National Retail Properties invests primarily in high-quality retail properties generally subject to long-term net leases.
| Revenue (TTM) | $953.25M |
| Gross Profit (TTM) | $916.01M |
| EBITDA | $860.66M |
| Operating Margin | 61.70% |
| Return on Equity | 8.72% |
| Return on Assets | 3.91% |
| Revenue/Share (TTM) | $5.05 |
| Book Value | $23.24 |
| Price-to-Book | 1.94 |
| Price-to-Sales (TTM) | 8.91 |
| EV/Revenue | 14.34 |
| EV/EBITDA | 15.62 |
| Quarterly Earnings Growth (YoY) | -3.70% |
| Quarterly Revenue Growth (YoY) | 7.70% |
| Shares Outstanding | $190.25M |
| Float | $179.71M |
| % Insiders | 0.86% |
| % Institutions | 102.22% |
Volatility is currently expanding
When tenants foot the bill for taxes, insurance, and maintenance, the landlord's job gets a lot simpler and the dividend check gets a lot more predictable.
Some investors have quietly built decades of rising income by owning stocks most people have never heard of, and five Dividend Champions with yields stretching past 7% are now drawing serious attention from Wall Street analysts.
NNN REIT and Agree Realty sent dividend checks on the same date with nearly identical payout ratios, but one number buried in the balance sheet separates a merely solid income stock from a genuinely fortress-grade one.
Most REITs slashed their dividends when 2008 and 2020 hit hardest, but a stubborn handful kept raising checks straight through both collapses.
NNN REIT (NNN) offers a 5.37% yield, 69% payout ratio, and trades at 12.93x 2026 AFFO guidance after a pullback from its 52-week high. Q2 saw occupancy rise to 99.1%, AFFO and revenue beat expectations, and 2026 guidance was raised for the second time this year. NNN's portfolio is resilient, with 89% of ABR from service/non-discretionary retail, 10.1-year average lease/debt term, and $1.4 billion in liquidity.
NNN REIT remains a Buy, offering a sustainable ~5.4% yield and trading at a discount to intrinsic value. NNN delivered strong Q2 results, raising AFFO guidance and maintaining a near-perfect 99.1% occupancy rate with a 10.1-year average lease term. Portfolio expansion continues with disciplined acquisitions at a 7.3% cap rate, while prudent debt management supports balance sheet quality.
Last month, NNN REIT upped its quarterly dividend per share by 3.3%, extending its dividend growth streak to 37 consecutive years. The net lease REIT raised its acquisition volume guidance and core FFO per share guidance for 2026. NNN REIT enjoys a BBB+ S&P credit rating with a stable outlook.
ORLANDO, Fla., Aug. 17, 2026 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN) ("NNN" or the "Company"), a real estate investment trust ("REIT"), today announced that Christina Chiu and Charles "Chaz" D.
NNN REIT, Inc. (NNN) Q2 2026 Earnings Call Transcript
While the top- and bottom-line numbers for NNN REIT (NNN) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
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