12 Best REIT Dividend Stocks to Buy Now

9. NNN REIT, Inc. (NYSE:NNN)

Number of Hedge Fund Holders: 24

NNN REIT, Inc. (NYSE:NNN) is a Florida-based real estate investment trust company that mainly invests in restaurant properties. The company has grown its portfolio by adding income-producing retail properties. It spent $565.5 million in 75 acquisitions over the past year, which had an average initial cap rate of 7.7% and a weighted average lease term of 18.5 years. The acquisitions were funded via post-dividend free cash flow, by the sale of 41 non-core properties for $148.7 million, by $214.3 million through equity offerings, and by additional long-term borrowings.

As of June 30, NNN REIT, Inc. (NYSE:NNN) owned 3,663 properties in all 50 states, aggregating approximately 38.3 million square feet of rentable space and a weighted-average remaining lease term of 10 years. Its growth is largely driven by its existing tenants. The company has purchased in excess of $10 billion in properties since 2007, with over 70% of these transactions derived from existing tenant relationships.

On top of that, NNN REIT, Inc. (NYSE:NNN) has a strong dividend history. The company has been increasing its dividends for 36 straight years, making it one of the best REIT dividend stocks. It pays a quarterly dividend of $0.60 per share, with a dividend yield of 5.58% as of October 1.