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

NNN REIT (NYSE:NNN) announced its earnings results on Wednesday. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05, FiscalAI reports. The firm had revenue of $249.68 million during the quarter, compared to analyst estimates of $245.37 million. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.

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 REIT stock traded down $0.01 during trading hours on Wednesday, hitting $41.68. The stock had a trading volume of 4,775,472 shares, compared to its average volume of 2,751,221. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $8.00 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. NNN REIT has a 12-month low of $38.90 and a 12-month high of $50.00. The stock’s 50-day moving average price is $42.13 and its 200-day moving average price is $44.26.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Friday, October 30th. NNN REIT’s dividend payout ratio (DPR) is currently 121.57%.

Analyst Ratings Changes

A number of brokerages have recently commented on NNN. Evercore set a $47.00 target price on shares of NNN REIT in a report on Monday, September 21st. Weiss Ratings lowered shares of NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Truist Financial assumed coverage on shares of NNN REIT in a research note on Thursday, October 1st. They set a “hold” rating and a $45.00 target price for the company. Huntington assumed coverage on NNN REIT in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, Barclays reduced 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. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.