NNN REIT Inc. Common Stock (NNN)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at NNN as a steady net-lease landlord, not a fast grower. It owns 3,774 retail properties across 50 states, D.C., and Puerto Rico, with a 10.1-year weighted average remaining lease term; tenants generally handle property costs, and only 85 employees run the enterprise. That structure can be a modest moat: long leases and diversified locations make cash flows predictable. The filed numbers show steady revenue but softer profit. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $244.3 million and net income $97.9 million. A year earlier, in fiscal Q2 2025, the quarter ended 2025-06-30, revenue was $226.8 million and net income $100.5 million. For FY2025, the year ended 2025-12-31, revenue was $926.2 million versus $869.3 million in FY2024, but net income slipped to $389.8 million from $396.8 million. FairStock's numbers show a 5.97% dividend yield at the 2026-10-13 close, P/B of 1.74, D/E of 1.12, ROE of 8.72%, ROCE of 3.91%, and a TTM FCF yield of 8.7%. FairStock's P/E of 19.95 and its $2.03 EPS figure are less meaningful for a REIT because depreciation distorts them; FFO/AFFO, the right measures, are not in the data. The Altman Z-Score of 0.85 and ROCE of 3.91% remind me leverage matters. At $40.50, the price looks fair, not obviously cheap. I would want FFO/AFFO coverage before calling it a bargain, but the dividend, lease term, and revenue trend are respectable.

In plain English: NNN REIT owns retail buildings and leases them to tenants under long-term contracts, with tenants generally paying many property costs. The business looks steady: revenue has been growing, the dividend is high, and leases are long, but recent profit has slipped and debt is meaningful. At the recent price, the shares look reasonably priced rather than clearly cheap or expensive.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer