NNN REIT, Inc. Announces 2025 Annual Results and Initial 2026 Guidance

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NNN REIT, Inc. (NYSE: NNN) announced 4Q and YE 2025 results and initial 2026 guidance. Fourth quarter FFO, Core FFO and AFFO were each $0.87 per share. In 2025, NNN closed on $931.0 million of investments at an initial cash cap rate of 7.4% with a weighted average lease term of 17.6 years. NNN sold 116 properties in 2025 for $190.5 million at a weighted average cap rate of 6.4%. 2026 AFFO guidance was introduced at a range of $3.52-$3.58 per share.

Dividend Yield

5.2%

Total Shareholder Return Comparison

	5 Years	10 Years	15 Years	20 Years	25 Years	30 Years
NNN REIT	4.7%	4.8%	7.8%	9.1%	12.0%	10.7%
Indices
* NAREIT Equity REIT Index (FNERTR)	4.9%	5.8%	7.8%	6.6%	9.0%	9.1%
* Morgan Stanley REIT Index (RMS G)	6.6%	5.7%	7.7%	6.5%	8.6%	9.1%
S&P 500 Index (SPX)	14.4%	14.8%	14.0%	11.0%	8.8%	10.3%
* S&P 400 Index (MID)	9.1%	10.7%	10.7%	9.4%	9.3%	11.0%

For Periods Ending December 31, 2025. Total Return comprised of stock price appreciation plus dividends paid.

* NNN is a member of this index. Source: Bloomberg