NNN NNN REIT (NNN) Q2 FY26 earnings call
NNN REIT delivered a strong second quarter, marked by robust acquisition activity and a second upward revision to its full-year AFFO per share guidance. The company's disciplined capital allocation and focus on relationship-driven sale-leaseback transactions continue to drive portfolio performance, with high occupancy and strong rent collections. Management remains confident in its self-funded growth strategy and conservative balance sheet to support sustainable earnings growth.
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NNN operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Properties | ~3,700Our portfolio of approximately 3,700 freestanding single-tenant properties across all 50 states continues to perform well.Source: earnings call transcript | 3,774As far as the portfolio performance, the 3,774 freestanding single-tenant properties continue to perform exceedingly well during the second quarter.Source: earnings call transcript | — |
| Occupancy rate | 98.6%Occupancy increased sequentially by 30 basis points to 98.6%, now above our long-term average.Source: earnings call transcript | 99.1%Occupancy is up 50 basis points from the first quarter to 99.1%, which is an increase of 110 basis points from last year.Source: earnings call transcript | +0.5 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.