NNN Reit (NNN)

What NNN Reit does

NNN REIT is a fully integrated real estate investment trust that acquires, owns, and develops high-quality properties leased primarily under long-term, triple-net leases to creditworthy tenants. As of December 31, 2025, NNN owned 3,692 properties in all 50 states, the District of Columbia, and Puerto Rico with approximately 39.6 million square feet of gross leasable area and a weighted average remaining lease term of 10.2 years. The company generates stable rental income with minimal ongoing capital expenditures and 98.3% occupancy, while maintaining a 36-year consecutive dividend increase streak.

Fundamentals

• Price$46.51 as of 2026-07-09 close
• Market cap$8.9B as of 2026-07-10
• 1-year return+8.5% as of 2026-07-09 close
• P/E22.93 as of 2026-07-10
• Net margin+41.4% as of 2026-07-10
• Gross margin+96.0% as of 2026-07-10
• ROE+8.8% as of 2026-07-10
• Debt / equity1.10 as of 2026-07-10
• Revenue growth (YoY)+5.8% as of 2026-07-10
• Revenue CAGR (3y)+6.2% SEC XBRL
• Beta0.79 as of 2026-07-10

Dividend: yield +5.2%; 5-year non-decreasing per-share dividend streak (SEC XBRL).

Ask why NNN looks like this →

Key risks (from latest filing)

["REIT qualification loss would subject the company to federal income tax at regular corporate rates and disallow REIT treatment for four subsequent years, materially adversely affecting income and dividend paying capacity","Intense competition from other domestic and international real estate investors willing to accept lower returns, unfavorable lease terms, or higher risk levels","Tenant credit quality deterioration and lease non-renewal risk affecting occupancy rates and rental income stability"]

See NNN's biggest risks from its latest 10-Q →

Competitors & peers

• Realty Income Corporation (O)
• STORE Capital (STOR)
• Spirit Realty Capital (SRC)
• National Retail Properties (NRT)
• Four Corners Property Trust (FCPT)

Not quite? Describe exactly what you want →