NNN REIT Reports Third-Quarter 2026 Results as Portfolio Occupancy Reaches 99.2%

NNN REIT reported net earnings of $109.9 million for the third quarter of 2026.In the previous year, the amount was recorded at $96.8 million. The revenue also increased to $249.7 million this year compared to $230.2 million in the same quarter of 2025.

Also, there was an increase in the earnings per diluted share to $0.57 compared to $0.51 last year. Core FFO also improved, reaching $0.90 per share. That was a 5.9% year-on-year increase. AFFO stood at $0.91 per share, up 5.8%.

The company's property portfolio had 3,817 properties as of September 30. It covered approximately 40.8 million square feet. Occupancy reached 99.2%, compared with 97.5% a year earlier. The average remaining lease term was 10.1 years.

Acquisitions and Property Sales

NNN REIT spent $221.7 million on acquisitions during the quarter. The amount covered 76 properties with a combined area of around 572,000 square feet. These properties had an initial weighted average cash cap rate of 7.3%. Their average lease term was 19.6 years.

The acquisition activity was not limited to the third quarter. Across the first nine months of 2026, the company invested $658.1 million in 206 properties.

NNN REIT also sold 32 properties during the quarter. The total sale value was approximately $50.7 million. Of these, 21 were income-producing properties, bringing in $37.3 million in net proceeds. The weighted average cap rate for these sales was 7.8%.

Financial Position and Outlook

The group's liquidity position was strong at the end of September with $5.1 billion in gross debt and $1.4 billion of liquidity available, while weighted average debt maturity was 9.8 years and weighted average interest rate 4.2%.

NNN REIT is maintaining its profit forecast for 2026 and expects Core FFO of $3.50 to $3.54 and AFFO of $3.55 to $3.59 per diluted share.

However, the company expects property sales to range between $160 million and $180 million in 2026, up from $120 million to $160 million.

NNN REIT has also announced a dividend of $0.62 per share to be paid to shareholders on record date of October 30. This will be paid on November 13, 2026.