REITWAVE.COM Institutional Equity Tear Sheet Generator
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REITWAVE.COM | INSTITUTIONAL REAL ESTATE RESEARCH
AS OF: OCTOBER 24, 2026  |  10Y TREASURY: 4.99%  |  SIC 6798

NNN REIT, Inc. ($NNN)

Sector: Retail / Net Lease  •  Exchange / CIK: NYSE / 0000751364  •  Properties: 3,540 Assets
Trading at a 10.0% discount to NAV
Safety Score: 91/100 (Very Safe)  |  Credit: BBB+ / Baa1

Live Share Price

$41.72
52W Range: $38.90 - $50.00

Valuation Multiples

12.6x P/AFFO
P/FFO: 12.3x  |  FFO/sh: $3.38

Net Asset Value (NAV)

$46.80
Prem/Disc: -10.0%  |  Cap: 6.67%

Dividend Cash Flow

5.61% Yield
$2.34/yr (Quarterly)  |  Payout: 70.5%
Balance Sheet & Debt Maturity Sentry
Net Debt to EBITDAre stands at 5.4x. Portfolio leased occupancy is 99.3% with a weighted average lease term (WALT) of 10.1 years. Senior credit rating of BBB+ / Baa1 provides institutional capital markets access for debt refinancing.
Recent Dividend Payment History (Last 6 Declarations)
Ex-Dividend Date Record / Pay Date Cash Distribution Status / Corporate Action
2026-09-30 2026-10-15 $0.5850 Regular Distribution
Representative Commercial Asset Concentrations (From SEC Form 10-K Item 2)
Commercial Asset / Property Name Location Rentable Sq Ft Occupancy Implied Asset Valuation
NNN REIT, Inc. Flagship Commercial Portfolio United States Nationwide 442,500,000 sq ft (implied) 99.3% $7,020,000,000
Quantitative Risk & Benchmark Performance (QuantStats • VNQ)
Empirical 252-day trading window compared to Vanguard Real Estate ETF (VNQ) benchmark
METHODOLOGY: QUANTSTATS / CAPM
Beta vs VNQ
0.9
Index Tracking (Market Neutral)
Annualized Alpha (α)
+1.67%
Outperforming VNQ
Sharpe Ratio (vs VNQ)
0.09 vs 0.04
+0.05 Spread
Max Drawdown (1-Yr)
-18.6% vs -11.4%
-7.2% vs VNQ
NNN vs VNQ QuantStats Performance & Underwater Drawdown
Quantitative Risk & Return Metric NNN VNQ (Benchmark) Institutional Delta / Spread
Beta (β) vs VNQ
Covariance sensitivity to US REIT market
 0.9 1.00 -0.10 (Index Tracking (Market Neutral))
Annualized Alpha (α)
Excess CAPM risk-adjusted performance
 +1.67% 0.00% (Baseline) Outperforming VNQ
Sharpe Ratio (Rf = 4.5%)
Annualized excess return per unit of volatility
 0.09 0.04 +0.05
Sortino Ratio
Downside semi-variance risk-adjusted return
 0.09 0.03 +0.06
Annualized Volatility (σ)
Standard deviation of daily price returns × √252
 17.5% 13.9% +3.6% (Higher Volatility)
Maximum Drawdown (1-Year)
Peak-to-trough capital decline over trailing 12M
 -18.6% -11.4% -7.2% vs VNQ
1-Year Trailing Return (CAGR)
Compounded annual growth rate
 4.7% 4.1% +0.6% Spread
R-Squared (R²) & Correlation
Statistical correlation coefficient against VNQ
 R² 0.51 Corr: 0.71 51% variance explained by VNQ
Trading Session Win Rate
Percentage of positive daily closing sessions
 50.4% 51.6% -1.2% vs Benchmark
QuantStats Analytical Synthesis: NNN displays a Beta of 0.90 relative to VNQ with 0.51 R² correlation. Annualized volatility is 17.5% (3.6% higher than VNQ at 13.9%). Trailing 12-month Alpha stands at +1.67% (Outperforming VNQ) with a Sharpe ratio of 0.09 against 0.04 for VNQ, and a maximum drawdown of -18.6%.
SEC CIK: 0000751364  |  Principal Executive Officer: Stephen A. Horn, Jr.  |  Total PEO Compensation: $5,250,000 (61:1)
Official SEC Accession: 0000751365-26-000019
CONFIDENTIAL INSTITUTIONAL TEAR SHEET • REITWAVE.COM (v1.0.0) • Data Sources: SEC EDGAR Form 10-K / DEF 14A, PR Newswire, Bloomberg/CBRE Comps. For institutional and accredited investor due diligence. Not a solicitation or investment recommendation.