The REIT raised its 2026 adjusted funds from operations outlook after reporting a 5.9% year-over-year increase in Q2 AFFO.
NNN REIT increased its 2026 adjusted funds from operations per share guidance to $3.55-$3.59, up from a prior range, and raised its acquisition guidance midpoint to $750 million. The upgrade follows lower-than-expected bad debt and improved operating performance in the second quarter.
Second-quarter AFFO rose 5.9% year over year to $0.90 per share, while occupancy reached 99.1%. The company invested $290 million in 89 properties and maintained strong rent collections. Core FFO increased 6.0% to $0.89 per share.
NNN also raised its quarterly dividend by 3.3% to $0.62 per share, marking its 37th consecutive annual increase. The company ended the quarter with $1.4 billion in liquidity and continued to focus on vacant-property sales and re-leasing efforts.