NNN REIT, Inc. (NNN) is a publicly traded company in the Real Estate — REIT - Retail industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
NNN REIT, Inc. is a REIT that invests in high-quality properties subjected generally to long-term, net leases with minimal ongoing capital expenditures. As of June 30, 2026, the Company owned 3,774 properties across 50 states, the District of Columbia and Puerto Rico, encompassing approximately 40.4 million square feet of gross leasable area, with a weighted average remaining lease term of 10.1 years. NNN REIT, Inc.
Is NNN REIT, Inc. stock overvalued or undervalued in 2026?
NNN REIT, Inc. (NNN) trades at 20.0× earnings (P/E). At its 10-year average P/FFO (14.4×) $51 (+25 %).
Kaplio overview: NNN REIT, Inc.
Market cap $8B · 52 weeks $39 – $50 (16 % below the high) · P/E 20.0× · 2027 expected P/E 19.4× · Dividend 5.9 % · 3 years rising · Next earnings November 4, 2026 · expected EPS $0.52 · Closing price, Oct 28 · accounts published Aug 5.
- Valuation: P/FFO 11.5× (expensive).
- Business: FFO/dividend 1.5× (solid).
- Balance sheet: Net debt/EBITDA 5.6× (passes, near the threshold).
- Earnings: 7 of 8 (no verdict).
What would it be worth at its usual multiples?
At its 10-year average P/FFO (14.4×) $51 (+25 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in REITs: 3 of 4 pass
- P/FFO 11.5×, fails.
- Dividend coverage (FFO/div) 1.5×, passes.
- Debt / Assets 51.4 %, passes.
- Net debt / EBITDA 5.6×, passes, near the threshold.
- FFO / Share $3.56, info.
Against its peers (reference peers) — NNN REIT, Inc.: P/B 1.7×; Div. yield 5.9 %; EV/EBITDA 14.8×; $7.8B. Agree Realty Corporation (P/B 1.2×; Div. yield 4.6 %; EV/EBITDA 18.5×; $8.2B), Regency Centers Corporation (P/B 1.9×; Div. yield 4.1 %; EV/EBITDA 16.0×; $13.4B), Tanger Inc. (P/B 6.1×; Div. yield 3.4 %; EV/EBITDA 16.4×; $4.2B).
Expensive or cheap against its last ten fiscal years?
Precio / FFO (aprox.) at each close: today 11.5× · median 15.0× · minimum 11.1× · maximum 17.6× · cheap below 13.5× · expensive above 15.7×. It has been cheaper than today only 10% of the time over its last ten fiscal years.
Dividend
solid · Yield 5.9 % ($2.36 per share in 2025) · Years raising it 3 · 5-year growth +2 % a year · Free cash flow coverage FFO payout 66 % · With $1,000 invested today you'd collect $59.10 a year ($4.92 a month).
Profitability
| Return on Equity | 8.70% |
| Return on Invested Capital | 6.18% |
| Return on Assets | 4.00% |
| Gross Margin | 81.78% |
| Operating Margin | 62.03% |
| Net Margin | 40.35% |
Financial Health
| Debt / Equity | 1.12 |
| Current Ratio | 0.66 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.02 |
Price Performance
| 1 month | -1.06% |
| 3 months | -13.93% |
| Year-to-date | +3.20% |
| 1 year | -0.51% |
| 3 years | +15.54% |
| 5 years | -9.83% |
| 10 years | -10.35% |
Dividend History
Paid in the last 12 months: $2.4200 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-10-30 | $0.6200 |
| 2026-07-31 | $0.6200 |
| 2026-04-30 | $0.6000 |
| 2026-01-30 | $0.6000 |
| 2025-10-31 | $0.6000 |
| 2025-07-31 | $0.6000 |
| 2025-04-30 | $0.5800 |
| 2025-01-31 | $0.5800 |
| 2024-10-31 | $0.5800 |
| 2024-07-31 | $0.5800 |
Amounts adjusted for stock splits.
Related companies: IVT · REG · O · WPC · KIM · ADC · SKT · UE
Explore sector: Real Estate · REIT - Retail
More sections of NNN: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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