NNN REIT (NNN) Gets Higher Price Target from Citi Ahead of Market Outlook

NNN REIT, Inc. (NYSE:NNN) is included among the 11 Best Rising Dividend Stocks to Buy Right Now.

NNN REIT (NNN) Gets Higher Price Target from Citi Ahead of Market Outlook

On May 7, Citi raised its price target on NNN REIT, Inc. (NYSE:NNN) to $46 from $42 and maintained a Neutral rating on the stock.

During the company’s Q1 2026 earnings call, CEO Stephen Horn said NNN’s disciplined, efficient, and self-funded growth strategy continued to deliver solid results. He pointed to first-quarter investment activity that included 15 transactions across 41 properties, representing total investments of $145 million at an initial cash yield of 7.5%.

Horn also highlighted the company’s liquidity position, which stood at $1.2 billion, along with its weighted average debt maturity of nearly 11 years, one of the longest in the industry. The company also raised its 2026 AFFO per share guidance to a range of $3.53 to $3.59. Horn said NNN plans to take a more proactive approach to asset sales during 2026 as part of its long-term effort to improve portfolio quality.

On the operating side, Horn said NNN renewed 36 of 43 lease expirations at rental rates that were 2% higher than previous levels. He added that seven properties were leased to new tenants at rents roughly 10% above prior levels. Occupancy also improved by 30 basis points from the previous quarter to 98.6%.

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

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