National Retail Properties, Inc. (NNN)

US — Real Estate Sector
Peers: ADC  FRT  REG  NTST  KIM  WPC  UHT  ESS  EPR 

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Key Metrics & Ratings

  • symbol NNN
  • Rev/Share 4.7877
  • Book/Share 23.3438
  • PB 1.7426
  • Debt/Equity 0.0
  • CurrentRatio 0.0
  • ROIC 68.5708

 

  • MktCap 7679651760.0
  • FreeCF/Share 3.4622
  • PFCF 11.8694
  • PE 19.3545
  • Debt/Assets 0.0
  • DivYield 0.0575
  • ROE 0.09

 

  • Rating B+
  • Score 3
  • Recommendation Neutral
  • P/E Score 2
  • DCF Score 5
  • P/B Score 2
  • D/E Score 1

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Downgrade NNN Barclays Overweight Underweight -- $44 July 22, 2025
Initiation NNN Evercore ISI -- In-line -- $42 Jan. 31, 2025
Upgrade NNN Morgan Stanley Equal Weight Overweight -- $48 Jan. 15, 2025
Downgrade NNN Janney Buy Neutral -- $43 Jan. 15, 2025
Downgrade NNN Jefferies Buy Hold $52 $43 Jan. 2, 2025
Initiation NNN Barclays -- Overweight -- $48 Dec. 17, 2024
Initiation NNN Deutsche Bank -- Hold -- $46 Dec. 11, 2024
Reiterated NNN B. Riley Securities -- Buy $49 $46.5 Dec. 4, 2024

News

The Only 2 Places I'd Put Big Money For Income And Growth Right Now
ADC, AM, APO, BIP, BIPC, BN, CAT, CMI, CNI, CP, CSX, ENB, EPRT, ET, IGF, LINE, MPLX, NEE, NNN, O, OKE, OWL, PLD, REXR, TRP
Published: August 18, 2025 by: Seeking Alpha
Sentiment: Positive

I hunt investments that combine safety, income, and growth, avoiding hype and focusing on long-term, high-quality opportunities. Some areas are unloved and undervalued, offering income, potential growth, and protection against inflation, perfect for patient investors. I seek places with professional management, liquidity, and dual potential, giving me both steady income and the chance for capital gains.

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image for news The Only 2 Places I'd Put Big Money For Income And Growth Right Now
5 U.S. REITs Raise Dividend Payments In July
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Published: August 12, 2025 by: Seeking Alpha
Sentiment: Positive

Five publicly-listed real estate investment trusts in the US increased regular dividends in July, S&P Global Market Intelligence data shows. The dividend hikes in July brought the number of public US REITs that have declared regular dividend increases during the first seven months of the year to 49 companies, representing 31.2% of the REIT industry. Seven Canadian REITs, or 15.9% of the total, have increased their regular dividend payments year to date.

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Here's What Key Metrics Tell Us About NNN REIT (NNN) Q2 Earnings
NNN
Published: August 05, 2025 by: Zacks Investment Research
Sentiment: Positive

The headline numbers for NNN REIT (NNN) give insight into how the company performed in the quarter ended June 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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image for news Here's What Key Metrics Tell Us About NNN REIT (NNN) Q2 Earnings
NNN REIT (NNN) Q2 FFO and Revenues Top Estimates
NNN
Published: August 05, 2025 by: Zacks Investment Research
Sentiment: Positive

NNN REIT (NNN) came out with quarterly funds from operations (FFO) of $0.85 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to FFO of $0.84 per share a year ago.

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image for news NNN REIT (NNN) Q2 FFO and Revenues Top Estimates
2 Wonderful Dividends To Buy For A Weakening Economy
NEE, NNN
Published: August 04, 2025 by: Seeking Alpha
Sentiment: Positive

Economic concerns and increasingly likely Fed rate cuts make defensive, high-quality dividend growth stocks especially attractive in the current environment. I discuss 2 stocks that are particularly well-suited to the current environment. I detail why they are so attractively priced right now.

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NNN REIT: Reliable Dividends, Modest Growth, Conservative Stock
NNN
Published: July 29, 2025 by: Seeking Alpha
Sentiment: Positive

NNN REIT offers stable, conservative yields and a strong dividend growth track record, making it a solid choice for risk-averse, income-focused investors. The portfolio is highly diversified across resilient retail segments, with no major tenant concentration and a disciplined triple-net lease structure. While the risk profile is generally low, some exposure to cyclical and lower-credit tenants introduces minor risks compared to bond-like alternatives.

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image for news NNN REIT: Reliable Dividends, Modest Growth, Conservative Stock
NNN REIT: I'm Buying This Bargain For Recurring Income
NNN
Published: July 28, 2025 by: Seeking Alpha
Sentiment: Positive

NNN REIT offers a compelling 5.6% yield, 35 years of dividend growth, and trades at a discounted 12.6x P/FFO, below its historical average. The portfolio is highly diversified, recession-resistant, and benefits from a net lease structure, supporting high operating margins and stable cash flows. Management is executing well on acquisitions and tenant re-leasing, with minimal impact from recent vacancies and a robust balance sheet with conservative leverage.

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image for news NNN REIT: I'm Buying This Bargain For Recurring Income
NNN: 5.6% Safe Dividend With A Sprinkle Of Growth
NNN
Published: July 28, 2025 by: Seeking Alpha
Sentiment: Positive

NNN has been a tremendous success, managing to raise their dividend for 35 years in a row. Currently the company is trading at a low valuation despite no major issues, and is still managing very much fine even in higher interest rates enviromnent. Even with growth slowing a bit, I think the valuation is low enough to offers decent chances of good returns in the future.

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image for news NNN: 5.6% Safe Dividend With A Sprinkle Of Growth
2 REITs To Buy Before September 17th, 2025
ADC, EPR, EPRT, GTY, NNN, O, SAFE
Published: July 17, 2025 by: Seeking Alpha
Sentiment: Positive

The Fed is expected to cut interest rates on September 17th, 2025. This could lead to significant upside in the REIT sector. I highlight two REITs that present significant upside potential.

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image for news 2 REITs To Buy Before September 17th, 2025
I'm Building Passive Income With 2 Dividend Aristocrats
CVX, NNN, XOM
Published: July 08, 2025 by: Seeking Alpha
Sentiment: Positive

Building a meaningful passive income stream can be a great achievement, enabling wealth to snowball. I highlight 2 Dividend Aristocrats that carry competitive advantages and which could outshine over the long run. Both companies carry strong balance sheets, offer well-covered dividends, and trade at attractive valuations.

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image for news I'm Building Passive Income With 2 Dividend Aristocrats
5-9% Yields To Build A Low-Stress Dividend Income Stream
AMLP, ARCC, BAM, BEP, BEPC, BIP, BIPC, BIZD, BX, CWEN, DGRO, ENB, EPD, EPRT, ET, JEPI, JEPQ, MAIN, MSDL, NNN, O, QQQI, SCHD, SPYI, TRP
Published: June 22, 2025 by: Seeking Alpha
Sentiment: Positive

Building a low-stress retirement income stream requires a diversified portfolio of durable, defensive, and dividend-growing stocks or funds. I share two approaches to achieving a low-stress dividend growth portfolio that yields 5-9%. I detail which of the two approaches is my favorite, as well as some of my top big dividend growth picks for retirees right now.

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image for news 5-9% Yields To Build A Low-Stress Dividend Income Stream
What I Wish I Knew Before Buying BDCs, REITs, And MLPs
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Published: June 19, 2025 by: Seeking Alpha
Sentiment: Neutral

BDCs, REITs, and MLPs offer attractive, sustainable yields due to pass-through structures and stable cash flow profiles. However, each of these sectors has its own unique quirks. I discuss several of these that are often overlooked by investors.

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image for news What I Wish I Knew Before Buying BDCs, REITs, And MLPs
Dividend Harvesting Portfolio Week 224: $22,400 Allocated, $2,349.12 In Projected Dividends
BP, BSTZ, ENB, MO, MSTY, NNN, QQQI, VICI
Published: June 19, 2025 by: Seeking Alpha
Sentiment: Positive

Despite a market pullback, my Dividend Harvesting Portfolio delivered positive returns and increased income, showcasing the benefits of diversification and disciplined reinvestment. I added to VICI, NNN, BSTZ, and MSTY, targeting high-yield, stable, and discounted assets poised to benefit from future Fed rate cuts and sector trends. The portfolio's forward dividend income and YoY growth remain strong, with reinvestment and sector allocation driving compounding income and downside risk mitigation.

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image for news Dividend Harvesting Portfolio Week 224: $22,400 Allocated, $2,349.12 In Projected Dividends
NNN REIT: Let's Get Serious About Recycling Capital
NNN
Published: June 05, 2025 by: Seeking Alpha
Sentiment: Positive

NNN's traditional buy-and-hold net lease model faces challenges from rising interest rates and tenant credit issues, causing recent underperformance. A creative approach to capital management—selling investment-grade assets and recycling proceeds into higher-yield opportunities—could unlock shareholder value. NNN could also consider share repurchases, leveraging the spread between disposition cap rates and AFFO yield to boost earnings accretion.

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image for news NNN REIT: Let's Get Serious About Recycling Capital
NNN REIT: Tenant Headwinds Linger, But Price And Dividend Profile Remain Attractive
NNN
Published: June 03, 2025 by: Seeking Alpha
Sentiment: Neutral

NNN REIT remains a buy for long-term income investors, thanks to strong fundamentals and a conservative dividend profile despite recent tenant headwinds. Tenant issues with Badcock Furniture and Frisch's Big Boy have weighed on occupancy and share price, but management expects resolution by year-end. NNN's low AFFO payout ratio and ample free cash flow provide flexibility and support for continued dividend growth, even in uncertain economic conditions.

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image for news NNN REIT: Tenant Headwinds Linger, But Price And Dividend Profile Remain Attractive
2 High-Yield Stocks for a Lifetime of Safe Income
NNN, VZ
Published: June 02, 2025 by: 24/7 Wall Street
Sentiment: Positive

High-yield dividend stocks, offering 5% or more, provide substantial income and inflation protection, but risk unsustainable payouts if fundamentals are weak.

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image for news 2 High-Yield Stocks for a Lifetime of Safe Income
NNN: Outperforming The Market In 2025 While Offering Stability And Yield
NNN
Published: May 26, 2025 by: Seeking Alpha
Sentiment: Positive

NNN REIT offers stability, high occupancy, and 35 years of dividend growth, making it ideal for income-focused investors seeking passive real estate exposure. The triple net lease structure minimizes landlord responsibilities, while disciplined acquisitions and conservative debt management support long-term resilience. NNN trades at attractive valuations versus peers, with a 5.64% dividend yield and strong coverage, providing both income and potential capital appreciation.

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image for news NNN: Outperforming The Market In 2025 While Offering Stability And Yield
Buy These 3 Passive Income Machines On Sale Now
CVX, NNN, PRU
Published: May 23, 2025 by: Seeking Alpha
Sentiment: Positive

Chevron, NNN REIT, and Prudential Financial offer high-quality, dividend growth with yields averaging 5.4% and strong credit ratings. Each stock is trading at a 16%-21% discount to fair value, positioning them for 15%-20% annual total returns through 2027. These companies have long dividend growth streaks, robust balance sheets, and payout ratios that support continued dividend increases.

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image for news Buy These 3 Passive Income Machines On Sale Now
3 REITs Likely To Crush It If Rates Fall
NNN, SAFE, VNO
Published: May 19, 2025 by: Seeking Alpha
Sentiment: Positive

We expect significant rate cuts over the coming year. This should serve as a strong catalyst for REITs. Some will benefit more than others. We highlight three big winners.

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When Your REIT Will Cut Its Dividend
AHH, BRT, BXP, CCI, CPT, CSR, DEI, FRT, HPP, IIPR, ILPT, IRT, KIM, MPW, NNN, NXRT, ONL, PINE, REG, REXR, SLG, SUI, VICI, WPC, WSR
Published: May 19, 2025 by: Seeking Alpha
Sentiment: Negative

When Your REIT Will Cut Its Dividend

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A Ranking Of Net-Lease REITs By Investment Spread For Q1 2025
ADC, ARE, EPRT, GLPI, NNN, O, STAG, VICI, WPC
Published: May 08, 2025 by: Seeking Alpha
Sentiment: Neutral

In Q1 2025, VICI, GLPI, Agree, and Realty Income generated positive investment spreads and total returns exceeding their cost of equity, making them attractive investments. EPRT and STAG have negative investment spreads and total returns below their cost of equity, making them less favorable investment options. This analysis uses cap rates and the weighted average cost of capital to estimate investment spreads. We also compare total returns to the cost of equity to measure accretion.

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image for news A Ranking Of Net-Lease REITs By Investment Spread For Q1 2025
Correction Alert: Popular Dividend Growth Stocks Due For A Sharp Pullback
ADC, EPRT, NNN, O
Published: May 07, 2025 by: Seeking Alpha
Sentiment: Negative

These 2 popular dividend growth stocks could decline by 10%+. Here's why we're avoiding them. I share two alternative peers that are more reasonably valued.

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image for news Correction Alert: Popular Dividend Growth Stocks Due For A Sharp Pullback
NNN REIT, Inc. (NNN) Q1 2025 Earnings Call Transcript
NNN
Published: May 01, 2025 by: Seeking Alpha
Sentiment: Neutral

NNN REIT, Inc. (NYSE:NNN ) Q1 2025 Results Conference Call May 1, 2025 10:30 AM ET Company Participants Steve Horn - CEO Kevin Habicht - CFO Conference Call Participants Spenser Glimcher - Green Street John Kilichowski - Wells Fargo Michael Goldsmith - UBS Linda Tsai - Jefferies John Massocca - B. Riley Securities Operator Greetings.

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image for news NNN REIT, Inc. (NNN) Q1 2025 Earnings Call Transcript
NNN REIT (NNN) Q1 FFO and Revenues Surpass Estimates
NNN
Published: May 01, 2025 by: Zacks Investment Research
Sentiment: Positive

NNN REIT (NNN) came out with quarterly funds from operations (FFO) of $0.87 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to FFO of $0.84 per share a year ago.

Read More
image for news NNN REIT (NNN) Q1 FFO and Revenues Surpass Estimates
NNN REIT, Inc. Announces First Quarter 2025 Results and Maintains 2025 Guidance
NNN
Published: May 01, 2025 by: PRNewsWire
Sentiment: Neutral

ORLANDO, Fla. , May 1, 2025 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN) (the "Company" or "NNN"), a real estate investment trust, today announced financial and operating results for the quarter ended March 31, 2025.

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image for news NNN REIT, Inc. Announces First Quarter 2025 Results and Maintains 2025 Guidance
3 Brilliant High-Yield Stocks to Buy Now and Hold for the Long Term
NNN, PLD, TD
Published: May 01, 2025 by: The Motley Fool
Sentiment: Positive

The average dividend yield of stocks in the S&P 500 index (^GSPC 0.15%) is just 1.3% or so today, even though the index fell into correction territory earlier in 2025. That speaks to both the still-high level of the market and the volatility that is rampant right now.

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image for news 3 Brilliant High-Yield Stocks to Buy Now and Hold for the Long Term
Buying Income For Life - 3 Of My Favorite Retirement Stocks
ENB, NEE, NNN
Published: April 21, 2025 by: Seeking Alpha
Sentiment: Positive

You don't need to be a millionaire to retire comfortably; most retirees are doing well with significantly less than $1.5 million in savings. The Federal Reserve's survey shows that 86% of retirees aged 65-74 are managing financially, with many living comfortably on savings between $50,000 and $249,000. Social Security benefits and reduced spending in retirement contribute significantly to financial security, making high savings targets less critical for many.

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image for news Buying Income For Life - 3 Of My Favorite Retirement Stocks
Retirement Income: I'm Seeking Treasure In These 7-9% Yields
ARCC, BNL, BXSL, MSDL, NNN, O, OBDC, WPC
Published: March 31, 2025 by: Seeking Alpha
Sentiment: Positive

Income investing can be like treasure hunting in many ways. I detail 2 great income picks that offer high yields that are well-covered by cashflow. Both carry investment grade credit ratings and offer immediate diversification across strong asset classes.

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image for news Retirement Income: I'm Seeking Treasure In These 7-9% Yields
NNN REIT: Income Stability In An Unstable Market
NNN
Published: March 27, 2025 by: Seeking Alpha
Sentiment: Positive

Despite tenant headwinds, NNN REIT shows solid AFFO growth and remains attractive for income-oriented investors with a strong dividend yield and conservative payout ratio. NNN REIT's financial performance is robust, with stable FFO and revenue, despite macroeconomic challenges and tenant issues. The REIT's conservative management, strong cash flow, and low payout ratio ensure consistent income and long-term growth potential.

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image for news NNN REIT: Income Stability In An Unstable Market
Bargain Alert: 2 Big Dividends, Up To 10% Yield
HQH, NNN, THQ
Published: February 28, 2025 by: Seeking Alpha
Sentiment: Positive

Immunize your retirement from market noise with recurring dividends. We discuss two essential sectors for reliable income generation, regardless of economic conditions. Discover our top picks with up to 10% yields.

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image for news Bargain Alert: 2 Big Dividends, Up To 10% Yield

About National Retail Properties, Inc. (NNN)

  • IPO Date 1984-10-09
  • Website https://www.nnnreit.com
  • Industry REIT - Retail
  • CEO Stephen A. Horn Jr.
  • Employees 83

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.