025$109M

Jun 2025$113M

Sep 2025$114M

Dec 2025$118M

Mar 2026$121M

Jun 2026—

CTO Realty Growth, Inc. · CTO

Sep 2021$17M

Dec 2021$25M

Mar 2022$17M

Jun 2022$19M

Sep 2022$23M

Dec 2022$23M

Mar 2023$25M

Jun 2023$26M

Sep 2023$28M

Dec 2023$30M

Mar 2024$28M

Jun 2024$29M

Sep 2024$32M

Dec 2024$36M

Mar 2025$36M

Jun 2025$38M

Sep 2025$38M

Dec 2025$38M

Mar 2026$41M

Jun 2026—

Empire State Realty Trust, Inc. · ESRT

Sep 2021$165M

Dec 2021$160M

Mar 2022$164M

Jun 2022$198M

Sep 2022$184M

Dec 2022$181M

Mar 2023$165M

Jun 2023$191M

Sep 2023$192M

Dec 2023$193M

Mar 2024$181M

Jun 2024$190M

Sep 2024$200M

Dec 2024$198M

Mar 2025$180M

Jun 2025$191M

Sep 2025$198M

Dec 2025$199M

Mar 2026$190M

Jun 2026—

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022$10M

Jun 2022$10M

Sep 2022$10M

Dec 2022$10M

Mar 2023$11M

Jun 2023$12M

Sep 2023$12M

Dec 2023$14M

Mar 2024$15M

Jun 2024$15M

Sep 2024—

Dec 2024$15M

Mar 2025$16M

Jun 2025$18M

Sep 2025$17M

Dec 2025$17M

Mar 2026$18M

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021$34M

Dec 2021$35M

Mar 2022$36M

Jun 2022$36M

Sep 2022$40M

Dec 2022$37M

Mar 2023$37M

Jun 2023$39M

Sep 2023$36M

Dec 2023$36M

Mar 2024$36M

Jun 2024$37M

Sep 2024$39M

Dec 2024$37M

Mar 2025$38M

Jun 2025$40M

Sep 2025$41M

Dec 2025$43M

Mar 2026$42M

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021$96M

Dec 2021$107M

Mar 2022$97M

Jun 2022$95M

Sep 2022$93M

Dec 2022$94M

Mar 2023$94M

Jun 2023$96M

Sep 2023$118M

Dec 2023$207M

Mar 2024$148M

Jun 2024$145M

Sep 2024$139M

Dec 2024$138M

Mar 2025$132M

Jun 2025$125M

Sep 2025$121M

Dec 2025$117M

Mar 2026$109M

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021$157M

Dec 2021$157M

Mar 2022$162M

Jun 2022$146M

Sep 2022$148M

Dec 2022$151M

Mar 2023$153M

Jun 2023$152M

Sep 2023$152M

Dec 2023$148M

Mar 2024$145M

Jun 2024$135M

Sep 2024$136M

Dec 2024$131M

Mar 2025$121M

Jun 2025$126M

Sep 2025$124M

Dec 2025$128M

Mar 2026$128M

Jun 2026—

Safehold Inc. · SAFE

Sep 2021$144M

Dec 2021$51M

Mar 2022$60M

Jun 2022$65M

Sep 2022$72M

Dec 2022$73M

Mar 2023$78M

Jun 2023$86M

Sep 2023$86M

Dec 2023$103M

Mar 2024$93M

Jun 2024$90M

Sep 2024$91M

Dec 2024$92M

Mar 2025$98M

Jun 2025$94M

Sep 2025$96M

Dec 2025$98M

Mar 2026$111M

Jun 2026—

VICI Properties Inc. · VICI

Sep 2021$376M

Dec 2021$383M

Mar 2022$417M

Jun 2022$663M

Sep 2022$752M

Dec 2022$770M

Mar 2023$878M

Jun 2023$898M

Sep 2023$904M

Dec 2023$932M

Mar 2024$951M

Jun 2024$957M

Sep 2024$965M

Dec 2024$976M

Mar 2025$984M

Jun 2025$1.0B

Sep 2025$1.0B

Dec 2025$1.0B

Mar 2026$1.0B

Jun 2026—

W. P. Carey Inc. · WPC

Sep 2021$326M

Dec 2021$375M

Mar 2022$348M

Jun 2022$344M

Sep 2022$384M

Dec 2022$403M

Mar 2023$428M

Jun 2023$453M

Sep 2023$449M

Dec 2023$412M

Mar 2024$390M

Jun 2024$390M

Sep 2024$397M

Dec 2024$406M

Mar 2025$410M

Jun 2025$431M

Sep 2025$431M

Dec 2025$445M

Mar 2026$455M

Jun 2026—

Income growth · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202281%

Sep 2022137%

Dec 202287%

Mar 202368%

Jun 202336%

Sep 20232.7%

Dec 2023-76%

Mar 202446%

Jun 20246.3%

Sep 20242.0%

Dec 202456%

Mar 2025-81%

Jun 2025-48%

Sep 2025-54%

Dec 2025-7.1%

Mar 202611%

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202213%

Sep 202213%

Dec 20223.9%

Mar 20236.9%

Jun 20235.8%

Sep 20230.0%

Dec 20235.7%

Mar 20242.8%

Jun 20240.9%

Sep 202411%

Dec 20240.9%

Mar 2025-1.8%

Jun 2025-2.7%

Sep 2025-11%

Dec 2025-2.7%

Mar 20261.8%

Jun 2026—

Broadstone Net Lease, Inc. · BNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202215%

Sep 2022-15%

Dec 202220%

Mar 202327%

Jun 202311%

Sep 20235.8%

Dec 2023-6.3%

Mar 2024-12%

Jun 2024-2.8%

Sep 2024-1.8%

Dec 20246.7%

Mar 20253.8%

Jun 20256.6%

Sep 20255.6%

Dec 20255.4%

Mar 202611%

Jun 2026—

CTO Realty Growth, Inc. · CTO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202236%

Sep 202235%

Dec 2022-8.0%

Mar 202347%

Jun 202337%

Sep 202322%

Dec 202330%

Mar 202412%

Jun 202412%

Sep 202414%

Dec 202420%

Mar 202529%

Jun 202531%

Sep 202519%

Dec 20255.6%

Mar 202614%

Jun 2026—

Empire State Realty Trust, Inc. · ESRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202229%

Sep 202212%

Dec 202213%

Mar 20230.6%

Jun 2023-3.5%

Sep 20234.4%

Dec 20236.6%

Mar 20249.7%

Jun 2024-0.5%

Sep 20244.2%

Dec 20242.6%

Mar 2025-0.6%

Jun 20250.5%

Sep 2025-1.0%

Dec 20250.5%

Mar 20265.6%

Jun 2026—

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202310%

Jun 202320%

Sep 202320%

Dec 202340%

Mar 202436%

Jun 202425%

Sep 2024—

Dec 20247.1%

Mar 20256.7%

Jun 202520%

Sep 2025—

Dec 202513%

Mar 202613%

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20229.1%

Sep 202218%

Dec 20225.7%

Mar 20232.8%

Jun 20238.3%

Sep 2023-10%

Dec 2023-2.7%

Mar 2024-2.7%

Jun 2024-5.1%

Sep 20248.3%

Dec 20242.8%

Mar 20255.6%

Jun 20258.1%

Sep 20255.1%

Dec 202516%

Mar 202611%

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-5.0%

Sep 2022-3.1%

Dec 2022-12%

Mar 2023-3.1%

Jun 20231.1%

Sep 202327%

Dec 2023120%

Mar 202457%

Jun 202451%

Sep 202418%

Dec 2024-33%

Mar 2025-11%

Jun 2025-14%

Sep 2025-13%

Dec 2025-15%

Mar 2026-17%

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-5.8%

Sep 2022-5.7%

Dec 2022-3.8%

Mar 2023-5.6%

Jun 20234.1%

Sep 20232.7%

Dec 2023-2.0%

Mar 2024-5.2%

Jun 2024-11%

Sep 2024-11%

Dec 2024-11%

Mar 2025-17%

Jun 2025-6.7%

Sep 2025-8.8%

Dec 2025-2.3%

Mar 20265.8%

Jun 2026—

Safehold Inc. · SAFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202220%

Sep 2022-50%

Dec 202243%

Mar 202330%

Jun 202332%

Sep 202319%

Dec 202341%

Mar 202419%

Jun 20244.7%

Sep 20245.8%

Dec 2024-11%

Mar 20255.4%

Jun 20254.4%

Sep 20255.5%

Dec 20256.5%

Mar 202613%

Jun 2026—

VICI Properties Inc. · VICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202276%

Sep 2022100%

Dec 2022101%

Mar 2023111%

Jun 202335%

Sep 202320%

Dec 202321%

Mar 20248.3%

Jun 20246.6%

Sep 20246.8%

Dec 20244.7%

Mar 20253.5%

Jun 20254.6%

Sep 20254.4%

Dec 20253.8%

Mar 20263.6%

Jun 2026—

W. P. Carey Inc. · WPC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20227.5%

Sep 202218%

Dec 20227.5%

Mar 202323%

Jun 202332%

Sep 202317%

Dec 20232.2%

Mar 2024-8.9%

Jun 2024-14%

Sep 2024-12%

Dec 2024-1.5%

Mar 20255.1%

Jun 202511%

Sep 20258.6%

Dec 20259.6%

Mar 202611%

Jun 2026—

06 · compare level, then change

Profit Scale & Acceleration

One Liberty Properties, Inc. has the highest Net profit among the 13 REIT - Diversified companies compared here, at $28 million. Gladstone Commercial Corporation is next at $21 million. The same company also holds the highest Profit growth, at -6.7%. 6 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: One Liberty Properties, Inc. leads with $28 million of TTM profit, 33.3% above Gladstone Commercial Corporation. One Liberty Properties, Inc. shows -6.7% growth from a $28 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderOne Liberty Properties, Inc. · $28 million

Gap33.3% versus #2 · Gladstone Commercial Corporation

Persistence4/8 recent comparable periods

Coverage6/13 companies · 244 observations

Investor read: One Liberty Properties, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

Net profitlargest

1One Liberty Properties, Inc. OLP$28M

2Gladstone Commercial Corporation GOOD$21M

3FrontView REIT, Inc. FVR$-4M

4AH REALTY TRUST INC AHRT$-22M

5Global Net Lease, Inc. GNL$-41M

Profit growthfastest growers

1One Liberty Properties, Inc. OLP-6.7%

2Gladstone Commercial Corporation GOOD-19%

Net profit · company comparison

6/13 level · 2/13 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
VICI Properties Inc. VICI	$886M	61%	Jun 2026
W. P. Carey Inc. WPC	$176M	40%	Jun 2026
Broadstone Net Lease, Inc. BNL	$46M	171%	Jun 2026
Safehold Inc. SAFE	$32M	0.0%	Jun 2026
American Assets Trust, Inc. AAT	$7M	-87%	Jun 2026
Gladstone Commercial Corporation GOOD	$7M	40%	Mar 2026
CTO Realty Growth, Inc. CTO	$6M	200%	Jun 2026
One Liberty Properties, Inc. OLP	$6M	50%	Mar 2026
Empire State Realty Trust, Inc. ESRT	$3M	-81%	Jun 2026
FrontView REIT, Inc. FVR	$0M	-138%	Mar 2026
Global Net Lease, Inc. GNL	$-5M	-1,007%	Mar 2026
JBG SMITH Properties JBGS	$-23M	-275%	Mar 2026
AH REALTY TRUST INC AHRT	$-30M	-93%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021$8M

Dec 2021$3M

Mar 2022$12M

Jun 2022$31M

Sep 2022$42M

Dec 2022$15M

Mar 2023$5M

Jun 2023$15M

Sep 2023$8M

Dec 2023$-21M

Mar 2024$18M

Jun 2024$3M

Sep 2024$-8M

Dec 2024$29M

Mar 2025$-4M

Jun 2025$7M

Sep 2025$-1M

Dec 2025$2M

Mar 2026$-30M

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 2021$13M

Dec 2021$10M

Mar 2022$14M

Jun 2022$14M

Sep 2022$16M

Dec 2022$12M

Mar 2023$21M

Jun 2023$15M

Sep 2023$15M

Dec 2023$13M

Mar 2024$25M

Jun 2024$15M

Sep 2024$21M

Dec 2024$12M

Mar 2025$54M

Jun 2025$7M

Sep 2025$6M

Dec 2025$4M

Mar 2026$7M

Jun 2026—

Broadstone Net Lease, Inc. · BNL

Sep 2021$31M

Dec 2021$32M

Mar 2022$28M

Jun 2022$36M

Sep 2022$29M

Dec 2022$37M

Mar 2023$41M

Jun 2023$63M

Sep 2023$52M

Dec 2023$7M

Mar 2024$68M

Jun 2024$36M

Sep 2024$37M

Dec 2024$28M

Mar 2025$17M

Jun 2025$20M

Sep 2025$27M

Dec 2025$35M

Mar 2026$46M

Jun 2026—

CTO Realty Growth, Inc. · CTO

Sep 2021$24M

Dec 2021$2M

Mar 2022$0M

Jun 2022$1M

Sep 2022$5M

Dec 2022$-3M

Mar 2023$-6M

Jun 2023$2M

Sep 2023$3M

Dec 2023$7M

Mar 2024$6M

Jun 2024$1M

Sep 2024$6M

Dec 2024$-15M

Mar 2025$2M

Jun 2025$-23M

Sep 2025$3M

Dec 2025$28M

Mar 2026$6M

Jun 2026—

Empire State Realty Trust, Inc. · ESRT

Sep 2021$-10M

Dec 2021$-4M

Mar 2022$-17M

Jun 2022$49M

Sep 2022$10M

Dec 2022$22M

Mar 2023$12M

Jun 2023$37M

Sep 2023$20M

Dec 2023$16M

Mar 2024$10M

Jun 2024$29M

Sep 2024$23M

Dec 2024$19M

Mar 2025$16M

Jun 2025$11M

Sep 2025$14M

Dec 2025$32M

Mar 2026$3M

Jun 2026—

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022$-1M

Jun 2022$-1M

Sep 2022$-2M

Dec 2022$-11M

Mar 2023$-1M

Jun 2023$-4M

Sep 2023$-5M

Dec 2023$8M

Mar 2024$-3M

Jun 2024$-3M

Sep 2024—

Dec 2024$-3M

Mar 2025$-1M

Jun 2025$-5M

Sep 2025$6M

Dec 2025$-5M

Mar 2026$0M

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021$4M

Dec 2021$3M

Mar 2022$3M

Jun 2022$2M

Sep 2022$3M

Dec 2022$3M

Mar 2023$3M

Jun 2023$-5M

Sep 2023$2M

Dec 2023$5M

Mar 2024$4M

Jun 2024$2M

Sep 2024$12M

Dec 2024$7M

Mar 2025$5M

Jun 2025$5M

Sep 2025$4M

Dec 2025$5M

Mar 2026$7M

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021$7M

Dec 2021$-3M

Mar 2022$11M

Jun 2022$-1M

Sep 2022$15M

Dec 2022$-13M

Mar 2023$-1M

Jun 2023$-26M

Sep 2023$-136M

Dec 2023$-49M

Mar 2024$-24M

Jun 2024$-36M

Sep 2024$-66M

Dec 2024$-7M

Mar 2025$-189M

Jun 2025$-24M

Sep 2025$-60M

Dec 2025$48M

Mar 2026$-5M

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021$1M

Dec 2021$-63M

Mar 2022$0M

Jun 2022$141M

Sep 2022$-22M

Dec 2022$-21M

Mar 2023$24M

Jun 2023$-12M

Sep 2023$-66M

Dec 2023$-38M

Mar 2024$-42M

Jun 2024$-33M

Sep 2024$-31M

Dec 2024$-71M

Mar 2025$-54M

Jun 2025$-23M

Sep 2025$-35M

Dec 2025$-56M

Mar 2026$-23M

Jun 2026—

Safehold Inc. · SAFE

Sep 2021$109M

Dec 2021$28M

Mar 2022$25M

Jun 2022$23M

Sep 2022$75M

Dec 2022$23M

Mar 2023$5M

Jun 2023$24M

Sep 2023$-120M

Dec 2023$41M

Mar 2024$33M

Jun 2024$32M

Sep 2024$22M

Dec 2024$28M

Mar 2025$32M

Jun 2025$31M

Sep 2025$32M

Dec 2025$33M

Mar 2026$32M

Jun 2026—

VICI Properties Inc. · VICI

Sep 2021$164M

Dec 2021$284M

Mar 2022$243M

Jun 2022$-58M

Sep 2022$337M

Dec 2022$615M

Mar 2023$528M

Jun 2023$702M

Sep 2023$565M

Dec 2023$760M

Mar 2024$600M

Jun 2024$753M

Sep 2024$744M

Dec 2024$624M

Mar 2025$552M

Jun 2025$878M

Sep 2025$774M

Dec 2025$614M

Mar 2026$886M

Jun 2026—

W. P. Carey Inc. · WPC

Sep 2021$139M

Dec 2021$100M

Mar 2022$157M

Jun 2022$128M

Sep 2022$104M

Dec 2022$210M

Mar 2023$294M

Jun 2023$145M

Sep 2023$125M

Dec 2023$144M

Mar 2024$159M

Jun 2024$143M

Sep 2024$112M

Dec 2024$47M

Mar 2025$126M

Jun 2025$51M

Sep 2025$141M

Dec 2025$155M

Mar 2026$176M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022288%

Sep 2022425%

Dec 2022400%

Mar 2023-58%

Jun 2023-52%

Sep 2023-81%

Dec 2023-240%

Mar 2024260%

Jun 2024-80%

Sep 2024-200%

Dec 2024—

Mar 2025-122%

Jun 2025133%

Sep 2025—

Dec 2025-93%

Mar 2026—

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202227%

Sep 202223%

Dec 202220%

Mar 202350%

Jun 20237.1%

Sep 2023-6.3%

Dec 20238.3%

Mar 202419%

Jun 20240.0%

Sep 202440%

Dec 2024-7.7%

Mar 2025116%

Jun 2025-53%

Sep 2025-71%

Dec 2025-67%

Mar 2026-87%

Jun 2026—

Broadstone Net Lease, Inc. · BNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202257%

Sep 2022-6.5%

Dec 202216%

Mar 202346%

Jun 202375%

Sep 202379%

Dec 2023-81%

Mar 202466%

Jun 2024-43%

Sep 2024-29%

Dec 2024300%

Mar 2025-75%

Jun 2025-44%

Sep 2025-27%

Dec 202525%

Mar 2026171%

Jun 2026—

CTO Realty Growth, Inc. · CTO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-79%

Dec 2022-250%

Mar 2023—

Jun 2023100%

Sep 2023-40%

Dec 2023—

Mar 2024—

Jun 2024-50%

Sep 2024100%

Dec 2024-314%

Mar 2025-67%

Jun 2025-2,400%

Sep 2025-50%

Dec 2025—

Mar 2026200%

Jun 2026—

Empire State Realty Trust, Inc. · ESRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20221,125%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023-24%

Sep 2023100%

Dec 2023-27%

Mar 2024-17%

Jun 2024-22%

Sep 202415%

Dec 202419%

Mar 202560%

Jun 2025-62%

Sep 2025-39%

Dec 202568%

Mar 2026-81%

Jun 2026—

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024-138%

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20220.0%

Sep 2022-25%

Dec 20220.0%

Mar 20230.0%

Jun 2023-350%

Sep 2023-33%

Dec 202367%

Mar 202433%

Jun 2024—

Sep 2024500%

Dec 202440%

Mar 202525%

Jun 2025150%

Sep 2025-67%

Dec 2025-29%

Mar 202640%

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-133%

Sep 2022114%

Dec 2022—

Mar 2023-109%

Jun 2023—

Sep 2023-1,007%

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-2,300%

Dec 2022—

Mar 2023—

Jun 2023-109%

Sep 2023—

Dec 2023—

Mar 2024-275%

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Safehold Inc. · SAFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-31%

Dec 2022-18%

Mar 2023-80%

Jun 20234.4%

Sep 2023-260%

Dec 202378%

Mar 2024560%

Jun 202433%

Sep 2024—

Dec 2024-32%

Mar 2025-3.0%

Jun 2025-3.1%

Sep 202545%

Dec 202518%

Mar 20260.0%

Jun 2026—

VICI Properties Inc. · VICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-119%

Sep 2022105%

Dec 2022117%

Mar 2023117%

Jun 2023—

Sep 202368%

Dec 202324%

Mar 202414%

Jun 20247.3%

Sep 202432%

Dec 2024-18%

Mar 2025-8.0%

Jun 202517%

Sep 20254.0%

Dec 2025-1.6%

Mar 202661%

Jun 2026—

W. P. Carey Inc. · WPC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20226.7%

Sep 2022-25%

Dec 2022110%

Mar 202387%

Jun 202313%

Sep 202320%

Dec 2023-31%

Mar 2024-46%

Jun 2024-1.4%

Sep 2024-10%

Dec 2024-67%

Mar 2025-21%

Jun 2025-64%

Sep 202526%

Dec 2025230%

Mar 202640%

Jun 2026—

07 · compare level, then change

Funding Base & Its Composition

No company in this REIT - Diversified comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, VICI Properties Inc. is highest at $16,931 million, across 13 of 13 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

LeaderNo comparable leader

GapNot enough peers

PersistenceNot enough history

Coverage0/13 companies · 0 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

Depositslargest deposit bases

—Not enough comparable data—

Borrowingslargest borrowings

1VICI Properties Inc. VICI$16.9B

2W. P. Carey Inc. WPC$8.9B

3Safehold Inc. SAFE$4.7B

4Broadstone Net Lease, Inc. BNL$2.7B

5JBG SMITH Properties JBGS$2.5B

Funding base · company comparison

0/13 level · 13/13 change

All-company data · latest reported quarter

Company	Deposits	Borrowings	Reported
VICI Properties Inc. VICI	—	$16.9B	Jun 2026
W. P. Carey Inc. WPC	—	$8.9B	Jun 2026
Broadstone Net Lease, Inc. BNL	—	$2.7B	Jun 2026
Global Net Lease, Inc. GNL	—	$2.5B	Mar 2026
American Assets Trust, Inc. AAT	—	$1.7B	Jun 2026
Empire State Realty Trust, Inc. ESRT	—	$2.2B	Jun 2026
Safehold Inc. SAFE	—	$4.7B	Jun 2026
JBG SMITH Properties JBGS	—	$2.5B	Mar 2026
CTO Realty Growth, Inc. CTO	—	$659M	Jun 2026
AH REALTY TRUST INC AHRT	—	$1.2B	Mar 2026
Gladstone Commercial Corporation GOOD	—	$843M	Mar 2026
FrontView REIT, Inc. FVR	—	$327M	Mar 2026
One Liberty Properties, Inc. OLP	—	$561M	Mar 2026

Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021$968M

Dec 2021$918M

Mar 2022$1.1B

Jun 2022$1.1B

Sep 2022$1.0B

Dec 2022$1.1B

Mar 2023$1.1B

Jun 2023$1.3B

Sep 2023$1.3B

Dec 2023$1.4B

Mar 2024$1.4B

Jun 2024$1.4B

Sep 2024$1.3B

Dec 2024$1.3B

Mar 2025$1.3B

Jun 2025$1.4B

Sep 2025$1.5B

Dec 2025$1.3B

Mar 2026$1.2B

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 2021$1.6B

Dec 2021$1.6B

Mar 2022$1.6B

Jun 2022$1.7B

Sep 2022$1.6B

Dec 2022$1.6B

Mar 2023$1.7B

Jun 2023$1.7B

Sep 2023$1.7B

Dec 2023$1.7B

Mar 2024$1.7B

Jun 2024$1.7B

Sep 2024$2.1B

Dec 2024$2.0B

Mar 2025$1.7B

Jun 2025$1.7B

Sep 2025$1.7B

Dec 2025$1.7B

Mar 2026$1.7B

Jun 2026$1.7B

Broadstone Net Lease, Inc. · BNL

Sep 2021$1.6B

Dec 2021$1.7B

Mar 2022$1.8B

Jun 2022$1.8B

Sep 2022$2.1B

Dec 2022$2.0B

Mar 2023$1.9B

Jun 2023$1.9B

Sep 2023$1.9B

Dec 2023$1.9B

Mar 2024$1.9B

Jun 2024$1.9B

Sep 2024$1.9B

Dec 2024$1.9B

Mar 2025$2.0B

Jun 2025$2.1B

Sep 2025$2.3B

Dec 2025$2.5B

Mar 2026$2.6B

Jun 2026$2.7B

CTO Realty Growth, Inc. · CTO

Sep 2021$230M

Dec 2021$278M

Mar 2022$298M

Jun 2022$343M

Sep 2022$370M

Dec 2022$446M

Mar 2023$465M

Jun 2023$542M

Sep 2023$548M

Dec 2023$495M

Mar 2024$542M

Jun 2024$483M

Sep 2024$527M

Dec 2024$519M

Mar 2025$602M

Jun 2025$605M

Sep 2025$604M

Dec 2025$616M

Mar 2026$650M

Jun 2026$659M

Empire State Realty Trust, Inc. · ESRT

Sep 2021$2.2B

Dec 2021$2.3B

Mar 2022$2.3B

Jun 2022$2.3B

Sep 2022$2.3B

Dec 2022$2.3B

Mar 2023$2.3B

Jun 2023$2.3B

Sep 2023$2.3B

Dec 2023$2.3B

Mar 2024$2.3B

Jun 2024$2.5B

Sep 2024$2.5B

Dec 2024$2.5B

Mar 2025$2.1B

Jun 2025$2.1B

Sep 2025$2.1B

Dec 2025$2.4B

Mar 2026$2.3B

Jun 2026$2.2B

FrontView REIT, Inc. · FVR

Sep 2021$288M

Dec 2021$288M

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022$0M

Mar 2023$436M

Jun 2023$436M

Sep 2023$0M

Dec 2023$299M

Mar 2024$444M

Jun 2024$442M

Sep 2024—

Dec 2024$433M

Mar 2025$331M

Jun 2025$331M

Sep 2025$321M

Dec 2025$329M

Mar 2026$327M

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021$680M

Dec 2021$713M

Mar 2022$711M

Jun 2022$739M

Sep 2022$747M

Dec 2022$755M

Mar 2023$753M

Jun 2023$759M

Sep 2023$754M

Dec 2023$744M

Mar 2024$727M

Jun 2024$727M

Sep 2024$697M

Dec 2024$697M

Mar 2025$748M

Jun 2025$801M

Sep 2025$850M

Dec 2025$850M

Mar 2026$843M

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021$2.4B

Dec 2021$2.5B

Mar 2022$2.4B

Jun 2022$2.4B

Sep 2022$2.4B

Dec 2022$2.4B

Mar 2023$2.5B

Jun 2023$2.6B

Sep 2023$5.1B

Dec 2023$5.2B

Mar 2024$5.2B

Jun 2024$5.0B

Sep 2024$4.8B

Dec 2024$4.1B

Mar 2025$3.3B

Jun 2025$3.0B

Sep 2025$2.9B

Dec 2025$2.6B

Mar 2026$2.5B

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021$2.1B

Dec 2021$2.5B

Mar 2022$2.3B

Jun 2022$2.0B

Sep 2022$2.4B

Dec 2022$2.4B

Mar 2023$2.3B

Jun 2023$2.5B

Sep 2023$2.5B

Dec 2023$2.6B

Mar 2024$2.5B

Jun 2024$2.6B

Sep 2024$2.6B

Dec 2024$2.6B

Mar 2025$2.5B

Jun 2025$2.5B

Sep 2025$2.5B

Dec 2025$2.5B

Mar 2026$2.5B

Jun 2026—

Safehold Inc. · SAFE

Sep 2021$3.4B

Dec 2021$2.6B

Mar 2022$2.1B

Jun 2022$1.8B

Sep 2022$1.7B

Dec 2022$3.5B

Mar 2023$3.9B

Jun 2023$4.0B

Sep 2023$3.9B

Dec 2023$4.1B

Mar 2024$4.1B

Jun 2024$4.2B

Sep 2024$4.3B

Dec 2024$4.3B

Mar 2025$4.3B

Jun 2025$4.4B

Sep 2025$4.5B

Dec 2025$4.6B

Mar 2026$4.7B

Jun 2026$4.7B

VICI Properties Inc. · VICI

Sep 2021$4.7B

Dec 2021$4.7B

Mar 2022$5.3B

Jun 2022$13.7B

Sep 2022$13.7B

Dec 2022$13.7B

Mar 2023$16.6B

Jun 2023$16.6B

Sep 2023$16.7B

Dec 2023$16.7B

Mar 2024$16.7B

Jun 2024$16.7B

Sep 2024$16.7B

Dec 2024$16.7B

Mar 2025$16.8B

Jun 2025$16.9B

Sep 2025$16.8B

Dec 2025$16.8B

Mar 2026$16.8B

Jun 2026$16.9B

W. P. Carey Inc. · WPC

Sep 2021$6.7B

Dec 2021$6.8B

Mar 2022$6.8B

Jun 2022$6.8B

Sep 2022$7.8B

Dec 2022$7.9B

Mar 2023$8.3B

Jun 2023$8.6B

Sep 2023$8.3B

Dec 2023$8.1B

Mar 2024$7.9B

Jun 2024$8.1B

Sep 2024$8.0B

Dec 2024$8.0B

Mar 2025$7.9B

Jun 2025$8.6B

Sep 2025$8.7B

Dec 2025$8.7B

Mar 2026$8.8B

Jun 2026$8.9B

08 · compare level, then change

Return On Assets

One Liberty Properties, Inc. has the highest ROA among the 13 REIT - Diversified companies compared here, at 1.6%. Global Net Lease, Inc. has the highest ROA change at +0.8 percentage points, so level and change sit with different companies. 12 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: One Liberty Properties, Inc. leads roa at 1.6%; Global Net Lease, Inc. leads roa change at +0.8 percentage points.

LeaderOne Liberty Properties, Inc. · 1.6%

Gap0% versus #2 · VICI Properties Inc.

Persistence5/8 recent comparable periods

Coverage12/13 companies · 231 observations

Investor read: One Liberty Properties, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

ROAhighest

1One Liberty Properties, Inc. OLP1.6%

2VICI Properties Inc. VICI1.6%

3Gladstone Commercial Corporation GOOD1.4%

4Safehold Inc. SAFE1.1%

5American Assets Trust, Inc. AAT0.9%

ROA changefastest improvers

1Global Net Lease, Inc. GNL+0.8 pp

2One Liberty Properties, Inc. OLP+0.4 pp

3Gladstone Commercial Corporation GOOD+0.2 pp

4Broadstone Net Lease, Inc. BNL+0.1 pp

5CTO Realty Growth, Inc. CTO+0.1 pp

Return on assets · company comparison

12/13 level · 12/13 change

All-company data · latest reported quarter

Company	ROA	ROA change	Reported
VICI Properties Inc. VICI	1.6%	−0.8 pp	Jun 2026
One Liberty Properties, Inc. OLP	1.6%	+0.4 pp	Mar 2026
Gladstone Commercial Corporation GOOD	1.4%	+0.2 pp	Mar 2026
Safehold Inc. SAFE	1.1%	0.0 pp	Jun 2026
Broadstone Net Lease, Inc. BNL	0.9%	+0.1 pp	Jun 2026
American Assets Trust, Inc. AAT	0.9%	0.0 pp	Jun 2026
W. P. Carey Inc. WPC	0.8%	−0.2 pp	Jun 2026
CTO Realty Growth, Inc. CTO	0.8%	+0.1 pp	Jun 2026
Global Net Lease, Inc. GNL	0.4%	+0.8 pp	Mar 2026
FrontView REIT, Inc. FVR	0.4%	0.0 pp	Mar 2026
JBG SMITH Properties JBGS	-0.2%	−0.1 pp	Mar 2026
Empire State Realty Trust, Inc. ESRT	-3.3%	−4.1 pp	Jun 2026

Full 20-quarter history · every available company

ROA · reported quarter history

American Assets Trust, Inc. · AAT

Sep 20210.9%

Dec 20210.9%

Mar 20220.9%

Jun 20220.9%

Sep 20221.0%

Dec 20220.9%

Mar 20231.0%

Jun 20231.0%

Sep 20231.0%

Dec 20231.0%

Mar 20241.0%

Jun 20241.0%

Sep 20241.2%

Dec 20241.0%

Mar 20252.4%

Jun 20250.9%

Sep 20250.8%

Dec 20250.7%

Mar 20260.9%

Jun 20260.9%

Broadstone Net Lease, Inc. · BNL

Sep 20211.1%

Dec 20211.0%

Mar 20221.0%

Jun 20221.0%

Sep 20220.9%

Dec 20221.0%

Mar 20231.2%

Jun 20231.1%

Sep 20231.0%

Dec 20230.4%

Mar 20240.5%

Jun 20240.9%

Sep 20241.0%

Dec 20240.7%

Mar 20250.7%

Jun 20250.8%

Sep 20250.9%

Dec 20251.0%

Mar 20261.1%

Jun 20260.9%

CTO Realty Growth, Inc. · CTO

Sep 20210.6%

Dec 20210.3%

Mar 2022-0.3%

Jun 20220.6%

Sep 20220.8%

Dec 20220.2%

Mar 20230.3%

Jun 20230.4%

Sep 20230.6%

Dec 20230.6%

Mar 20240.5%

Jun 20240.5%

Sep 20240.5%

Dec 2024-0.7%

Mar 20250.7%

Jun 20250.7%

Sep 20250.7%

Dec 20250.7%

Mar 20260.8%

Jun 20260.8%

Empire State Realty Trust, Inc. · ESRT

Sep 20210.3%

Dec 20210.8%

Mar 20220.1%

Jun 20221.1%

Sep 20220.7%

Dec 20220.9%

Mar 20230.5%

Jun 20231.1%

Sep 20230.9%

Dec 20230.9%

Mar 20240.8%

Jun 20240.9%

Sep 20241.0%

Dec 20240.9%

Mar 20250.6%

Jun 20250.8%

Sep 20250.8%

Dec 20250.8%

Mar 20261.1%

Jun 2026-3.3%

FrontView REIT, Inc. · FVR

Sep 20210.0%

Dec 20210.0%

Mar 2022—

Jun 2022—

Sep 20220.7%

Dec 20220.7%

Mar 20230.5%

Jun 20230.2%

Sep 2023—

Dec 20230.3%

Mar 20240.4%

Jun 20240.5%

Sep 2024—

Dec 20240.9%

Mar 20250.4%

Jun 2025-0.1%

Sep 20250.3%

Dec 2025-0.4%

Mar 20260.4%

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 20212.2%

Dec 20212.2%

Mar 20222.2%

Jun 20222.2%

Sep 20222.5%

Dec 20222.2%

Mar 20232.3%

Jun 20232.4%

Sep 20232.3%

Dec 20232.2%

Mar 20242.3%

Jun 20242.4%

Sep 20242.5%

Dec 20242.4%

Mar 20251.2%

Jun 20252.5%

Sep 20252.5%

Dec 20252.8%

Mar 20261.4%

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 20210.9%

Dec 20211.8%

Mar 20221.0%

Jun 20220.9%

Sep 20220.8%

Dec 20220.4%

Mar 20231.8%

Jun 20230.1%

Sep 2023-1.5%

Dec 20230.7%

Mar 20240.5%

Jun 20240.5%

Sep 20240.2%

Dec 20240.6%

Mar 2025-0.4%

Jun 20250.6%

Sep 2025-0.1%

Dec 20250.2%

Mar 20260.4%

Jun 2026—

JBG SMITH Properties · JBGS

Sep 20210.0%

Dec 2021-0.1%

Mar 20220.0%

Jun 20220.1%

Sep 20220.2%

Dec 20220.0%

Mar 20230.1%

Jun 20230.2%

Sep 20230.3%

Dec 20230.1%

Mar 20240.0%

Jun 2024-0.1%

Sep 20240.1%

Dec 20240.0%

Mar 2025-0.1%

Jun 20250.0%

Sep 20250.0%

Dec 20250.0%

Mar 2026-0.2%

Jun 2026—

One Liberty Properties, Inc. · OLP

Sep 20211.2%

Dec 20211.4%

Mar 20221.7%

Jun 20222.1%

Sep 20221.5%

Dec 20221.8%

Mar 20231.3%

Jun 20231.5%

Sep 20231.1%

Dec 20232.6%

Mar 20241.3%

Jun 20241.9%

Sep 20241.3%

Dec 20242.0%

Mar 20251.2%

Jun 20252.0%

Sep 20252.0%

Dec 20250.9%

Mar 20261.6%

Jun 2026—

Safehold Inc. · SAFE

Sep 20210.5%

Dec 20210.3%

Mar 20221.1%

Jun 20221.2%

Sep 20221.3%

Dec 20221.1%

Mar 20230.8%

Jun 20231.2%

Sep 2023-1.7%

Dec 20231.3%

Mar 20241.1%

Jun 20241.1%

Sep 20241.0%

Dec 20241.0%

Mar 20251.1%

Jun 20251.1%

Sep 20251.1%

Dec 20251.1%

Mar 20261.1%

Jun 20261.1%

VICI Properties Inc. · VICI

Sep 20212.0%

Dec 20212.0%

Mar 20221.6%

Jun 20220.2%

Sep 20221.8%

Dec 20222.7%

Mar 20232.3%

Jun 20232.3%

Sep 20231.9%

Dec 20232.4%

Mar 20241.9%

Jun 20242.2%

Sep 20242.2%

Dec 20241.9%

Mar 20251.7%

Jun 20252.4%

Sep 20252.1%

Dec 20251.8%

Mar 20262.4%

Jun 20261.6%

W. P. Carey Inc. · WPC

Sep 20210.9%

Dec 20211.1%

Mar 20221.0%

Jun 20221.0%

Sep 20220.8%

Dec 20221.0%

Mar 20231.0%

Jun 20231.2%

Sep 20231.0%

Dec 20230.7%

Mar 20241.0%

Jun 20240.8%

Sep 20241.0%

Dec 20240.9%

Mar 20251.0%

Jun 20251.0%

Sep 20251.1%

Dec 20251.0%

Mar 20261.0%

Jun 20260.8%

ROA change · reported quarter history

American Assets Trust, Inc. · AAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 20220.0 pp

Mar 2023+0.1 pp

Jun 2023+0.1 pp

Sep 20230.0 pp

Dec 2023+0.1 pp

Mar 20240.0 pp

Jun 20240.0 pp

Sep 2024+0.2 pp

Dec 20240.0 pp

Mar 2025+1.4 pp

Jun 2025−0.1 pp

Sep 2025−0.4 pp

Dec 2025−0.3 pp

Mar 2026−1.5 pp

Jun 20260.0 pp

Broadstone Net Lease, Inc. · BNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.2 pp

Dec 20220.0 pp

Mar 2023+0.2 pp

Jun 2023+0.1 pp

Sep 2023+0.1 pp

Dec 2023−0.6 pp

Mar 2024−0.7 pp

Jun 2024−0.2 pp

Sep 20240.0 pp

Dec 2024+0.3 pp

Mar 2025+0.2 pp

Jun 2025−0.1 pp

Sep 2025−0.1 pp

Dec 2025+0.3 pp

Mar 2026+0.4 pp

Jun 2026+0.1 pp

CTO Realty Growth, Inc. · CTO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.2 pp

Dec 2022−0.1 pp

Mar 2023+0.6 pp

Jun 2023−0.2 pp

Sep 2023−0.2 pp

Dec 2023+0.4 pp

Mar 2024+0.2 pp

Jun 2024+0.1 pp

Sep 2024−0.1 pp

Dec 2024−1.3 pp

Mar 2025+0.2 pp

Jun 2025+0.2 pp

Sep 2025+0.2 pp

Dec 2025+1.4 pp

Mar 2026+0.1 pp

Jun 2026+0.1 pp

Empire State Realty Trust, Inc. · ESRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022+0.1 pp

Mar 2023+0.4 pp

Jun 20230.0 pp

Sep 2023+0.2 pp

Dec 20230.0 pp

Mar 2024+0.3 pp

Jun 2024−0.2 pp

Sep 2024+0.1 pp

Dec 20240.0 pp

Mar 2025−0.2 pp

Jun 2025−0.1 pp

Sep 2025−0.2 pp

Dec 2025−0.1 pp

Mar 2026+0.5 pp

Jun 2026−4.1 pp

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.7 pp

Dec 2022+0.7 pp

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023−0.4 pp

Mar 2024−0.1 pp

Jun 2024+0.3 pp

Sep 2024—

Dec 2024+0.6 pp

Mar 20250.0 pp

Jun 2025−0.6 pp

Sep 2025—

Dec 2025−1.3 pp

Mar 20260.0 pp

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.3 pp

Dec 20220.0 pp

Mar 2023+0.1 pp

Jun 2023+0.2 pp

Sep 2023−0.2 pp

Dec 20230.0 pp

Mar 20240.0 pp

Jun 20240.0 pp

Sep 2024+0.2 pp

Dec 2024+0.2 pp

Mar 2025−1.1 pp

Jun 2025+0.1 pp

Sep 20250.0 pp

Dec 2025+0.4 pp

Mar 2026+0.2 pp

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.1 pp

Dec 2022−1.4 pp

Mar 2023+0.8 pp

Jun 2023−0.8 pp

Sep 2023−2.3 pp

Dec 2023+0.3 pp

Mar 2024−1.3 pp

Jun 2024+0.4 pp

Sep 2024+1.7 pp

Dec 2024−0.1 pp

Mar 2025−0.9 pp

Jun 2025+0.1 pp

Sep 2025−0.3 pp

Dec 2025−0.4 pp

Mar 2026+0.8 pp

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.2 pp

Dec 2022+0.1 pp

Mar 2023+0.1 pp

Jun 2023+0.1 pp

Sep 2023+0.1 pp

Dec 2023+0.1 pp

Mar 2024−0.1 pp

Jun 2024−0.3 pp

Sep 2024−0.2 pp

Dec 2024−0.1 pp

Mar 2025−0.1 pp

Jun 2025+0.1 pp

Sep 2025−0.1 pp

Dec 20250.0 pp

Mar 2026−0.1 pp

Jun 2026—

One Liberty Properties, Inc. · OLP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.3 pp

Dec 2022+0.4 pp

Mar 2023−0.4 pp

Jun 2023−0.6 pp

Sep 2023−0.4 pp

Dec 2023+0.8 pp

Mar 20240.0 pp

Jun 2024+0.4 pp

Sep 2024+0.2 pp

Dec 2024−0.6 pp

Mar 2025−0.1 pp

Jun 2025+0.1 pp

Sep 2025+0.7 pp

Dec 2025−1.1 pp

Mar 2026+0.4 pp

Jun 2026—

Safehold Inc. · SAFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.8 pp

Dec 2022+0.8 pp

Mar 2023−0.3 pp

Jun 20230.0 pp

Sep 2023−3.0 pp

Dec 2023+0.2 pp

Mar 2024+0.3 pp

Jun 2024−0.1 pp

Sep 2024+2.7 pp

Dec 2024−0.3 pp

Mar 20250.0 pp

Jun 20250.0 pp

Sep 2025+0.1 pp

Dec 2025+0.1 pp

Mar 20260.0 pp

Jun 20260.0 pp

VICI Properties Inc. · VICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.2 pp

Dec 2022+0.7 pp

Mar 2023+0.7 pp

Jun 2023+2.1 pp

Sep 2023+0.1 pp

Dec 2023−0.3 pp

Mar 2024−0.4 pp

Jun 2024−0.1 pp

Sep 2024+0.3 pp

Dec 2024−0.5 pp

Mar 2025−0.2 pp

Jun 2025+0.2 pp

Sep 2025−0.1 pp

Dec 2025−0.1 pp

Mar 2026+0.7 pp

Jun 2026−0.8 pp

W. P. Carey Inc. · WPC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.1 pp

Dec 2022−0.1 pp

Mar 20230.0 pp

Jun 2023+0.2 pp

Sep 2023+0.2 pp

Dec 2023−0.3 pp

Mar 20240.0 pp

Jun 2024−0.4 pp

Sep 20240.0 pp

Dec 2024+0.2 pp

Mar 20250.0 pp

Jun 2025+0.2 pp

Sep 2025+0.1 pp

Dec 2025+0.1 pp

Mar 20260.0 pp

Jun 2026−0.2 pp

09 · compare level, then change

ROE — Leaders & Improvers

CTO Realty Growth, Inc. has the highest ROE among the 13 REIT - Diversified companies compared here, at 2.4%. W. P. Carey Inc. is next at 2.2%. Global Net Lease, Inc. has the highest ROE change at +8.2 percentage points, so level and change sit with different companies. Its ROE series carries 20 reported observations across the 20-quarter window.

What the numbers say: CTO Realty Growth, Inc. leads roe at 2.4%; Global Net Lease, Inc. leads roe change at +8.2 percentage points.

LeaderCTO Realty Growth, Inc. · 2.4%

Gap9.1% versus #2 · W. P. Carey Inc.

Persistence4/8 recent comparable periods

Coverage13/13 companies · 250 observations

Investor read: CTO Realty Growth, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.

ROEhighest

1CTO Realty Growth, Inc. CTO2.4%

2W. P. Carey Inc. WPC2.2%

3One Liberty Properties, Inc. OLP2.1%

4Gladstone Commercial Corporation GOOD2.0%

5VICI Properties Inc. VICI1.9%

ROE changefastest improvers

1Global Net Lease, Inc. GNL+8.2 pp

2CTO Realty Growth, Inc. CTO+6.8 pp

3W. P. Carey Inc. WPC+1.6 pp

4JBG SMITH Properties JBGS+1.0 pp

5Broadstone Net Lease, Inc. BNL+0.7 pp

Return on equity · company comparison

13/13 level · 13/13 change

All-company data · latest reported quarter

Company	ROE	ROE change	Reported
CTO Realty Growth, Inc. CTO	2.4%	+6.8 pp	Jun 2026
W. P. Carey Inc. WPC	2.2%	+1.6 pp	Jun 2026
One Liberty Properties, Inc. OLP	2.1%	+0.7 pp	Mar 2026
Gladstone Commercial Corporation GOOD	2.0%	+0.5 pp	Mar 2026
VICI Properties Inc. VICI	1.9%	−1.4 pp	Jun 2026
Safehold Inc. SAFE	1.4%	+0.1 pp	Jun 2026
Broadstone Net Lease, Inc. BNL	1.3%	+0.7 pp	Jun 2026
American Assets Trust, Inc. AAT	0.6%	0.0 pp	Jun 2026
FrontView REIT, Inc. FVR	0.1%	+0.4 pp	Mar 2026
Global Net Lease, Inc. GNL	-0.3%	+8.2 pp	Mar 2026
JBG SMITH Properties JBGS	-1.3%	+1.0 pp	Mar 2026
Empire State Realty Trust, Inc. ESRT	-2.2%	−2.8 pp	Jun 2026
AH REALTY TRUST INC AHRT	-3.7%	−3.2 pp	Mar 2026

Full 20-quarter history · every available company

ROE · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 20211.0%

Dec 20210.4%

Mar 20221.5%

Jun 20223.7%

Sep 20225.1%

Dec 20221.7%

Mar 20230.6%

Jun 20231.7%

Sep 20230.9%

Dec 2023-2.5%

Mar 20242.1%

Jun 20240.4%

Sep 2024-0.9%

Dec 20243.4%

Mar 2025-0.5%

Jun 20250.8%

Sep 2025-0.1%

Dec 20250.3%

Mar 2026-3.7%

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 20211.0%

Dec 20210.9%

Mar 20221.1%

Jun 20221.1%

Sep 20221.4%

Dec 20221.0%

Mar 20231.7%

Jun 20231.3%

Sep 20231.3%

Dec 20231.2%

Mar 20242.1%

Jun 20241.3%

Sep 20241.8%

Dec 20241.0%

Mar 20254.7%

Jun 20250.6%

Sep 20250.5%

Dec 20250.4%

Mar 20260.6%

Jun 20260.6%

Broadstone Net Lease, Inc. · BNL

Sep 20211.2%

Dec 20211.2%

Mar 20221.1%

Jun 20221.2%

Sep 20221.0%

Dec 20221.2%

Mar 20231.4%

Jun 20232.0%

Sep 20231.7%

Dec 20230.2%

Mar 20242.1%

Jun 20241.1%

Sep 20241.2%

Dec 20240.9%

Mar 20250.6%

Jun 20250.6%

Sep 20250.9%

Dec 20251.1%

Mar 20261.5%

Jun 20261.3%

CTO Realty Growth, Inc. · CTO

Sep 20216.7%

Dec 20210.5%

Mar 20220.1%

Jun 20220.3%

Sep 20221.1%

Dec 2022-0.7%

Mar 2023-1.3%

Jun 20230.4%

Sep 20230.6%

Dec 20231.5%

Mar 20241.2%

Jun 20240.2%

Sep 20241.2%

Dec 2024-2.8%

Mar 20250.4%

Jun 2025-4.4%

Sep 20250.5%

Dec 20254.8%

Mar 20261.1%

Jun 20262.4%

Empire State Realty Trust, Inc. · ESRT

Sep 2021-0.6%

Dec 2021-0.2%

Mar 2022-1.0%

Jun 20222.9%

Sep 20220.6%

Dec 20221.3%

Mar 20230.7%

Jun 20232.2%

Sep 20231.2%

Dec 20230.9%

Mar 20240.6%

Jun 20241.6%

Sep 20241.3%

Dec 20241.1%

Mar 20250.9%

Jun 20250.6%

Sep 20250.8%

Dec 20251.8%

Mar 20260.2%

Jun 2026-2.2%

FrontView REIT, Inc. · FVR

Sep 20210.0%

Dec 20210.0%

Mar 2022—

Jun 2022—

Sep 2022-1.2%

Dec 2022-8.5%

Mar 2023-1.0%

Jun 2023-2.4%

Sep 2023—

Dec 20235.3%

Mar 2024-1.1%

Jun 2024-1.0%

Sep 2024—

Dec 2024-2.3%

Mar 2025-0.3%

Jun 2025-1.1%

Sep 20251.4%

Dec 2025-1.0%

Mar 20260.1%

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 20211.2%

Dec 20210.8%

Mar 20220.9%

Jun 20220.4%

Sep 20220.7%

Dec 20220.8%

Mar 20230.8%

Jun 2023-1.2%

Sep 20230.5%

Dec 20231.3%

Mar 20241.0%

Jun 20240.5%

Sep 20243.4%

Dec 20242.2%

Mar 20251.5%

Jun 20251.4%

Sep 20251.2%

Dec 20251.6%

Mar 20262.0%

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 20210.5%

Dec 2021-0.2%

Mar 20220.7%

Jun 20220.0%

Sep 20220.9%

Dec 2022-0.8%

Mar 2023-0.1%

Jun 2023-1.8%

Sep 2023-6.4%

Dec 2023-2.4%

Mar 2024-1.2%

Jun 2024-1.9%

Sep 2024-2.6%

Dec 2024-0.3%

Mar 2025-8.5%

Jun 2025-1.1%

Sep 2025-3.0%

Dec 20252.5%

Mar 2026-0.3%

Jun 2026—

JBG SMITH Properties · JBGS

Sep 20210.0%

Dec 2021-1.8%

Mar 20220.0%

Jun 20224.0%

Sep 2022-0.6%

Dec 2022-0.6%

Mar 20230.7%

Jun 2023-0.4%

Sep 2023-2.2%

Dec 2023-1.3%

Mar 2024-1.5%

Jun 2024-1.2%

Sep 2024-1.2%

Dec 2024-2.9%

Mar 2025-2.3%

Jun 2025-1.1%

Sep 2025-1.7%

Dec 2025-2.9%

Mar 2026-1.3%

Jun 2026—

Safehold Inc. · SAFE

Sep 202110%

Dec 20212.6%

Mar 20221.8%

Jun 20221.7%

Sep 20225.5%

Dec 20221.4%

Mar 20230.2%

Jun 20231.3%

Sep 2023-6.0%

Dec 20231.9%

Mar 20241.5%

Jun 20241.4%

Sep 20241.0%

Dec 20241.2%

Mar 20251.3%

Jun 20251.3%

Sep 20251.4%

Dec 20251.4%

Mar 20261.3%

Jun 20261.4%

VICI Properties Inc. · VICI

Sep 20211.5%

Dec 20212.6%

Mar 20221.9%

Jun 2022-0.4%

Sep 20222.0%

Dec 20223.6%

Mar 20232.7%

Jun 20233.0%

Sep 20232.4%

Dec 20233.2%

Mar 20242.4%

Jun 20243.0%

Sep 20242.9%

Dec 20242.4%

Mar 20252.1%

Jun 20253.3%

Sep 20252.8%

Dec 20252.2%

Mar 20263.2%

Jun 20261.9%

W. P. Carey Inc. · WPC

Sep 20211.9%

Dec 20211.4%

Mar 20222.2%

Jun 20221.7%

Sep 20221.3%

Dec 20222.5%

Mar 20233.5%

Jun 20231.7%

Sep 20231.4%

Dec 20231.6%

Mar 20241.8%

Jun 20241.6%

Sep 20241.3%

Dec 20240.5%

Mar 20251.5%

Jun 20250.6%

Sep 20251.7%

Dec 20251.9%

Mar 20262.1%

Jun 20262.2%

ROE change · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+4.1 pp

Dec 2022+1.3 pp

Mar 2023−0.9 pp

Jun 2023−2.0 pp

Sep 2023−4.2 pp

Dec 2023−4.2 pp

Mar 2024+1.5 pp

Jun 2024−1.3 pp

Sep 2024−1.8 pp

Dec 2024+5.9 pp

Mar 2025−2.6 pp

Jun 2025+0.4 pp

Sep 2025+0.8 pp

Dec 2025−3.1 pp

Mar 2026−3.2 pp

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022+0.1 pp

Mar 2023+0.6 pp

Jun 2023+0.2 pp

Sep 2023−0.1 pp

Dec 2023+0.2 pp

Mar 2024+0.4 pp

Jun 20240.0 pp

Sep 2024+0.5 pp

Dec 2024−0.2 pp

Mar 2025+2.6 pp

Jun 2025−0.7 pp

Sep 2025−1.3 pp

Dec 2025−0.6 pp

Mar 2026−4.1 pp

Jun 20260.0 pp

Broadstone Net Lease, Inc. · BNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.2 pp

Dec 20220.0 pp

Mar 2023+0.3 pp

Jun 2023+0.8 pp

Sep 2023+0.7 pp

Dec 2023−1.0 pp

Mar 2024+0.7 pp

Jun 2024−0.9 pp

Sep 2024−0.5 pp

Dec 2024+0.7 pp

Mar 2025−1.5 pp

Jun 2025−0.5 pp

Sep 2025−0.3 pp

Dec 2025+0.2 pp

Mar 2026+0.9 pp

Jun 2026+0.7 pp

CTO Realty Growth, Inc. · CTO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−5.6 pp

Dec 2022−1.2 pp

Mar 2023−1.4 pp

Jun 2023+0.1 pp

Sep 2023−0.5 pp

Dec 2023+2.2 pp

Mar 2024+2.5 pp

Jun 2024−0.2 pp

Sep 2024+0.6 pp

Dec 2024−4.3 pp

Mar 2025−0.8 pp

Jun 2025−4.6 pp

Sep 2025−0.7 pp

Dec 2025+7.6 pp

Mar 2026+0.7 pp

Jun 2026+6.8 pp

Empire State Realty Trust, Inc. · ESRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.2 pp

Dec 2022+1.5 pp

Mar 2023+1.7 pp

Jun 2023−0.7 pp

Sep 2023+0.6 pp

Dec 2023−0.4 pp

Mar 2024−0.1 pp

Jun 2024−0.6 pp

Sep 2024+0.1 pp

Dec 2024+0.2 pp

Mar 2025+0.3 pp

Jun 2025−1.0 pp

Sep 2025−0.5 pp

Dec 2025+0.7 pp

Mar 2026−0.7 pp

Jun 2026−2.8 pp

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.2 pp

Dec 2022−8.5 pp

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023+13.8 pp

Mar 2024−0.1 pp

Jun 2024+1.4 pp

Sep 2024—

Dec 2024−7.6 pp

Mar 2025+0.8 pp

Jun 2025−0.1 pp

Sep 2025—

Dec 2025+1.3 pp

Mar 2026+0.4 pp

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.5 pp

Dec 20220.0 pp

Mar 2023−0.1 pp

Jun 2023−1.6 pp

Sep 2023−0.2 pp

Dec 2023+0.5 pp

Mar 2024+0.2 pp

Jun 2024+1.7 pp

Sep 2024+2.9 pp

Dec 2024+0.9 pp

Mar 2025+0.5 pp

Jun 2025+0.9 pp

Sep 2025−2.2 pp

Dec 2025−0.6 pp

Mar 2026+0.5 pp

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022−0.6 pp

Mar 2023−0.8 pp

Jun 2023−1.8 pp

Sep 2023−7.3 pp

Dec 2023−1.6 pp

Mar 2024−1.1 pp

Jun 2024−0.1 pp

Sep 2024+3.8 pp

Dec 2024+2.1 pp

Mar 2025−7.3 pp

Jun 2025+0.8 pp

Sep 2025−0.4 pp

Dec 2025+2.8 pp

Mar 2026+8.2 pp

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.6 pp

Dec 2022+1.2 pp

Mar 2023+0.7 pp

Jun 2023−4.4 pp

Sep 2023−1.6 pp

Dec 2023−0.7 pp

Mar 2024−2.2 pp

Jun 2024−0.8 pp

Sep 2024+1.0 pp

Dec 2024−1.6 pp

Mar 2025−0.8 pp

Jun 2025+0.1 pp

Sep 2025−0.5 pp

Dec 20250.0 pp

Mar 2026+1.0 pp

Jun 2026—

Safehold Inc. · SAFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−4.6 pp

Dec 2022−1.2 pp

Mar 2023−1.6 pp

Jun 2023−0.4 pp

Sep 2023−11.5 pp

Dec 2023+0.5 pp

Mar 2024+1.3 pp

Jun 2024+0.1 pp

Sep 2024+7.0 pp

Dec 2024−0.7 pp

Mar 2025−0.2 pp

Jun 2025−0.1 pp

Sep 2025+0.4 pp

Dec 2025+0.2 pp

Mar 20260.0 pp

Jun 2026+0.1 pp

VICI Properties Inc. · VICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.5 pp

Dec 2022+1.0 pp

Mar 2023+0.8 pp

Jun 2023+3.4 pp

Sep 2023+0.4 pp

Dec 2023−0.4 pp

Mar 2024−0.3 pp

Jun 20240.0 pp

Sep 2024+0.5 pp

Dec 2024−0.8 pp

Mar 2025−0.3 pp

Jun 2025+0.3 pp

Sep 2025−0.1 pp

Dec 2025−0.2 pp

Mar 2026+1.1 pp

Jun 2026−1.4 pp

W. P. Carey Inc. · WPC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.6 pp

Dec 2022+1.1 pp

Mar 2023+1.3 pp

Jun 20230.0 pp

Sep 2023+0.1 pp

Dec 2023−0.9 pp

Mar 2024−1.7 pp

Jun 2024−0.1 pp

Sep 2024−0.1 pp

Dec 2024−1.1 pp

Mar 2025−0.3 pp

Jun 2025−1.0 pp

Sep 2025+0.4 pp

Dec 2025+1.4 pp

Mar 2026+0.6 pp

Jun 2026+1.6 pp

10 · not available

Gross NPA — Leaders & Improvers

No company in this REIT - Diversified comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 13 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

11 · compare level, then change

Valuation Against Growth & Quality

Safehold Inc. has the lowest P/BV ÷ ROE among the 13 REIT - Diversified companies compared here, at 0.33×. CTO Realty Growth, Inc. is next at 0.51×. The same company also holds the lowest P/BV, at 0.46×. 9 of 13 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Safehold Inc. has the lowest comparable P/BV ÷ ROE at 0.33×, 35.3% below CTO Realty Growth, Inc.. Only 9 of 13 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderSafehold Inc. · 0.33×

Gap35.3% versus #2 · CTO Realty Growth, Inc.

Persistence0/8 recent comparable periods

Coverage9/13 companies · 175 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

P/BV ÷ ROElowest return-adjusted price

1Safehold Inc. SAFE0.3

2CTO Realty Growth, Inc. CTO0.5

3VICI Properties Inc. VICI0.5

4One Liberty Properties, Inc. OLP0.7

5W. P. Carey Inc. WPC0.9

P/BVlowest P/BV

1Safehold Inc. SAFE0.5

2AH REALTY TRUST INC AHRT0.7

3JBG SMITH Properties JBGS0.8

4FrontView REIT, Inc. FVR0.8

5Empire State Realty Trust, Inc. ESRT0.8

Valuation · company comparison

9/13 level · 13/13 change

All-company data · latest reported quarter

Company	P/BV ÷ ROE	P/BV	Reported
FrontView REIT, Inc. FVR	8.3	0.8	Mar 2026
Empire State Realty Trust, Inc. ESRT	4.2	0.8	Jun 2026
American Assets Trust, Inc. AAT	2.3	1.4	Jun 2026
Gladstone Commercial Corporation GOOD	1.7	3.4	Mar 2026
Broadstone Net Lease, Inc. BNL	1.1	1.4	Jun 2026
JBG SMITH Properties JBGS	0.9	0.8	Mar 2026
W. P. Carey Inc. WPC	0.9	1.9	Jun 2026
One Liberty Properties, Inc. OLP	0.7	1.5	Mar 2026
VICI Properties Inc. VICI	0.5	1.0	Jun 2026
CTO Realty Growth, Inc. CTO	0.5	1.2	Jun 2026
Global Net Lease, Inc. GNL	0.5	1.3	Mar 2026
Safehold Inc. SAFE	0.3	0.5	Jun 2026
AH REALTY TRUST INC AHRT	—	0.7	Mar 2026

Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

American Assets Trust, Inc. · AAT

Sep 20211.8

Dec 20212.0

Mar 20221.7

Jun 20221.3

Sep 20220.9

Dec 20221.3

Mar 20230.6

Jun 20230.7

Sep 20230.8

Dec 20231.0

Mar 20240.5

Jun 20240.9

Sep 20240.8

Dec 20241.4

Mar 20250.2

Jun 20251.7

Sep 20252.1

Dec 20252.5

Mar 20261.7

Jun 20262.3

Broadstone Net Lease, Inc. · BNL

Sep 20211.3

Dec 20211.3

Mar 20221.2

Jun 20221.1

Sep 20221.0

Dec 20220.8

Mar 20230.7

Jun 20230.5

Sep 20230.5

Dec 20235.3

Mar 20240.5

Jun 20240.9

Sep 20241.0

Dec 20241.1

Mar 20251.8

Jun 20251.7

Sep 20251.3

Dec 20251.0

Mar 20260.8

Jun 20261.1

CTO Realty Growth, Inc. · CTO

Sep 20210.1

Dec 20211.7

Mar 20229.3

Jun 20222.9

Sep 20220.7

Dec 2022—

Mar 2023—

Jun 20232.0

Sep 20231.3

Dec 20230.6

Mar 20240.7

Jun 20244.1

Sep 20240.8

Dec 2024—

Mar 20252.6

Jun 2025—

Sep 20251.9

Dec 20250.2

Mar 20261.0

Jun 20260.5

Empire State Realty Trust, Inc. · ESRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20220.4

Sep 20221.9

Dec 20220.9

Mar 20231.6

Jun 20230.6

Sep 20231.1

Dec 20231.8

Mar 20242.8

Jun 20241.0

Sep 20241.4

Dec 20241.5

Mar 20251.4

Jun 20252.2

Sep 20251.6

Dec 20250.6

Mar 20264.2

Jun 2026—

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20250.5

Dec 2025—

Mar 20268.3

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 20213.3

Dec 20216.1

Mar 20224.5

Jun 20228.8

Sep 20224.1

Dec 20224.6

Mar 20233.4

Jun 2023—

Sep 20235.6

Dec 20232.7

Mar 20243.8

Jun 20248.1

Sep 20241.3

Dec 20241.9

Mar 20252.5

Jun 20252.7

Sep 20252.7

Dec 20251.9

Mar 20261.7

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 20212.0

Dec 2021—

Mar 20221.5

Jun 2022—

Sep 20220.8

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20250.5

Mar 2026—

Jun 2026—

JBG SMITH Properties · JBGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20220.2

Sep 2022—

Dec 2022—

Mar 20230.9

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

One Liberty Properties, Inc. · OLP

Sep 20211.0

Dec 20211.1

Mar 20220.7

Jun 20220.3

Sep 20220.6

Dec 20220.5

Mar 20230.9

Jun 20230.6

Sep 20231.4

Dec 20230.3

Mar 20240.9

Jun 20240.5

Sep 20241.1

Dec 20240.5

Mar 20251.3

Jun 20250.5

Sep 20250.4

Dec 20251.8

Mar 20260.7

Jun 2026—

Safehold Inc. · SAFE

Sep 20210.6

Dec 20212.5

Mar 20221.5

Jun 20220.9

Sep 20220.2

Dec 20220.6

Mar 20234.4

Jun 20230.5

Sep 2023—

Dec 20230.4

Mar 20240.4

Jun 20240.4

Sep 20240.8

Dec 20240.5

Mar 20250.4

Jun 20250.4

Sep 20250.3

Dec 20250.3

Mar 20260.3

Jun 20260.3

VICI Properties Inc. · VICI

Sep 20211.0

Dec 20210.6

Mar 20220.7

Jun 2022—

Sep 20220.7

Dec 20220.4

Mar 20230.5

Jun 20230.5

Sep 20230.5

Dec 20230.4

Mar 20240.5

Jun 20240.4

Sep 20240.5

Dec 20240.5

Mar 20250.6

Jun 20250.4

Sep 20250.5

Dec 20250.5

Mar 20260.3

Jun 20260.5

W. P. Carey Inc. · WPC

Sep 20211.0

Dec 20211.4

Mar 20220.9

Jun 20221.2

Sep 20221.3

Dec 20220.7

Mar 20230.5

Jun 20230.9

Sep 20230.9

Dec 20231.0

Mar 20240.8

Jun 20240.9

Sep 20241.2

Dec 20242.8

Mar 20251.1

Jun 20252.8

Sep 20251.1

Dec 20250.9

Mar 20260.9

Jun 20260.9

P/BV · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AH REALTY TRUST INC · AHRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.7

Jun 2026—

American Assets Trust, Inc. · AAT

Sep 20211.8

Dec 20211.8

Mar 20221.9

Jun 20221.5

Sep 20221.3

Dec 20221.3

Mar 20230.9

Jun 20231.0

Sep 20231.0

Dec 20231.1

Mar 20241.1

Jun 20241.1

Sep 20241.4

Dec 20241.4

Mar 20251.0

Jun 20251.0

Sep 20251.1

Dec 20251.0

Mar 20261.0

Jun 20261.4

Broadstone Net Lease, Inc. · BNL

Sep 20211.6

Dec 20211.6

Mar 20221.4

Jun 20221.3

Sep 20221.0

Dec 20221.0

Mar 20231.0

Jun 20230.9

Sep 20230.9

Dec 20231.1

Mar 20241.0

Jun 20241.0

Sep 20241.2

Dec 20241.0

Mar 20251.1

Jun 20251.0

Sep 20251.2

Dec 20251.2

Mar 20261.2

Jun 20261.4

CTO Realty Growth, Inc. · CTO

Sep 20210.7

Dec 20210.8

Mar 20220.9

Jun 20220.9

Sep 20220.8

Dec 20220.8

Mar 20230.8

Jun 20230.8

Sep 20230.8

Dec 20230.9

Mar 20240.8

Jun 20240.8

Sep 20241.0

Dec 20241.0

Mar 20251.0

Jun 20251.0

Sep 20251.0

Dec 20251.1

Mar 20261.1

Jun 20261.2

Empire State Realty Trust, Inc. · ESRT

Sep 20211.7

Dec 20211.5

Mar 20221.7

Jun 20221.2

Sep 20221.1

Dec 20221.1

Mar 20231.1

Jun 20231.3

Sep 20231.3

Dec 20231.6

Mar 20241.7

Jun 20241.5

Sep 20241.8

Dec 20241.7

Mar 20251.3

Jun 20251.3

Sep 20251.3

Dec 20251.1

Mar 20260.8

Jun 2026—

FrontView REIT, Inc. · FVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20241.0

Mar 20250.6

Jun 20250.7

Sep 20250.8

Dec 20250.8

Mar 20260.8

Jun 2026—

Gladstone Commercial Corporation · GOOD

Sep 20213.9

Dec 20214.9

Mar 20224.0

Jun 20223.5

Sep 20222.9

Dec 20223.7

Mar 20232.7

Jun 20232.7

Sep 20232.8

Dec 20233.5

Mar 20243.8

Jun 20244.1

Sep 20244.2

Dec 20244.2

Mar 20253.8

Jun 20253.8

Sep 20253.3

Dec 20253.0

Mar 20263.4

Jun 2026—

Global Net Lease, Inc. · GNL

Sep 20211.0

Dec 20211.0

Mar 20221.0

Jun 20221.0

Sep 20220.8

Dec 20220.9

Mar 20231.0

Jun 20230.8

Sep 20230.8

Dec 20230.9

Mar 20240.7

Jun 20240.7

Sep 20240.9

Dec 20240.8

Mar 20251.0

Jun 20250.9

Sep 20251.1

Dec 20251.1

Mar 20261.3

Jun 2026—

JBG SMITH Properties · JBGS

Sep 20211.2

Dec 20211.3

Mar 20221.3

Jun 20221.0

Sep 20220.8

Dec 20220.8

Mar 20230.6

Jun 20230.6

Sep 20230.6

Dec 20230.7

Mar 20240.7

Jun 20240.7

Sep 20240.8

Dec 20240.7

Mar 20250.8

Jun 20250.8

Sep 20251.1

Dec 20250.9

Mar 20260.8

Jun 2026—

Safehold Inc. · SAFE

Sep 20215.8

Dec 20216.5

Mar 20222.6

Jun 20221.5

Sep 20221.1

Dec 20220.8

Mar 20230.9

Jun 20230.7

Sep 20230.6

Dec 20230.8

Mar 20240.6

Jun 20240.6

Sep 20240.8

Dec 20240.6

Mar 20250.6

Jun 20250.5

Sep 20250.5

Dec 20250.4

Mar 20260.4

Jun 20260.5

VICI Properties Inc. · VICI

Sep 20211.5

Dec 20211.6

Mar 20221.4

Jun 20221.3

Sep 20221.3

Dec 20221.4

Mar 20231.4

Jun 20231.3

Sep 20231.2

Dec 20231.3

Mar 20241.2

Jun 20241.2

Sep 20241.3

Dec 20241.2

Mar 20251.3

Jun 20251.3

Sep 20251.3

Dec 20251.1

Mar 20261.0

Jun 20261.0

W. P. Carey Inc. · WPC

Sep 20211.8

Dec 20212.0

Mar 20222.0

Jun 20222.1

Sep 20221.6

Dec 20221.8

Mar 20231.7

Jun 20231.5

Sep 20231.2

Dec 20231.6

Mar 20241.4

Jun 20241.4

Sep 20241.6

Dec 20241.4

Mar 20251.7

Jun 20251.7

Sep 20251.8

Dec 20251.7

Mar 20261.8

Jun 20261.9

12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This REIT - Diversified comparison names 6 specific ways its own evidence can mislead, all listed below. All 13 companies here report on comparable dates, so no rank carries a stale marker. 2 of the 7 ranked sections have fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.

13 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 13 REIT - Diversified companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-04. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-08-04 · weekly price and relative-strength history

Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

14 · questions investors ask, short speakable answers

REIT - Diversified company comparison FAQs

These 21 answers restate the REIT - Diversified comparison above in question form. Every one is computed from the same 13 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-04. Nothing here is estimated, and none of it is a recommendation.

Is the REIT - Diversified sector outperforming S&P 500?

Which REIT - Diversified company is largest by income?

JBG SMITH Properties leads with income of $506 million, based on 6 of 13 comparable companies through Mar 2026.

Which REIT - Diversified company is growing fastest?

One Liberty Properties, Inc. has the fastest current income growth at 10.9%, across 5 of 13 comparable companies.

Which REIT - Diversified company has the strongest 4-Factor Sector Score?

CTO Realty Growth, Inc. ranks first at 57.4/100 with 60.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which REIT - Diversified company has the lowest comparable P/BV-to-ROE?

Safehold Inc. has the lowest comparable P/BV ÷ ROE at 0.33, among 9 of 13 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this REIT - Diversified comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which REIT - Diversified company is the biggest?

JBG SMITH Properties is the largest, with trailing-twelve-month income of $506 million, ahead of Global Net Lease, Inc. at $472 million. That covers 6 of 13 companies with comparable reporting through Mar 2026.

Which REIT - Diversified company makes the most profit?

One Liberty Properties, Inc. earns the most, at $28 million of trailing-twelve-month net profit, from 6 of 13 comparable companies. One Liberty Properties, Inc. has the fastest profit growth at -6.7%, though growth off a small or recovering profit base overstates how much has actually changed.

Which REIT - Diversified company earns the highest return on capital?

One Liberty Properties, Inc. leads on return on assets at 1.6%, across 12 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which REIT - Diversified stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Safehold Inc. screens cheapest at 0.33×. Only 9 of 13 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the REIT - Diversified sector beating the market?

REIT - Diversified has underperformed S&P 500 by 12.2% over the last 52 weeks and 4.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 13 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which REIT - Diversified stock has the strongest price momentum?

FrontView REIT, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which REIT - Diversified company scores highest for research priority?

CTO Realty Growth, Inc. scores 57.4 out of 100 with 60.2% evidence confidence, from 19.8 points on growth and earnings, 11.8 on capital efficiency, 8 on valuation and 17.8 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many REIT - Diversified companies does this comparison cover, and over what period?

It compares 13 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the REIT - Diversified sector?

The 13 REIT - Diversified companies on this page carry $60,260 million of combined market value. VICI Properties Inc. is the largest at $29,278 million, about 49% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

What is the REIT - Diversified sector's P/B ratio?

The median price-to-book ratio across the 13 REIT - Diversified companies on this page is 1.2×, measured on the 13 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

How is the REIT - Diversified sector performing?

3 of the 13 covered REIT - Diversified companies are beating S&P 500 on Mansfield relative strength. The sector itself is 12.2% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

How many REIT - Diversified stocks are listed in the US?

This comparison covers 13 listed REIT - Diversified companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.