NNN REIT (NYSE:NNN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

by · The Markets Daily

NNN REIT (NYSE:NNN – Get Free Report) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01, Briefing.com reports. The firm had revenue of $238.40 million during the quarter, compared to analysts’ expectations of $233.37 million. NNN REIT had a net margin of 43.22% and a return on equity of 8.95%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. NNN REIT updated its FY 2026 guidance to 3.470-3.530 EPS.

Here are the key takeaways from NNN REIT’s conference call:

  • Reported strong results with Q4 core FFO and AFFO of $0.87 (+6.1% YoY), a full‑year AFFO per share of $3.44 (+2.7% YoY), and a 36th consecutive dividend increase to $0.60 (3.4% YoY); 2026 AFFO guidance midpoint implies ~3.2% growth.
  • Record acquisition activity in 2025 (>$900M total; Q4: ~$180M across 55 properties at a 7.4% initial cash cap, >18‑year average lease term) and a planned largely self‑funded $600M acquisition program in 2026 funded by ~$210M retained cash, ~$130M dispositions and leverage‑neutral debt.
  • Balance sheet and liquidity are highlighted as strengths—BBB+ rating, no encumbered assets, $1.2 billion available liquidity, 10.8‑year weighted average debt maturity and just 1% floating‑rate debt—management says this supports resilience amid macro uncertainty.
  • Portfolio health improved with occupancy up to 98.3% and management reports no material watchlist changes, but several furniture and restaurant vacancies remain (32 restaurant assets, 5 furniture) and the company is conservatively modeling 75 bps of bad‑debt for 2026.

NNN REIT Stock Up 0.5%

Shares of NYSE:NNN traded up $0.20 during trading on Wednesday, hitting $43.51. 276,595 shares of the company were exchanged, compared to its average volume of 1,432,480. The firm has a fifty day moving average price of $40.98 and a two-hundred day moving average price of $41.54. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 3.05 and a beta of 0.86. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.10. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $44.23.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, January 30th. NNN REIT’s dividend payout ratio (DPR) is currently 115.38%.

Analyst Upgrades and Downgrades

NNN has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. UBS Group reduced their price target on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft upgraded NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, January 20th. Barclays lowered their price target on NNN REIT from $44.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, October 20th. Finally, Evercore cut their price objective on NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a report on Monday, December 15th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NNN REIT has a consensus rating of “Hold” and an average price target of $43.71.

Check Out Our Latest Stock Analysis on NNN REIT

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in shares of NNN REIT by 11.0% in the third quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 567 shares in the last quarter. Captrust Financial Advisors grew its stake in NNN REIT by 3.5% during the second quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock valued at $4,977,000 after acquiring an additional 3,897 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in NNN REIT by 65.0% in the third quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after purchasing an additional 30,333 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

NNN REIT Company Profile

(Get Free Report)

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.

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