NNN REIT, Inc. is a fully integrated real estate investment trust (REIT) that acquires, owns, and develops single-tenant retail properties across the United States. The company's business model is centered on long-term, triple-net lease arrangements, where tenants are responsible for most operating expenses, including property taxes, insurance, and maintenance. This structure provides NNN with a highly predictable and stable revenue stream while minimizing ongoing capital expenditures. As of early 2026, the company's portfolio consists of over 3,700 properties spanning approximately 39.6 million square feet of gross leasable area across all 50 states. NNN REIT generates 100% of its revenue from rental income derived from its real estate portfolio. To mitigate risk, the company maintains a highly diversified tenant base across various retail lines of trade, with significant concentrations in convenience stores, automotive service centers, restaurants, and health clubs. NNN REIT's competitive position is bolstered by its disciplined capital allocation strategy, strong balance sheet, and a weighted average remaining lease term of over 10 years. The company is notable for its track record of increasing annual dividends for 36 consecutive years, making it one of the most consistent dividend-paying REITs in the public markets.
