---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-045612"
form_type: "8-K"
ticker: "NNN"
cik: "0000751364"
company_name: "NNN REIT, INC."
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:27:11.403029+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NNN REIT 2025 AFFO $3.44 (+2.7% YoY); guides 2026 AFFO $3.52-$3.58

## Summary
- Net earnings $2.07/diluted share vs $2.15 in 2024; Core FFO $3.41, AFFO $3.44 per share.
- Revenue $926.2M, up 6.6% YoY; portfolio occupancy 98.3% (+80bps vs Q3 2025).
- 2025 acquisitions $931M at 7.4% cap rate; 2026 guidance for $550-$650M in acquisitions.
- Quarterly dividend raised to $0.60 ($2.40 annual), marking 36th consecutive annual increase.
- 2026 AFFO guidance $3.52-$3.58 per share; net debt/EBITDAre 5.6x, fixed charge 4.1x.

## SEC filing metadata
- accession: 0001193125-26-045612
- form_type: 8-K
- ticker: NNN
- cik: 0000751364
- company_name: NNN REIT, INC.
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/751364/000119312526045612/0001193125-26-045612-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751364/000119312526045612/nnn-20260211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-045612
- JSON: https://secwatch.observer/filing/0001193125-26-045612.json
- Plain text: https://secwatch.observer/filing/0001193125-26-045612.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.