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BofA Updates Net Lease REIT Outlook, Raises NNN REIT (NNN) Target to $46

NNN REIT, Inc. (NYSE:NNN) is included among the 13 Best REIT Dividend Stocks to Invest in.

On February 17, BofA analyst Jana Galan raised the firm’s price recommendation on NNN REIT, Inc. (NYSE:NNN) to $46 from $45. The firm reiterated an Underperform rating on the shares. The analyst said the firm is updating its price targets for triple-net REITs under coverage following Q4 results. The firm noted that acquisition activity remained elevated in Q4. Most net lease REITs are expected to maintain 100–150bp investment spreads. It also pointed to potential upside to guidance tied to increased investment activity.

During the company’s Q4 2025 earnings call, CEO Stephen Horn said NNN REIT delivered AFFO per share growth of 2.7% and completed more than $900 million in acquisitions during the year. That marked the largest annual acquisition volume in the company’s history. Horn also spoke about the company’s dividend record. He noted that NNN REIT achieved its 36th consecutive annual dividend increase. He pointed to the strength and flexibility of the balance sheet, which includes a weighted average debt maturity of about 10.8 years, no encumbered assets, and roughly $1.2 billion in available liquidity.

He also said the company finalized the positioning of its executive leadership team while continuing to execute its acquisition strategy and actively manage its portfolio. Horn noted that occupancy improved by 80 basis points from the previous quarter to 98.3%. That level brought it back in line with the company’s long-term average. He said the improvement largely reflected strong execution by the asset management and leasing teams, which focused on resolving the higher number of vacant properties that remained at the end of the third quarter.

NNN REIT, Inc. (NYSE:NNN) is a fully integrated real estate investment trust (REIT). The company acquires, owns, invests in, and develops properties that are leased primarily to retail tenants under long-term net leases and are mainly held for investment.

While we acknowledge the potential of NNN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NNN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 40 Most Popular Stocks Among Hedge Funds Heading into 2026 and Dividend Kings List: Top 15 Stocks

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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