NNN REIT (NYSE:NNN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

NNN REIT (NYSE:NNN) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01, FiscalAI reports. NNN REIT had a return on equity of 8.81% and a net margin of 41.38%.The company had revenue of $244.27 million during the quarter, compared to analysts’ expectations of $240.19 million. NNN REIT updated its FY 2026 guidance to 3.500-3.540 EPS.

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

• 2026 AFFO per share guidance was raised to $3.55–$3.59, with the midpoint increase driven by stronger-than-expected second-quarter results, higher acquisition volume, lower vacancies, and reduced bad-debt assumptions.
• Portfolio performance remained strong, with occupancy reaching 99.1%, uncollected rent below five basis points, AFFO per share up 5.9% year over year, and annualized base rent up more than 7% to $959 million.
• NNN increased its 2026 acquisition guidance midpoint to $750 million from $600 million, supported by a robust pipeline focused on direct sale-leasebacks; first-half investments totaled $430 million across 130 properties at a 7.4% initial cash cap rate.
• The company highlighted substantial financial flexibility, including $1.4 billion of liquidity, a 10.1-year weighted-average debt maturity, only 2.5% floating-rate debt, and pro forma net debt to EBITDA of 5.4x.
• Disposition guidance was raised to a $140 million midpoint as NNN continues recycling capital from vacant and non-core assets, while management expects vacant-asset sales to moderate and most remaining vacancies to be re-leased over time.

NNN REIT Price Performance

Shares of NYSE NNN traded down $0.31 during mid-day trading on Thursday, reaching $47.05. The company’s stock had a trading volume of 562,202 shares, compared to its average volume of 1,629,137. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.63 and a quick ratio of 0.63. NNN REIT has a 52 week low of $38.90 and a 52 week high of $50.00. The stock has a fifty day moving average of $46.78 and a two-hundred day moving average of $44.84. The firm has a market capitalization of $8.95 billion, a PE ratio of 22.84, a P/E/G ratio of 7.27 and a beta of 0.79.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.62 dividend. The ex-dividend date is Friday, July 31st. This is a positive change from NNN REIT’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. NNN REIT’s dividend payout ratio (DPR) is presently 120.39%.

Key Stories Impacting NNN REIT

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

• Positive Sentiment: NNN REIT reported second-quarter 2026 EPS of $0.52, topping the $0.51 consensus estimate, while revenue of $244.27 million exceeded expectations of $240.19 million. Funds from operations (FFO) reached $0.90 per share, up from $0.85 a year earlier and above the $0.89 estimate. NNN REIT Announces Second Quarter 2026 Results
• Positive Sentiment: The company raised or reaffirmed its 2026 outlook, targeting EPS of $3.50 to $3.54 versus the $3.49 analyst consensus. Management also increased the midpoint of its 2026 acquisition target to approximately $750 million and forecast AFFO of $3.55 to $3.59 per share, signaling continued investment and steady growth. NNN REIT Boosts Year Guidance After Q2 Earnings Beat
• Neutral Sentiment: Management’s earnings call emphasized stable operating performance and a constructive growth outlook, but the updates largely reinforce the company’s existing strategy rather than represent a major change in its business profile. National Retail Properties Signals Steady Growth Ahead
• Negative Sentiment: Analysts’ consensus recommendation remains “Hold,” indicating that Wall Street sees limited near-term upside despite the earnings beat and guidance update. This neutral rating may be contributing to muted investor reaction. NNN REIT Receives Consensus Hold Recommendation

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in shares of NNN REIT by 3.5% in the second quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock worth $4,977,000 after buying an additional 3,897 shares in the last quarter. Parallel Advisors LLC increased its holdings 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 worth $243,000 after purchasing an additional 567 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of 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 worth $3,230,000 after purchasing an additional 30,333 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NNN REIT in the fourth quarter worth about $1,300,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NNN. Wells Fargo & Company boosted their price target on NNN REIT from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Morgan Stanley lowered shares of NNN REIT from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Monday, July 20th. National Bank Financial set a $50.00 target price on shares of NNN REIT in a report on Monday, July 20th. Royal Bank Of Canada increased their price target on shares of NNN REIT from $44.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Barclays boosted their price objective on shares of NNN REIT from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.30.

NNN REIT Company Profile

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.