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    Dividend Growth And 2026 Guidance Might Change The Case For Investing In NNN REIT (NNN)

    Simply Wall St·02/16/2026 23:22:20
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    • NNN REIT, Inc. recently reported its fourth-quarter and full-year 2025 results, showing higher revenue of US$238.40 million for the quarter and US$926.21 million for the year, alongside slightly lower net income and earnings per share versus 2024.
    • The company also highlighted its 36th consecutive year of dividend growth, ongoing portfolio recycling with over US$900 million of acquisitions and US$190.50 million of property sales, and issued 2026 guidance for both net earnings per share and AFFO.
    • With these results in hand, we’ll now examine how NNN REIT’s continued dividend growth and updated 2026 earnings guidance shape its investment narrative.

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    NNN REIT Investment Narrative Recap

    To own NNN REIT, you need to believe in its focus on long, triple net leases with tenants less exposed to e‑commerce, and its ability to keep properties occupied while steadily growing cash flows. The latest results show higher revenue but slightly lower net income and earnings per share, and the 2026 earnings guidance suggests the near term is more about incremental progress than a major catalyst shift, with tenant quality and retail bankruptcies remaining a key risk.

    The most relevant update for that story is NNN REIT’s 2026 guidance for net earnings per share of US$2.02 to US$2.08 and AFFO of US$3.52 to US$3.58 per share. This guidance sits alongside a 36 year dividend growth streak and a 98.3% occupied, highly diversified portfolio, which together frame how much earnings headroom there may be if tenant issues or higher bad debt expenses start to bite.

    Yet behind the long dividend record, investors should still be aware of...

    Read the full narrative on NNN REIT (it's free!)

    NNN REIT's narrative projects $1.0 billion revenue and $425.2 million earnings by 2028.

    Uncover how NNN REIT's forecasts yield a $44.54 fair value, in line with its current price.

    Exploring Other Perspectives

    NNN 1-Year Stock Price Chart
    NNN 1-Year Stock Price Chart

    Three fair value estimates from the Simply Wall St Community range from about US$44.54 to US$80.27 per share, showing very different expectations. Against that spread, the focus on e‑commerce resistant tenants and long leases is central to how you think about NNN REIT’s ability to support its earnings and dividend profile over time, so it is worth weighing several of these viewpoints before deciding where you stand.

    Explore 3 other fair value estimates on NNN REIT - why the stock might be worth as much as 81% more than the current price!

    Build Your Own NNN REIT Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.