NNN REIT(NYSE) NNN

NNN REIT, Inc. buys buildings and leases them to retail businesses. These long-term agreements help stores stay in their local communities. The company collects steady rent from thousands of these retail locations.

Where the Rent Comes From

• Automotive Service: Properties used for car repairs and maintenance; represents 18.6% of annualized base rent as of June 30, 2026.
• Convenience Stores: Locations that sell fuel and daily essential goods; accounts for 15.9% of annualized base rent as of June 30, 2026.
• Restaurants: Buildings for limited-service and full-service dining brands; makes up 14.0% of annualized base rent as of June 30, 2026.
• Entertainment and Dealerships: Facilities for movie theaters, health clubs, and vehicle sales; provides diverse rental income from nationwide retail tenants.

Growing the Property Portfolio

• Acquired 79 properties for $436.4 million during the six months ended June 30, 2026.
• Sold 51 properties, including 35 vacant units, for $72.6 million in net proceeds during the first half of 2026.
• Completed a $500 million draw on a senior unsecured term loan to fund operational needs in 2026.
• Issued $500 million in 4.600% notes due in February 2031 to manage long-term debt obligations in July 2025.

What Makes NNN Different

The company uses triple-net leases where tenants bear the costs for property taxes, insurance, and maintenance. This strategy creates a stable income stream from a portfolio of 3,774 properties while limiting the landlord's exposure to rising operational expenses.

A Look at the Numbers

• Total revenues reached $484.7 million for the six-month period ended June 30, 2026.
• The property occupancy rate stood at 99.1% across the entire portfolio as of June 30, 2026.
• Total debt outstanding was $5.0 billion with a weighted average interest rate of 4.44% on the credit facility in 2026.
• Common stock dividends reached $1.20 per share for the six months ended June 30, 2026.

The Bottom Line

NNN REIT has evolved from a 1984 start into a nationwide owner of thousands of retail properties. Its focus on long-term net leases across diverse industries supports steady occupancy and consistent rental income.