Jun 2026 (Q2 FY26) — Aug 5, 2026
NNN REIT Q2 FY26 — Strong Acquisition Volume and Raised Guidance
Read the full callNNN REIT (NNN) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
NNN REIT earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 244 | +7.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 62.0 | −4.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 97.9 | −2.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$40.86 −1.64% · −$0.68
Performance −4.4% 1Y
1Y: $42.76 on 17 Oct 2025 → $40.86. High $49.59 (17 Jul 2026), low $39.05 (23 Dec 2025).
- Previous close
- $41.54
- 52-week range
- $39.05 – $49.59
- One year
- −4.33%
Overview
- Symbol
- NNN
- Sector
- Real Estate
- Exchange
- US
- Currency
- USD
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
NNN REIT Q1 FY26 — Strong Acquisition Activity and Raised AFFO Guidance
Read the full callEvery analysed call
NNN REIT earnings calls (NNN)
Financials
What the filings say
Net profit, year on year: −3% (quarter to jun 2026 against jun 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 217 | 219 | 218 | 231 | 227 | 230 | 238 | 244 |
| Operating profit | 152 | 144 | 144 | 144 | 150 | 147 | 149 | 151 |
| Operating margin | 70.2% | 65.7% | 65.8% | 62.3% | 66.0% | 64.0% | 62.3% | 62.0% |
| Interest | 47 | 46 | 47 | 48 | 49 | 53 | 54 | 53 |
| Net profit | 107 | 98 | 98 | 96 | 101 | 97 | 96 | 98 |
| EPS ($ per share) | 0.58 | 0.53 | — | 0.52 | 0.54 | 0.51 | — | 0.52 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | -424 | -499 | -645 | -748 | -794 | -806 | -829 | -883 |
| Total liabilities | 2,949 | 3,103 | 3,319 | 3,849 | 4,023 | 4,505 | 4,510 | 4,971 |
| Total assets | 7,103 | 7,435 | 7,638 | 7,751 | 8,146 | 8,662 | 8,873 | 9,379 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 472 | 502 | 450 | 568 | 578 | 612 | 636 | 667 |
| Cash from investing | -609 | -619 | -143 | -432 | -778 | -681 | -424 | -748 |
| Cash from financing | 250 | 5 | -41 | -232 | 35 | 67 | -207 | 78 |
| Net cash flow | 113 | -113 | 266 | -96 | -165 | -2 | 4 | -3 |
NNN operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | 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.
Insider filings
43 filings between Oct 31, 2025 and Jul 31, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.94M
3 sales by 3 insiders
Compensation
not trading decisions- 38
- Award — granted as compensation
Also filed: 2 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Horn Stephen A JR | — | $1.49M | Mar 9, 2026 |
| Adamo Jonathan | — | $269.9K | Mar 6, 2026 |
| Miller Michelle Lynn | — | $176.1K | Feb 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jul 31, 2026 | Gulacsy Elizabeth Director | Award | 1,039 | $50.0K |
| Jul 31, 2026 | Beall Pamela K.M. Director | Award | 831 | $40.0K |
| Jul 31, 2026 | HOLDEN BETSY D Director | Award | 1,217 | $58.6K |
| Jul 31, 2026 | Witherspoon Kamau Omari Director | Award | 1,353 | $65.1K |
| Jul 31, 2026 | FRITSCH EDWARD J Director | Award | 1,118 | $53.8K |
| Jul 31, 2026 | FICK DAVID M Director | Award | 1,715 | $82.6K |
| Apr 30, 2026 | FRITSCH EDWARD J Director | Award | 833 | $36.3K |
| Apr 30, 2026 | Witherspoon Kamau Omari Director | Award | 1,391 | $60.5K |
| Apr 30, 2026 | Gulacsy Elizabeth Director | Award | 1,049 | $45.7K |
| Apr 30, 2026 | HOLDEN BETSY D Director | Award | 1,243 | $54.1K |
| Apr 30, 2026 | FICK DAVID M Director | Award | 1,787 | $77.8K |
| Apr 30, 2026 | Beall Pamela K.M. Director | Award | 833 | $36.3K |
| Mar 9, 2026 | Horn Stephen A JR President & CEO | Sale | 33,192 | $1.49M |
| Mar 6, 2026 | Adamo Jonathan EVP Chief Portfolio Operations | Sale | 6,000 | $269.9K |
| Feb 20, 2026 | Miller Michelle Lynn EVP,Chief Acctg & Tech Officer | Sale | 4,000 | $176.1K |
| Feb 17, 2026 | Steffens Gina M. EVP, General Counsel | Award | 5,320 | $235.9K |
| Feb 17, 2026 | Adamo Jonathan EVP Chief Portfolio Operations | Award | 6,510 | $288.7K |
| Feb 17, 2026 | Adamo Jonathan EVP Chief Portfolio Operations | Award | 30,382 | $1.35M |
| Feb 17, 2026 | Chao Vincent H. EVP, Chief Financial Officer | Award | 9,626 | $426.8K |
| Feb 17, 2026 | Chao Vincent H. EVP, Chief Financial Officer | Award | 44,920 | $1.99M |
| Feb 17, 2026 | Horn Stephen A JR President & CEO | Award | 37,803 | $1.68M |
| Feb 17, 2026 | Horn Stephen A JR President & CEO | Award | 176,413 | $7.82M |
| Feb 17, 2026 | Horn Stephen A JR President & CEO | Disposition to issuer | 70,421 | $0 |
| Feb 17, 2026 | Lewis Joshua Phillip EVP, CIO | Award | 4,648 | $206.1K |
| Feb 17, 2026 | Lewis Joshua Phillip EVP, CIO | Award | 21,692 | $961.8K |
| Feb 17, 2026 | Miller Michelle Lynn EVP,Chief Acctg & Tech Officer | Award | 4,067 | $180.3K |
| Feb 17, 2026 | Miller Michelle Lynn EVP,Chief Acctg & Tech Officer | Award | 18,981 | $841.6K |
| Feb 17, 2026 | Miller Michelle Lynn EVP,Chief Acctg & Tech Officer | Disposition to issuer | 6,981 | $0 |
| Feb 17, 2026 | Steffens Gina M. EVP, General Counsel | Award | 24,828 | $1.10M |
| Jan 30, 2026 | Beall Pamela K.M. Director | Award | 867 | $36.3K |
| Jan 30, 2026 | COSLER STEVEN D Director | Award | 1,568 | $65.6K |
| Jan 30, 2026 | FICK DAVID M Director | Award | 1,833 | $76.7K |
| Jan 30, 2026 | FRITSCH EDWARD J Director | Award | 867 | $36.3K |
| Jan 30, 2026 | Gulacsy Elizabeth Director | Award | 1,077 | $45.0K |
| Jan 30, 2026 | HOLDEN BETSY D Director | Award | 1,276 | $53.4K |
| Jan 30, 2026 | Witherspoon Kamau Omari Director | Award | 1,428 | $59.7K |
| Oct 31, 2025 | FRITSCH EDWARD J Director | Award | 888 | $36.3K |
| Oct 31, 2025 | Gulacsy Elizabeth Director | Award | 1,087 | $44.4K |
| Oct 31, 2025 | HOLDEN BETSY D Director | Award | 1,288 | $52.6K |
| Oct 31, 2025 | Witherspoon Kamau Omari Director | Award | 1,472 | $60.1K |
| Oct 31, 2025 | Beall Pamela K.M. Director | Award | 888 | $36.3K |
| Oct 31, 2025 | COSLER STEVEN D Director | Award | 1,583 | $64.6K |
| Oct 31, 2025 | FICK DAVID M Director | Award | 1,851 | $75.6K |
| Aug 21, 2025 | Miller Michelle Lynn EVP,Chief Acctg & Tech Officer | Sale | 10,000 | $422.0K |
| Aug 1, 2025 | Lewis Joshua Phillip EVP, CIO | Award | 10,000 | $412.6K |
| Jul 31, 2025 | COSLER STEVEN D Director | Award | 1,492 | $62.8K |
| Jul 31, 2025 | Beall Pamela K.M. Director | Award | 861 | $36.2K |
| Jul 31, 2025 | FICK DAVID M Director | Award | 1,739 | $73.2K |
| Jul 31, 2025 | FRITSCH EDWARD J Director | Award | 861 | $36.2K |
| Jul 31, 2025 | Gulacsy Elizabeth Director | Award | 1,033 | $43.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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