NNN Reit (NNN)
NYSEReal EstateReit - RetailSnapshot 2026-09-04
$44.63-1.22%
Close 2026-09-04 · 1-day change
NYSEReal EstateReit - RetailSnapshot 2026-09-04
QuarterlyIQ Insights · NNN
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within real estate on a research-validated quality screen. As of 2026-09-04.
The screen ranks NNN against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated neutral grew net income 51% of the time over the next year (vs 56% for the rest of the cohort, n=3706).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue to grow Core FFO and AFFO per share with raised guidance for 2026 reflecting solid portfolio and operational performance.
Stated as a priority in 3 of last 3 quarters. Core FFO per share grew from $0.86 in 2026-Q1 to $0.89 in 2026-Q2, and AFFO per share grew from $0.87 to $0.90 in the same period. Management raised 2026 Core FFO guidance from $3.48-$3.54 to $3.50-$3.54 and AFFO guidance from $3.53-$3.59 to $3.55-$3.59. The trajectory is delivering consistent per-share growth aligned with guidance increases.
“Increased 2026 Core FFO and AFFO per share guidance to new ranges.”
“Increased AFFO per share guidance to a new range of $3.53 to $3.59.”
“Introduced 2026 AFFO guidance of $3.52 to $3.58 per share.”
Raise acquisition volume guidance to reflect a robust real estate investment pipeline and disciplined capital deployment.
Stated as a priority in 3 of last 3 quarters. Acquisition volume guidance was raised from $550-$650 million to $700-$800 million in 2026-Q2. Actual investments closed increased to $291.0 million in 2026-Q2 from $145.4 million in 2026-Q1, showing disciplined capital deployment. The trajectory matches management's stated growth focus.
Sustain high portfolio occupancy rates and long weighted average lease terms to support stable rental income.
Stated as a priority in 3 of last 3 quarters. Portfolio occupancy increased from 98.3% in 2025-Q4 to 99.1% in 2026-Q2, while weighted average lease term remained stable around 10.1 years. Management has consistently emphasized maintaining strong occupancy and lease terms, and the data shows delivering on this priority.
Preserve balance sheet flexibility with long debt maturities, low floating rate exposure, and ample liquidity.
Stated as a priority in 3 of last 3 quarters. Weighted average debt maturity declined slightly from 10.8 years in 2025-Q4 to 10.1 years in 2026-Q2, while total available liquidity increased from $1.2 billion to $1.4 billion. Management has maintained disciplined capital structure and liquidity, delivering balance sheet flexibility consistent with stated goals.
Continue to increase quarterly dividends annually, maintaining a strong payout ratio and yield.
Stated as a priority in 3 of last 3 quarters. The quarterly dividend increased from $0.60 in 2025-Q4 and 2026-Q1 to $0.62 in 2026-Q2, marking the 37th consecutive annual increase. The AFFO payout ratio remained stable around 67-69%. Management is delivering consistent dividend growth aligned with stated commitment.
Over the trailing year it converted 1.84x of net income into operating cash flow. Historically, Real Estate names rated neutral grew net income 57% of the time over the next year (vs 46% for the rest of the cohort, n=2946).
Most sensitive to real (inflation-adjusted) rates and long-term interest rates.
Not enough signal to read sensitivity to the US dollar, the broad stock market, Fed net liquidity (low R² over the window).
10 material management or governance events in the past 24 months, led by executive changes. Historically, Real Estate names rated neutral grew net income 56% of the time over the next year (vs 48% for the rest of the cohort, n=877).
Not investment advice. As of 2026-09-04.
“Raised 2026 acquisition volume guidance to a new range of $700 - $800 million.”
“Closed on $145.4 million of investments in 2026-Q1.”
“Closed on $183.1 million of investments in 2025-Q4.”
“Increased portfolio occupancy to 99.1% with a weighted average lease term of 10.1 years.”
“Portfolio occupancy climbed to 98.6% with a weighted average lease term of 10.1 years.”
“Increased portfolio occupancy by 80 basis points to 98.3% with a weighted average lease term of 10.2 years.”
“Maintained balance sheet flexibility with weighted average debt maturity of 10.1 years and $1.4 billion liquidity.”
“Maintained balance sheet flexibility with weighted average debt maturity of 10.5 years and $1.2 billion liquidity.”
“Maintained balance sheet flexibility with weighted average debt maturity of 10.8 years and $1.2 billion liquidity.”
“Announced a 3.3% increase in the quarterly dividend to $0.62 per share.”
“Paid a $0.60 quarterly dividend, representing a 5.7% annualized dividend yield.”
“Paid a $0.60 quarterly dividend, representing a 6.1% annualized dividend yield.”