NREF vs WELL: Which Is the Better Dividend Stock?
As of September 2026, NREF and WELL are closely matched. NREF offers the higher yield at 11.55%, WELL has the higher dividend-safety score, and NREF trades at the larger discount to fair value (+127%).
| Metric | NREF | WELL |
|---|---|---|
| Forward yield | 11.55% | 1.44% |
| Annual dividend | $2.00 | $3.40 |
| Payout ratio | 85% | 133% |
| Years of growth | 0 yr | 2 yr |
| 5-yr dividend growth | 7.1% | 0.9% |
| 5-yr total return | -11% | 186% |
| Dividend safety score | 44 (D) | 66 (B) |
| Fair value estimate | $40.33 | $93.23 |
| Upside to fair value | +127% | -61% |
| Frequency | quarterly | quarterly |
| Market cap | $398.3M | $169.8B |
| P/E ratio | 7.4 | 105.2 |
Higher yield
NREF
11.55%
Safer dividend
WELL
Grade B
Faster growth
NREF
7.1%
Better value
NREF
+127% upside
NREF vs WELL — FAQ
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