REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
NNN REIT grew total revenue 7.7% YoY to $244.3M on portfolio expansion, but net earnings fell 2.6% to $97.9M as interest expense and real estate impairments outpaced revenue growth.
Biggest Revenue Drivers
Rental income$242.7M+7.1% YoY
Increase primarily due to rental revenues from recent Property acquisitions
Biggest Revenue Drivers
Total revenue: $244.3M+7.7% YoY
Rental income$242.7M+7.1% YoY
Increase primarily due to rental revenues from recent Property acquisitions
Within Rental income
Rental Revenues$237.8M+7.1% YoY
Real estate expense reimbursement from tenants$4.9M+10.6% YoY
Largest Expense Items
Depreciation and amortization$71.0M+3.9% YoY
Increase attributable to growth in Property Portfolio from recent acquisitions, partially offset by dispositions
Interest expense$53.5M+8.5% YoY
Driven by July 2025 note issuance and Term Loan draws during the period
Margins: Total operating expenses rose 8.8% YoY, outpacing revenue growth, as G&A climbed to 5.8% of revenue (from 4.9%) and impairments nearly doubled; non-reimbursed real estate expense fell on fewer vacant properties.
Watch Items from the Filing
Real estate impairment losses, net of recoveries, rose to $8.1M in Q2 2026 from $4.5M in Q2 2025, driven by 10 vacant properties versus 6 a year earlier.
Net earnings fell to $97.9M from $100.5M as interest expense (+8.5% YoY to $53.5M) and impairments outpaced revenue growth.
Top line-of-trade concentrations are automotive service (18.6%), convenience stores (15.9%) and restaurants (14.0%) of ABR; portfolio is geographically concentrated in the southeastern (25.4%) and southern (24.2%) U.S.
Occupancy improved to 99.1% leased (from 98.3% at year-end 2025) with a 10.1-year weighted average remaining lease term.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Chao Vincent H.EVP, Chief Financial OfficerGrant or award · Feb 17, 2026
Congress trading in NNN
2 transactions in NNN reported by 2 members of Congress under the STOCK Act, most recent trade Jun 17, 2025. Reported transactions, not recommendations.
About NNN REIT, INC. (NNN): stock profile, AI score and financials
NNN REIT, INC. (NNN) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores NNN at 64.6/100 on a composite quality score built from its SEC filings, placing it at rank #38 of 148 stocks — the top half of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), NNN REIT, INC. reports quarterly revenue of $244.3M, net income of $97.9M, an operating margin of 62.0%. Top institutional holders of NNN by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, FMR, based on the most recent SEC filings. NNN trades on the NYSE exchange and files with the SEC under CIK 751364. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NNN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NNN REIT, INC. directly from SEC EDGAR.