Clarification on Cap Rates

[Scott Prock]

Greetings!

I just read an article by Forbes where the author - Brad Thomas - mentioned something regarding cap rates that has me confused.

Quote - 
"As a REIT analyst, I use cap rates on a daily basis for comparing the values of various buildings that are bought and sold. In general, a lower cap rate indicates there is less risk associated with the investment (due to increased demand) and a higher cap rates can be associated with higher risk alternatives."

I'm not familiar with what an REIT analyst is, but I thought the higher the cap rate the better?!? I mean using the example in the article of a property value of $1,000,000 and a NOI of $100,000 would be 10% I would think if the property's NOI was $200,000 that would be more desirable. Unless my understanding of NOI is incorrect.

Isn't the Net Operating Income the income generated after expenses are deducted, meaning the cash the owner gets after paying the operating costs. (not including the mortgage payment)

Am I misunderstanding something?

... Scott