NNN REIT Inc (NNN) AI Stock Analysis

NNN REIT Inc focuses its investments on high-quality retail properties primarily secured by long-term, net leases. As of September 30, 2020, its portfolio included 3,114 properties spread across 48 states in the United States, representing approximately 32.4 million square feet of gross leasable area. Its leases had a weighted average remaining term of approximately 10.7 years. Under its net lease model, tenants are typically responsible for property taxes, insurance, and maintenance costs in addition to base rent, which supports stable cash flows and helps reduce operational property management risks.

From FY2021 to FY2025, revenue grew from $726.4M to $926.2M, achieving a 5-year revenue CAGR of 7.0%. Annual net income rose from $290.1M in FY2021 to $389.8M in FY2025, while EPS shifted from $1.65 to $2.00 after reaching $2.10 in FY2023. Operating margin was 61.5% in FY2025 compared to 66.5% in FY2024, and gross margin moved to 38.0% from 96.3% in FY2024. For the trailing twelve months ended June 30, 2026, revenue was $953.2M with a net profit margin of 40.4%. In the latest quarter, revenue grew 7.7% year-over-year, while quarterly earnings declined 3.7%.

As of June 30, 2026, NNN REIT Inc held $4.2M in cash and short-term investments against total debt of $5.00B, resulting in net debt of $5.00B and a debt-to-equity ratio of 1.12. Total assets stood at $9.61B compared to shareholders' equity of $4.46B, with a current ratio of 0.66. Operating cash flow and free cash flow both totaled $667.1M in FY2025. Cash uses during FY2025 included $937.1M in capital expenditures and $443.2M in dividends paid, alongside $85.4M raised through share issuance.

NNN REIT Inc trades at a trailing P/E of 20.6x and a forward P/E of 20.4x, below the medians of 21.6x and 23.5x for its US-listed Real Estate peers. Its EV/EBITDA of 14.8x is near the peer median of 14.7x, whereas its price-to-sales multiple of 8.4x stands above the peer median of 3.7x. Over the past year, the stock returned 3.9%, trailing the S&P 500 return of 16.8%. Over five years, NNN returned 18.0%, compared to an 83.0% return for the S&P 500.

NNN REIT Inc has paid dividends for 42 consecutive years, distributing payments on a quarterly basis. It has an annual forward dividend of $2.48, representing a dividend yield of 5.97%, with a 5-year annualized dividend growth rate of 2.7%. Its payout ratio is 102.1%, and its last ex-dividend date was October 30, 2026.

Wall Street analyst ratings include 2 Strong Buy, 1 Buy, 12 Hold, and 3 Sell recommendations. The mean price target is $46.75, which sits 12.5% above the last close of $41.54. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $979.3M and EPS of $2.06, representing 3.6% earnings growth. NNN beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of NNN REIT Inc (NNN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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