NNN REIT (NYSE:NNN) Announces Earnings Results

Key Points

• NNN REIT reported quarterly EPS of $0.57 and revenue of $249.7 million, both above analyst estimates.
• Third-quarter AFFO per share rose 5.8% year over year to $0.91; the company maintained 2026 AFFO guidance of $3.55–$3.59 per share and raised its quarterly dividend 3.3% to $0.62.
• Portfolio occupancy stood at 99.2%, but higher financing costs are leading NNN to reprice acquisitions and expect a more subdued near-term deal pace.

NNN REIT (NYSE:NNN - Get Free Report) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.05, FiscalAI reports. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%. The business had revenue of $249.68 million during the quarter, compared to analyst estimates of $245.37 million.

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 Down 0.0%

NNN traded down $0.01 during trading on Wednesday, reaching $41.68. The company had a trading volume of 4,775,472 shares, compared to its average volume of 2,751,221. The business's fifty day moving average price is $42.13 and its 200 day moving average price is $44.26. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.15 and a quick ratio of 1.15. NNN REIT has a 12 month low of $38.90 and a 12 month high of $50.00. The company has a market cap of $8.00 billion, a P/E ratio of 20.43, a PEG ratio of 5.67 and a beta of 0.77.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.62 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 6.0%. NNN REIT's payout ratio is currently 121.57%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NNN. B. Riley Financial reiterated a "neutral" rating and issued a $47.50 price objective (up from $46.00) on shares of NNN REIT in a report on Wednesday, August 12th. Wells Fargo & Company lowered their target price 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. Royal Bank Of Canada upped their price objective on shares of NNN REIT from $44.00 to $47.00 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. Barclays cut their price objective on NNN REIT from $47.00 to $43.00 and set an "underweight" rating for the company in a research report on Tuesday, October 20th. Finally, Weiss Ratings downgraded shares of NNN REIT from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NNN REIT has an average rating of "Hold" and an average price target of $46.88.

Key Headlines Impacting NNN REIT

Here are the key news stories impacting NNN REIT this week:

• Positive Sentiment: Third-quarter revenue was $249.7 million, above the roughly $245.4 million consensus, and earnings per share of $0.57 topped the $0.52 estimate. NNN REIT third-quarter 2026 results
• Positive Sentiment: Core FFO rose 5.9% year over year, and occupancy increased as the portfolio grew—signs of continued operating momentum. Q3 earnings beat as occupancy increased and portfolio grows
• Positive Sentiment: Management expects acquisition yields to be higher into early 2027, which could support returns from future investments. NNN sees higher acquisition yields
• Neutral Sentiment: Quarterly FFO of $0.91 per share matched the consensus estimate, though it was up from $0.86 a year earlier. NNN also kept its 2026 AFFO-per-share guidance at $3.55–$3.59, signaling no change to its outlook. NNN REIT Q3 FFO matched estimates

About NNN REIT

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.