NNN REIT, INC.

Listed Company

NNNCIK 0000751364NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$926.21M

Net Income

$389.78M

Total Assets

$9.38B

Equity

$4.41B

Shares Out

190.25M

Op. Cash Flow

$667.13M

NNN$49.58+15.98% · past yearDBEQ Basic

Daily closing prices

Business

NNN REIT, Inc. is a fully integrated real estate investment trust that acquires, owns and develops single-tenant, freestanding commercial properties leased to tenants under long-term net leases. The company's portfolio consists of 3,692 properties across all 50 states, the District of Columbia and Puerto Rico, primarily in retail sectors. NNN generates income through triple-net lease arrangements where tenants bear responsibility for operating expenses, maintenance and capital expenditures. The company holds properties for long-term investment and has increased its annual dividend per share for 36 consecutive years.

Summary from 10-K filed 2026-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental income	924	867	826	772	724
Interest and other income from real estate transactions	2	2	2	1	3
Total revenues	926	869	828	773	726
General and administrative	47	44	44	42	45
Real estate	37	32	28	26	28
Depreciation and amortization	268	250	239	224	205
Leasing transaction costs	486,000	99,000	299,000	320,000	203,000
Impairment losses - real estate, net of recoveries	29	7	6	8	22
Retirement And Severance Costs	3	668,000	3	—	—
Total operating expenses	385	334	320	308	300
Gain on disposition of real estate	48	42	47	17	23
Earnings from operations	589	578	555	483	449
Interest and other income	−4	−3	−1	−149,000	−216,000
Interest expense	204	184	164	148	138
Total other expenses (revenues)	200	181	163	148	159
Net earnings	390	397	392	335	290
Basic (in dollars per share)	2.07	2.16	2.16	1.89	1.51
Diluted (in dollars per share)	2.07	2.15	2.16	1.89	1.51
Basic (in shares)	188	184	181	176	175
Diluted (in shares)	188	184	182	177	175
Net earnings	390	397	392	335	290
Amortization of interest rate hedges	2	2	2	2	3
Fair value of forward starting swaps	−52,000	0	0	—	—
Total comprehensive income	391	399	395	337	292

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real estate portfolio, net of accumulated depreciation and amortization	9,240	8,746	8,536	8,021	7,450
Cash and cash equivalents	5	9	1	3	171
Restricted cash and cash held in escrow	776,000	331,000	4	4	0
Receivables, net of allowance of $609 and $617, respectively	3	3	4	4	3
Accrued rental income, net of allowance of $3,393 and $4,156, respectively	35	34	35	28	32
Debt costs, net of accumulated amortization of $29,930 and $27,002, respectively	9	9	—	—	7
Other assets	87	72	79	82	87
Total assets	9,379	8,873	8,662	8,146	7,751
Line of credit payable	348	0	132	166	0
Notes payable, net of unamortized discount and unamortized debt costs	4,472	4,374	4,229	3,740	3,736
Accrued interest payable	41	30	34	24	24
Other liabilities	110	107	110	83	79
Total liabilities	4,971	4,510	4,505	4,023	3,849
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, $0.01 par value. Authorized 375,000,000 shares; 189,937,404 and 187,540,929 shares issued and outstanding, respectively	2	2	2	2	2
Capital in excess of par value	5,295	5,198	4,972	4,928	4,663
Accumulated deficit	−883	−829	−806	−794	−748
Accumulated other comprehensive income (loss)	−6	−8	−10	−13	−15
Total equity	4,408	4,362	4,157	4,124	3,902
Total liabilities and equity	9,379	8,873	8,662	8,146	7,751

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	268	250	239	224	205
Impairment losses real estate, net of recoveries	29	7	6	8	22
Amortization of notes payable discount	4	3	2	2	2
Amortization of debt costs	6	6	5	5	5
Amortization of mortgages payable premium	0	0	−21,000	−87,000	−85,000
Amortization of interest rate hedges	2	2	2	2	3
Settlement of forward starting swaps	−409,000	0	0	0	−2
Gain on disposition of real estate	−48	−42	−47	−17	−23
Performance incentive plan expense	15	13	13	17	14
Performance incentive plan payment	−2	−1	−916,000	−103,000	−721,000
Decrease (increase) in receivables	−495,000	674,000	−853,000	358,000	1
Increase in accrued rental income	−2	−294,000	−7	4	21
Decrease (increase) in other assets	−8	−190,000	243,000	424,000	2
Increase (decrease) in accrued interest payable	11	−5	11	−97,000	5
Increase (decrease) in other liabilities	3	7	−2	−1	2
Other	−147,000	−82,000	79,000	68,000	−297,000
Net cash provided by operating activities	667	636	612	578	568
Proceeds from the disposition of real estate	191	150	116	67	123
Additions to real estate	−937	−573	−796	−843	−553
Principal payments received on mortgages and notes receivable	460,000	599,000	559,000	521,000	486,000
Other	−3	−2	−2	−2	−2
Net cash used in investing activities	−748	−424	−681	−778	−432
Proceeds from line of credit payable	1,093	546	873	688	0
Repayment of line of credit payable	−745	−678	−907	−522	0
Repayment of mortgages payable	0	0	−10	−664,000	−630,000
Proceeds from notes payable	496	494	488	0	881
Repayment of notes payable	−400	−350	0	0	−350
Payment of debt issuance costs	−7	−13	−5	−199,000	−18
Proceeds from issuance of common stock	85	218	32	254	4
Stock issuance costs	−2	−3	−966,000	−4	−325,000
Payment of common stock dividends	−443	−420	−404	−381	−367
Net cash provided by (used in) financing activities	78	−207	67	35	−232
Net increase (decrease) in cash, cash equivalents and restricted cash	−3	4	−2	−165	−96
Interest paid, net of amount capitalized	184	183	148	140	123
Change in other comprehensive income	2	2	2	2	1
Right-of-use assets recorded in connection with lease liabilities	3	0	6	0	0
Change in work in progress accrual	−6	−7	23	4	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is NNN REIT, INC.'s CIK number?

NNN REIT, INC.'s SEC CIK number is 0000751364 (751364). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find NNN REIT, INC.'s SEC filings?

All of NNN REIT, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did NNN REIT, INC. last report earnings?

NNN REIT, INC. (NNN) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-194205). This is NNN REIT, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is NNN REIT, INC.'s most recent earnings 8-K?

NNN REIT, INC.'s latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0001193125-26-194205. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View NNN REIT, INC.'s latest earnings 8-K →
Look up any company's CIK number →