NNN REIT, Inc. (NNN)vsSBA Communications Corp (SBAC)
NNN
NNN REIT, Inc.
$44.96
+2.23%
REAL ESTATE · Cap: $8.86B
SBAC
SBA Communications Corp
$208.02
+0.08%
REAL ESTATE · Cap: $21.72B
Smart Verdict
WallStSmart Research — data-driven comparison
SBA Communications Corp generates 205% more annual revenue ($2.85B vs $935.78M). NNN leads profitability with a 41.4% profit margin vs 35.7%. NNN appears more attractively valued with a PEG of 4.80. NNN earns a higher WallStSmart Score of 50/100 (D+).
NNN
Hold50
out of 100
Grade: D+
SBAC
Hold49
out of 100
Grade: D+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+39.4%
Fair Value
$71.14
Current Price
$44.96
$26.18 discount
Margin of Safety
+0.8%
Fair Value
$192.43
Current Price
$208.02
$15.59 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Keeps 41 of every $100 in revenue as profit
Strong operational efficiency at 60.6%
Reasonable price relative to book value
Keeps 36 of every $100 in revenue as profit
Strong operational efficiency at 52.4%
Conservative balance sheet, low leverage
Areas to Watch
4.1% revenue growth
Elevated debt levels
Weak financial health signals
Expensive relative to growth rate
ROE of 0.0% — below average capital efficiency
Expensive relative to growth rate
Earnings declined 14.7%
Distress zone — elevated risk
Comparative Analysis Report
WallStSmart ResearchBull Case : NNN
The strongest argument for NNN centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 41.4% and operating margin at 60.6%.
Bull Case : SBAC
The strongest argument for SBAC centers on Profit Margin, Operating Margin, Debt/Equity. Profitability is solid with margins at 35.7% and operating margin at 52.4%.
Bear Case : NNN
The primary concerns for NNN are Revenue Growth, Debt/Equity, Piotroski F-Score.
Bear Case : SBAC
The primary concerns for SBAC are Return on Equity, PEG Ratio, EPS Growth.
Key Dynamics to Monitor
NNN profiles as a value stock while SBAC is a mature play — different risk/reward profiles.
SBAC carries more volatility with a beta of 0.98 — expect wider price swings.
SBAC is growing revenue faster at 5.9% — sustainability is the question.
SBAC generates stronger free cash flow (207M), providing more financial flexibility.
Bottom Line
NNN scores higher overall (50/100 vs 49/100), backed by strong 41.4% margins. Both earn "Hold" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
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.
SBA Communications Corp
REAL ESTATE · REIT - SPECIALTY · USA
SBA Communications Corporation is a real estate investment trust which owns and operates wireless infrastructure in the United States, Canada, Central America, South America, and South Africa.
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