NNN REIT, Inc. Overview
Pro stress-test →NNN REIT is a fully integrated REIT formed in 1984 that focuses on acquiring, owning, and investing in high-quality properties leased under long-term net leases, with a portfolio of 3,692 properties across all 50 states and approximately 39.6 million square feet as of December 31, 2025. The company has increased its annual dividend for 36 consecutive years, with shareholders enjoying a 30-year average annual total return of 10.9%.
Strategic Profile
Pro stress-test →NNN's properties are predominantly leased under triple-net leases where tenants bear operating expenses, reducing the company's exposure to cost inflation while generating stable cash flow. With an occupancy rate of 98.3% as of December 31, 2025, the company maintains strong tenant retention and predictable rental income. The diversified portfolio spans restaurants, automotive services, convenience stores, health and fitness, theaters, and banks.
Competitive Landscape
Pro stress-test →NNN competes with other retail REITs including Realty Income Corporation and Kimco Realty Corporation, which also focus on retail properties and net-lease formats. NNN's competitive advantage lies in its diversified tenant base, long weighted-average lease terms exceeding 10 years, and track record of consistent dividend growth.
Industry Context
NNN REIT, Inc. operates in Real Estate Investment Trusts (REITs) - Net-Lease Retail Properties.
Key facts
Founded: 1984 · Headquarters: Orlando, Florida, US · Employees: 259 · Revenue: $926.2B