Overview

• Real estate investment trust's Q4 revenue beat analyst expectations

• AFFO per share grew 2.7% yr/yr to $3.44

• Introduced 2026 AFFO guidance with a 3.2% increase at midpoint

Outlook

• NNN REIT expects 2026 AFFO per share between $3.52 and $3.58

• Company forecasts 2026 net earnings per share of $2.02 to $2.08

• NNN REIT plans 2026 acquisition volume of $550 mln to $650 mln

Result Drivers

• INVESTMENT ACTIVITY - NNN closed on $931 million of investments at a 7.4% cap rate, enhancing portfolio value

• PORTFOLIO MANAGEMENT - Increased occupancy by 80 basis points to 98.3%, reflecting effective management

• CAPITAL RAISE - Raised $85.4 million through share issuance and issued $500 million in senior notes

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 11 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for NNN REIT Inc is $44.00, about 1.6% above its February 10 closing price of $43.31

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release: ID:nPnc9ycT8a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)