NNN REIT beats Q2 revenue estimates, raises 2026 guidance

NNN REIT

05/08/2026 13:41

Overview
U.S. net lease property REIT's Q2 revenue grew yr/yr, beating analyst expectations
Adjusted FFO per share for Q2 rose 5.9% yr/yr
Company raised 2026 Core FFO, AFFO, and acquisition volume guidance

Outlook
NNN REIT raises 2026 Core FFO per share guidance to $3.50-$3.54
Company lifts 2026 AFFO per share guidance to $3.55-$3.59
NNN REIT raises 2026 acquisition volume guidance to $700-$800 mln

Result Drivers
PORTFOLIO EXPANSION - Revenue growth driven by new property acquisitions and higher annualized base rent
OCCUPANCY GAINS - Portfolio occupancy rose to 99.1%, up from 98.0% a year ago, supporting higher rental income
DISCIPLINED EXECUTION - CEO attributed strong results to resilient portfolio performance and a robust investment pipeline

Company press release: ID:nPn8YChy2a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$244.27 mln
$240.60 mln (11 Analysts)
Q2 EPS
 
$0.52
 
Q2 Net Income
 
$97.92 mln
 
Q2 Income From Operations
 
$151.38 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 13 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for NNN REIT, Inc. is $46.00, about 2.5% below its August 4 closing price of $47.17
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
Aug 3 - Armada Hoffler Q2 revenue up on portfolio NOI growth; raises 2026 FFO outlook
Aug 4 - Kimco Realty lifts annual profit forecast, beats quarterly revenue estimates on strong leasing demand
Aug 4 - Canada's RioCan REIT Q2 core FFO per unit rises on NOI increase

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)