NNN REIT Raises 2026 Profit Outlook After Robust Second Quarter

The company achieved core funds from operations (FFO) of $0.89 per diluted share, a 6% increase compared to the same period last year. Portfolio occupancy reached 99.1%, reflecting a 110 basis point improvement over the prior-year level. This stability, coupled with a weighted average remaining lease term of 10.1 years, provided a foundation for the firm to increase its full-year 2026 core FFO guidance to a range of $3.50 to $3.54 per share.

During the quarter, NNN invested $291 million into new properties at a 7.3% initial cash cap rate. To support this growth, the company utilized its at-the-market equity program to raise $74 million and exercised a $200 million incremental term loan option, bringing its total facility to $500 million. Chief Executive Officer Steve Horn credited the results to disciplined execution and resilient performance across the firm's 3,774-property portfolio. Reflecting this momentum, the board declared a quarterly dividend of $0.62 per share, marking the company’s 37th consecutive year of dividend increases.