NNN REIT (NYSE:NNN) Posts Earnings Results, Beats Expectations By $0.05 EPS

NNN REIT (NYSE:NNN) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05, FiscalAI reports. The business had revenue of $249.68 million during the quarter, compared to the consensus estimate of $245.37 million. NNN REIT had a net margin of 40.89% and a return on equity of 8.93%.

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

• NNN reported third-quarter AFFO per share of $0.91, up 5.8% year over year, and maintained 2026 AFFO guidance of $3.55–$3.59 per share. The company also announced its 37th consecutive annual dividend increase, raising the quarterly dividend 3.3% to $0.62.
• Portfolio performance remained strong, with 99.2% occupancy, a roughly 10-year weighted average remaining lease term, and above-prior-rent renewals and re-leasing. Management said full-year bad debt is now expected to be about 25 basis points of annualized base rent, better than its prior estimate.
• Higher financing costs prompted NNN to reprice its acquisition pipeline, with cap rates moving up an estimated 30–40 basis points for fourth-quarter deals; some sellers declined the revised terms, contributing to dead-deal costs. Management expects a more subdued near-term acquisition pace, though it anticipates higher yields if market pricing adjusts further.
• NNN reported $1.4 billion of available liquidity, a 9.8-year weighted average debt maturity, and pro forma net debt to EBITDAre of 5.3 times including unsettled forward equity. Management said it can fund acquisitions through existing forward equity, free cash flow, and dispositions while targeting leverage neutrality.

NNN REIT Stock Performance

NNN REIT stock traded down $0.25 on Friday, hitting $41.21. The company’s stock had a trading volume of 1,569,724 shares, compared to its average volume of 1,794,193. NNN REIT has a one year low of $38.90 and a one year high of $50.00. The firm has a market cap of $7.91 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 5.66 and a beta of 0.77. The company has a quick ratio of 1.15, a current ratio of 0.58 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average price of $42.04 and a 200-day moving average price of $44.25.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, October 30th. NNN REIT’s payout ratio is 118.10%.

Analyst Ratings Changes

NNN has been the subject of several recent analyst reports. Evercore set a $47.00 price target on NNN REIT in a research note on Monday, September 21st. Wells Fargo & Company cut their price objective on NNN REIT from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. B. Riley Financial reissued a “neutral” rating and issued a $47.50 price objective (up from $46.00) on shares of NNN REIT in a research note on Wednesday, August 12th. Weiss Ratings lowered NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Huntington began coverage on NNN REIT in a research report on Wednesday. They set a “strong-buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.62.

NNN REIT Company Profile

NNN REIT, Inc is a real estate investment trust that owns and manages a diversified portfolio of freestanding retail properties. The company primarily invests in properties that are leased to retail businesses under long-term, triple-net agreements, under which tenants generally pay property taxes, insurance and maintenance costs in addition to rent.

The company’s properties are used by a range of businesses, including convenience stores, automotive service and parts retailers, restaurants, medical and dental services, drugstores, and other consumer-oriented tenants.