NNN REIT Stable Triple-Net Income with Decades of Dividend Growth

Core Viewpoint - NNN REIT, Inc. is a retail-focused REIT with a strong history of dividend growth and a stable income-generating portfolio, primarily through triple-net leases with national and regional tenants [1][2]. Group 1: Dividend Growth - In 2025, NNN delivered its 36th consecutive year of dividend growth, placing it among a select group of REITs and publicly traded companies that have achieved such a milestone [2]. - The company's payout ratio is below 70% of FFO, indicating a sustainable capacity for continued dividend increases [3]. Group 2: Financial Stability - NNN maintains a conservative balance sheet with leverage around 5.6x, providing ample room for growth while rewarding shareholders [3]. - The company is actively pursuing new property acquisitions, targeting $850 million to $950 million, partially funded by selling $170 million to $200 million of assets [4]. Group 3: Investment Strategy - A significant portion of NNN's investments, approximately 72% since 2010, has been through long-standing tenant relationships, often via sale-leaseback deals, ensuring a steady pipeline of income-producing properties [4].