NNN NNN REIT, Inc. Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$40.95
· of 52w range
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$38.9052w low
$50.0052w high
Market Cap (MRQ)
$7.86B
P/E (TTM)
20.1
EPS (TTM)
$2.04
Revenue (TTM)
$953M
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52W Range
$39–$50
Analyst Rating
HOLD
Price Target
$48
P/E
20.1
ROE
8.7%
Net Profit Margin
40.4%
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NNN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$40.95
Market Cap (MRQ)
$7.86B
P/E (TTM)
20.1
EPS (TTM)
$2.04
Revenue (TTM)
$953M
Div Yield
5.7%
ROE (TTM)
8.7%
52W Range
$39–$50
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About NNN REIT, Inc. Common Stock Company overview from Wikipedia
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
As of December 31, 2019, the company owned 3,118 properties containing 32.5 million square feet, 17.6% of the company's revenue was from properties in Texas, and 8.8% of the company's revenue was from properties in Florida.
## History
The company was formed in 1984 as Golden Corral Realty Corp. as a way for the owners of the Golden Corral restaurant chain to allow employees to invest in the company.
In 1993, the company split from Golden Corral, and changed its name to Commercial Net Lease Realty. The company also moved its listing to the New York Stock Exchange.
On January 1, 1998, the company merged with its former external adviser, CNL Realty Advisor Inc., and became a self-advised, self-managed REIT.
In February 2004, Craig Macnab was named chief executive officer of the company. In May 2004, he was also named president.
In 2005, the company acquired National Properties Corporation for $61 million.
In May 2006, the company changed its name to National Retail Properties, Inc.
In 2015, the company acquired 19 Frisch's restaurants in the Cincinnati, Ohio area for $47 million in a leaseback transaction. Eventually, they acquired the majority of the restaurants.
In April 2017, Craig Macnab retired and Jay Whitehurst became CEO & President of the company.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorReal Estate
industryReal Estate
employees85
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$926M2016-12-31 → 2025-12-31
EPS$2.072016-12-31 → 2025-12-31
Net margin40.4%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NNN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 20.15Y avg ≈22.8 | ≈22.8 | 22.8 | Fair value | |
| P/S (TTM) | 8.25Y avg ≈9.8 | ≈9.8 | 7.8 | Overvalued | |
| P/B (MRQ) | 1.85Y avg ≈1.9 | ≈1.9 | 2.0 | Fair value | |
| Price / Cash Flow | 11.75Y avg ≈13.1 | ≈13.1 | 12.9 | Undervalued | |
| Price / Tangible Book | 1.85Y avg ≈1.9 | ≈1.9 | · | · | |
| PEG Ratio | ≈1.8 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NNN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 62.3%5Y avg ≈64.3% | ≈64.3% | 46.0% | Top tier | |
| EBITDA Margin (TTM) | 91.4%5Y avg ≈93.0% | ≈93.0% | 42.0% | Top tier | |
| Net Profit Margin (TTM) | 40.4%5Y avg ≈43.7% | ≈43.7% | 27.2% | Top tier | |
| ROA (TTM) | 4.1%5Y avg ≈4.3% | ≈4.3% | 4.2% | In line | |
| ROE (TTM) | 8.7%5Y avg ≈8.6% | ≈8.6% | 8.3% | In line |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NNN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Interest Coverage | 2.95Y avg ≈3.2 | ≈3.2 | 3.0 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | NNN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 6.6%5Y avg ≈7.0% | ≈7.0% | · | · | |
| Revenue CAGR 3Y | 6.2%5Y avg ≈6.7% | ≈6.7% | · | · | |
| Revenue CAGR 5Y | 7.0% | · | · | · | |
| EPS YoY | -3.7%5Y avg ≈11.8% | ≈11.8% | · | · | |
| Net Income YoY | -1.8%5Y avg ≈11.8% | ≈11.8% | · | · | |
| EPS CAGR 3Y | 3.1%5Y avg ≈12.2% | ≈12.2% | · | · | |
| EPS CAGR 5Y | 11.2% | · | · | · | |
| Net Income CAGR 3Y | 5.2%5Y avg ≈12.0% | ≈12.0% | · | · | |
| Net Income CAGR 5Y | 11.2% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NNN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | 0.1 | Weak | |
| Revenue / Employee | ≈$10.9M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield5.7%
Payout Ratio113.7%
Annualized Payout≈$2.48
5Y Div CAGR≈2.7%
Growth Streak≈34
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jul 31, 2026 | $0.62 | USD | ≈5.1% |
| Apr 30, 2026 | $0.60 | USD | ≈5.5% |
| Jan 30, 2026 | $0.60 | USD | ≈5.7% |
| Oct 31, 2025 | $0.60 | USD | ≈5.8% |
| Jul 31, 2025 | $0.60 | USD | ≈5.7% |
| Apr 30, 2025 | $0.58 | USD | ≈5.6% |
| Jan 31, 2025 | $0.58 | USD | ≈5.9% |
| Oct 31, 2024 | $0.58 | USD | ≈5.3% |
| Jul 31, 2024 | $0.58 | USD | ≈5.1% |
| Apr 29, 2024 | $0.57 | USD | ≈5.6% |
| Jan 30, 2024 | $0.57 | USD | ≈5.5% |
| Oct 30, 2023 | $0.57 | USD | ≈6.3% |
| Jul 28, 2023 | $0.57 | USD | ≈5.2% |
| Apr 27, 2023 | $0.55 | USD | ≈5.1% |
| Jan 30, 2023 | $0.55 | USD | ≈4.6% |
| Oct 28, 2022 | $0.55 | USD | ≈5.2% |
| Jul 28, 2022 | $0.55 | USD | ≈4.5% |
| Apr 28, 2022 | $0.53 | USD | ≈4.6% |
| Jan 28, 2022 | $0.53 | USD | ≈4.9% |
| Oct 28, 2021 | $0.53 | USD | ≈4.6% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
4.0%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $0.52 | $0.51 | 1.6% |
| March 31, 2026 | $0.50 | $0.51 | -2.2% | |
| Dec. 31, 2025 | $0.51 | $0.49 | 3.4% | |
| Sept. 30, 2025 | $0.51 | $0.48 | 5.6% | |
| June 30, 2025 | $0.54 | $0.49 | 10.0% | |
| March 31, 2025 | $0.51 | $0.48 | 5.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $926M | $869M | $828M | $773M | $726M | $661M | $670M | $623M | $585M | $534M | $483M | $435M | |
| SG&A Expense | $47M | $44M | $44M | $42M | $45M | $38M | $38M | $34M | $34M | $37M | $35M | $33M | |
| Operating Expenses | $385M | $334M | $320M | $308M | $300M | $302M | $286M | $263M | $247M | $225M | $194M | $169M | |
| Operating Income | $589M | $578M | $555M | $483M | $449M | $374M | $417M | $425M | $374M | $336M | $289M | $266M | |
| Interest Expense | $204M | $184M | $164M | $148M | $138M | $129M | $120M | $116M | $109M | $96M | $90M | $86M | |
| Interest Income | $2M | $2M | $2M | $1M | $3M | $2M | $1M | $1M | $1M | $3M | $988.0K | $2M | |
| Other Non-op | $-200M | $-181M | $-163M | $-148M | $-159M | $-146M | $-117M | $-132M | $-109M | $-97M | $-91M | $-87M | |
| Pretax Income | · | · | · | · | · | · | · | · | $229M | $212M | $198M | $180M | |
| Income Tax | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $10M | $-75.0K | |
| Net Income | $390M | $397M | $392M | $335M | $290M | $229M | $299M | $292M | $265M | $240M | $198M | $191M | |
| EPS (Basic) | $2.07 | $2.16 | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 | $1.45 | $1.39 | $1.21 | $1.24 | |
| EPS (Diluted) | $2.07 | $2.15 | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 | $1.45 | $1.38 | $1.20 | $1.24 | |
| Shares (Basic) | 187,611,451 | 183,688,562 | 181,200,040 | 176,403,656 | 174,710,921 | 172,109,713 | 164,688,498 | 155,744,601 | 149,111,188 | 144,176,224 | 133,998,674 | 124,257,558 | |
| Shares (Diluted) | 187,986,798 | 184,043,841 | 181,689,723 | 177,067,865 | 174,818,899 | 172,217,077 | 165,083,679 | 156,295,619 | 149,432,641 | 144,660,633 | 134,489,416 | 124,710,226 | |
| EBITDA | $858M | $828M | $794M | $706M | $654M | $571M | $606M | $599M | $511M | $458M | $423M | $382M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5M | $9M | $1M | $3M | $171M | $267M | $1M | $114M | $1M | $295M | $14M | $11M | |
| Total Assets | $9.38B | $8.87B | $8.66B | $8.15B | $7.75B | $7.64B | $7.43B | $7.10B | $6.56B | $6.33B | $5.46B | $4.92B | |
| Total Liabilities | $4.97B | $4.51B | $4.50B | $4.02B | $3.85B | $3.32B | $3.10B | $2.95B | $2.72B | $2.42B | $2.12B | $1.83B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | |
| Paid-in Capital | $5.30B | $5.20B | $4.97B | $4.93B | $4.66B | $4.63B | $4.50B | $3.95B | $3.60B | $3.32B | $3.05B | $2.71B | |
| Retained Earnings | $-883M | $-829M | $-806M | $-794M | $-748M | $-645M | $-499M | $-424M | $-379M | $-319M | $-263M | $-197M | |
| AOCI | $-6M | $-8M | $-10M | $-13M | $-15M | $-16M | $-11M | $-6M | $-14M | $-8M | $-20M | $-9M | |
| Stockholders' Equity | $4.41B | $4.36B | $4.16B | $4.12B | $3.90B | $4.32B | $4.33B | $4.15B | $3.84B | $3.92B | $3.34B | $3.08B | |
| Liabilities + Equity | $9.38B | $8.87B | $8.66B | $8.15B | $7.75B | $7.64B | $7.43B | $7.10B | $6.56B | $6.33B | $5.46B | $4.92B | |
| Shares Outstanding | 189,937,404 | 187,540,929 | 182,474,770 | 181,424,670 | 175,635,792 | 175,232,971 | 171,694,209 | 161,503,585 | 153,577,028 | 147,149,945 | 141,007,725 | 132,010,104 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $268M | $250M | $239M | $224M | $205M | $197M | $189M | $174M | $174M | $149M | $135M | $116M | |
| Deferred Tax | · | · | · | · | · | · | · | · | $0 | $0 | $10M | $58.0K | |
| Amort. of Intangibles | · | · | · | · | · | · | · | $9M | $19M | $13M | · | · | |
| Other Non-cash | $9M | $-11M | $-19M | $20M | $73M | $25M | $14M | $5M | $-17M | $27M | $-2M | $-10M | |
| Operating Cash Flow | $667M | $636M | $612M | $578M | $568M | $450M | $502M | $472M | $422M | $415M | $341M | $297M | |
| Investing Cash Flow | $-748M | $-424M | $-681M | $-778M | $-432M | $-143M | $-619M | $-609M | $-626M | $-780M | $-645M | $-542M | |
| Stock Issued | $85M | $218M | $32M | $254M | $4M | $126M | $542M | $345M | $257M | $278M | $332M | $360M | |
| Net Stock Activity | $85M | $218M | $32M | $254M | $4M | $126M | $542M | $345M | $257M | $278M | $332M | $360M | |
| Dividends Paid | $443M | $420M | $404M | $381M | $367M | $356M | $334M | $303M | $277M | $257M | $229M | $204M | |
| Financing Cash Flow | $78M | $-207M | $67M | $35M | $-232M | $-41M | $5M | $250M | $-89M | $645M | $307M | $254M | |
| Net Change in Cash | $-3M | $4M | $-2M | $-165M | $-96M | $266M | $-113M | $113M | $-293M | $280M | $4M | $9M | |
| Taxes Paid | · | · | · | · | · | · | $0 | $0 | $-15.0K | $-155.0K | $234.0K | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 63.6% | 66.5% | 67.0% | 62.4% | 61.8% | 56.7% | 62.2% | 68.2% | 57.7% | 57.9% | 59.8% | 61.2% | |
| Net Margin | 42.1% | 45.6% | 47.4% | 43.3% | 39.9% | 34.6% | 44.6% | 47.0% | 45.3% | 44.9% | 41.0% | 43.8% | |
| Pretax Margin | · | · | · | · | · | · | · | · | 39.1% | 39.8% | 41.0% | 41.3% | |
| EBITDA Margin | 92.6% | 95.2% | 95.9% | 91.4% | 90.1% | 86.4% | 90.3% | 96.2% | 87.4% | 85.9% | 87.7% | 87.9% | |
| ROA | 4.3% | 4.5% | 4.7% | 4.2% | 3.8% | 3.0% | 4.1% | 4.3% | 4.1% | 4.1% | 3.8% | 4.1% | |
| ROE | 8.9% | 9.3% | 9.5% | 8.3% | 7.1% | 5.3% | 7.0% | 7.3% | 6.8% | 6.6% | 6.2% | 6.5% | |
| ROIC | · | · | · | · | · | · | · | · | 8.8% | 7.9% | 8.2% | 8.6% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 2.9 | 3.1 | 3.4 | 3.3 | 3.3 | 2.9 | 3.5 | 3.7 | 3.1 | 3.2 | 3.2 | 3.1 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $23.21 | $23.26 | $22.78 | $22.73 | $22.21 | $24.65 | $25.23 | $25.72 | $25.01 | $27.78 | $23.70 | $23.35 | |
| Revenue / Share | $4.93 | $4.72 | $4.56 | $4.37 | $4.16 | $3.84 | $4.06 | $3.98 | $3.91 | $3.69 | $3.59 | $3.49 | |
| Cash Flow / Share | $3.55 | $3.45 | $3.37 | $3.27 | $3.25 | $2.61 | $3.04 | $3.02 | $2.82 | $2.87 | $2.54 | $2.38 | |
| Cash / Share | $0.03 | $0.05 | $0.01 | $0.01 | $0.98 | $1.52 | $0.01 | $0.71 | $0.01 | $2.09 | $0.10 | $0.08 | |
| Dividend / Share | $2.36 | $2.29 | $2.23 | $2.16 | $2.10 | $2.07 | $2.03 | $1.95 | $1.86 | $1.78 | $1.71 | $1.65 | |
| Dividend Paid / Share | · | · | · | · | $2.10 | $2.07 | $2.03 | $1.95 | $1.86 | $1.78 | $1.71 | $1.65 | |
| EPS (TTM) | $2.07 | $2.15 | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 | $1.45 | $1.38 | $1.20 | $1.24 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 6.6% | 5.0% | 7.1% | 6.4% | 10.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 6.2% | 6.2% | 7.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -3.7% | -0.46% | 14.3% | 25.2% | 23.8% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 3.1% | 12.5% | 21.0% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 11.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.8% | 1.1% | 17.2% | 15.3% | 26.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 5.2% | 11.0% | 19.7% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 11.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 4.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $926M | $869M | $828M | $773M | $726M | $661M | $670M | $623M | $585M | $534M | $483M | $435M | |
| Net Income TTM | $390M | $397M | $392M | $335M | $290M | $229M | $299M | $292M | $265M | $240M | $198M | $191M | |
| Market Cap | $7.53B | $7.66B | $7.86B | $8.30B | $8.44B | $7.17B | $9.21B | $7.83B | $6.62B | $6.23B | $5.65B | $5.20B | |
| P/E | 19.1 | 19.0 | 20.0 | 24.2 | 31.8 | 33.5 | 34.4 | 29.4 | 29.7 | 32.0 | 33.4 | 31.8 | |
| P/S | 8.1 | 8.8 | 9.5 | 10.7 | 11.6 | 10.9 | 13.7 | 12.6 | 11.3 | 11.7 | 11.7 | 12.0 | |
| P/B | 1.7 | 1.8 | 1.9 | 2.0 | 2.2 | 1.7 | 2.1 | 1.9 | 1.7 | 1.6 | 1.7 | 1.7 | |
| P / Tangible Book | 1.7 | 1.8 | 1.9 | 2.0 | 2.2 | 1.7 | · | · | · | · | · | · | |
| P / Cash Flow | 11.3 | 12.1 | 12.8 | 14.4 | 14.9 | 15.9 | 18.3 | 16.6 | 15.7 | 15.0 | 16.6 | 17.5 | |
| Dividend Yield | 5.9% | 5.5% | 5.1% | 4.6% | 4.3% | 5.0% | 3.6% | 3.9% | 4.2% | 4.1% | 4.0% | 3.9% | |
| Earnings Yield | 5.2% | 5.3% | 5.0% | 4.1% | 3.1% | 3.0% | 2.9% | 3.4% | 3.4% | 3.1% | 3.0% | 3.1% | |
| Payout Ratio | 113.7% | 105.9% | 103.1% | 113.7% | 126.6% | 155.8% | 111.5% | 103.7% | 104.6% | 107.3% | 115.6% | 107.1% | |
| Annual Payout | $443M | $420M | $404M | $381M | $367M | $356M | $334M | $303M | $277M | $257M | $229M | $204M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $244M | $240M | $238M | $230M | $227M | $231M | $218M | $219M | $217M | $215M | $216M | $205M | $203M | $204M | $199M | $193M | |
| SG&A Expense | $14M | $14M | $12M | $11M | $11M | $13M | $9M | $11M | $12M | $13M | $11M | $10M | $11M | $12M | $11M | $10M | |
| Operating Expenses | $102M | $106M | $105M | $95M | $93M | $91M | $87M | $83M | $82M | $82M | $84M | $77M | $78M | $81M | $77M | $74M | |
| Operating Income | $151M | $147M | $149M | $147M | $150M | $144M | $144M | $144M | $152M | $138M | $140M | $148M | $139M | $129M | $128M | $125M | |
| Interest Expense | $53M | $53M | $54M | $53M | $49M | $48M | $47M | $46M | $47M | $44M | $43M | $42M | $40M | $39M | $38M | $37M | |
| Interest Income | $2M | $410.0K | $863.0K | $386.0K | $304.0K | $280.0K | $134.0K | $409.0K | $673.0K | $582.0K | $1M | $276.0K | $214.0K | $478.0K | $303.0K | $369.0K | |
| Other Non-op | $-53M | $-53M | $-53M | $-50M | $-49M | $-47M | $-46M | $-46M | $-46M | $-44M | $-43M | $-41M | $-40M | $-39M | $-38M | $-37M | |
| Net Income | $98M | $94M | $96M | $97M | $101M | $96M | $98M | $98M | $107M | $94M | $97M | $107M | $99M | $90M | $91M | $88M | |
| EPS (Basic) | $0.52 | $0.50 | $0.50 | $0.51 | $0.54 | $0.52 | $0.53 | $0.53 | $0.58 | $0.52 | $0.53 | $0.59 | $0.54 | $0.50 | $0.51 | $0.50 | |
| EPS (Diluted) | $0.52 | $0.50 | $0.51 | $0.51 | $0.54 | $0.51 | $0.52 | $0.53 | $0.58 | $0.52 | $0.53 | $0.59 | $0.54 | $0.50 | $0.51 | $0.50 | |
| Shares (Basic) | 189,078,464 | 189,031,812 | · | 187,838,711 | 186,876,693 | 186,855,097 | · | 184,007,176 | 182,438,791 | 181,794,208 | · | 181,398,273 | 181,092,031 | 180,845,503 | · | 176,900,786 | |
| Shares (Diluted) | 189,620,010 | 189,458,620 | · | 188,332,789 | 187,070,288 | 187,080,084 | · | 184,561,431 | 182,807,374 | 182,212,897 | · | 181,721,467 | 181,627,857 | 181,434,345 | · | 177,367,710 | |
| EBITDA | $151M | $217M | · | $147M | $150M | $208M | · | $144M | $152M | $199M | · | $148M | $139M | $188M | · | $125M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4M | $5M | $5M | $158M | $6M | $5M | $9M | $174M | $2M | $1M | · | $77M | $2M | $3M | · | $3M | |
| Total Assets | $9.61B | $9.42B | $9.38B | $9.48B | $9.15B | $9.02B | $8.87B | $8.92B | $8.73B | $8.71B | · | $8.56B | $8.35B | $8.24B | · | $7.95B | |
| Total Liabilities | $5.15B | $5.03B | $4.97B | $5.06B | $4.79B | $4.67B | $4.51B | $4.55B | $4.53B | $4.53B | · | $4.40B | $4.20B | $4.10B | · | $3.94B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Paid-in Capital | $5.38B | $5.30B | $5.30B | $5.29B | $5.22B | $5.20B | $5.20B | $5.19B | $5.01B | $5.00B | · | $4.97B | $4.96B | $4.95B | · | $4.80B | |
| Retained Earnings | $-918M | $-902M | $-883M | $-865M | $-849M | $-841M | $-829M | $-819M | $-811M | $-814M | · | $-800M | $-804M | $-803M | · | $-787M | |
| AOCI | $-671.0K | $-4M | $-6M | $-7M | $-7M | $-8M | $-8M | $-8M | $-9M | $-9M | · | $-11M | $-11M | $-12M | · | $-13M | |
| Stockholders' Equity | $4.46B | $4.40B | $4.41B | $4.42B | $4.36B | $4.36B | $4.36B | $4.37B | $4.19B | $4.17B | · | $4.16B | $4.15B | $4.13B | · | $4.01B | |
| Liabilities + Equity | $9.61B | $9.42B | $9.38B | $9.48B | $9.15B | $9.02B | $8.87B | $8.92B | $8.73B | $8.71B | · | $8.56B | $8.35B | $8.24B | · | $7.95B | |
| Shares Outstanding | 191,931,110 | 190,249,614 | 189,937,404 | 189,884,648 | 188,206,484 | 187,950,480 | 187,540,929 | 187,525,891 | 183,666,067 | 183,350,322 | · | 182,440,174 | 182,407,911 | 182,087,429 | · | 178,731,891 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $71M | $71M | $68M | $67M | $68M | $65M | $63M | $63M | $63M | $61M | $60M | $60M | $60M | $59M | $57M | $56M | |
| Other Non-cash | · | $22M | · | · | · | $42M | · | · | · | $36M | · | · | · | $32M | · | · | |
| Operating Cash Flow | $142M | $187M | $126M | $218M | $119M | $203M | $118M | $207M | $120M | $191M | $122M | $192M | $118M | $181M | $113M | $190M | |
| Investing Cash Flow | $-250M | $-106M | $-113M | $-248M | $-172M | $-215M | $-179M | $-106M | $-42M | $-98M | $-244M | $-148M | $-146M | $-142M | $-251M | $-197M | |
| Net Debt Issued | · | $0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $75M | $699.0K | $2M | $72M | $11M | $655.0K | $647.0K | $182M | $13M | $22M | $800.0K | $763.0K | $14M | $17M | $123M | $98M | |
| Net Stock Activity | · | $699.0K | · | · | · | $655.0K | · | · | · | $22M | · | · | · | $17M | · | · | |
| Dividends Paid | $114M | $114M | $113M | $113M | $109M | $108M | $108M | $106M | $103M | $103M | $103M | $103M | $100M | $99M | $98M | $97M | |
| Financing Cash Flow | $108M | $-81M | $-166M | $182M | $53M | $8M | $-108M | $61M | $-63M | $-97M | $30M | $50M | $27M | $-40M | $141M | $7M | |
| Net Change in Cash | $-1M | $-425.0K | $-153M | $152M | $1M | $-4M | $-169M | $162M | $16M | $-4M | $-93M | $93M | $-74.0K | $-1M | $4M | $-12.0K |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 62.0% | 61.0% | · | 64.0% | 66.0% | 62.3% | · | 65.7% | 70.2% | 64.2% | · | 72.0% | 68.5% | 63.2% | · | 64.8% | |
| Net Margin | 40.1% | 39.1% | · | 42.1% | 44.3% | 41.8% | · | 44.8% | 49.2% | 43.8% | · | 52.1% | 48.7% | 44.2% | · | 45.7% | |
| EBITDA Margin | 62.0% | 90.4% | · | 64.0% | 66.0% | 90.3% | · | 65.7% | 70.2% | 92.3% | · | 72.0% | 68.5% | 92.2% | · | 64.8% | |
| ROA | 1.0% | 1.0% | · | 1.1% | 1.1% | 1.1% | · | 1.1% | 1.2% | 1.1% | · | 1.3% | 1.2% | 1.1% | · | 1.1% | |
| ROE | 2.2% | 2.1% | · | 2.2% | 2.4% | 2.3% | · | 2.3% | 2.6% | 2.3% | · | 2.6% | 2.5% | 2.2% | · | 2.1% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 2.8 | 2.8 | · | 2.8 | 3.0 | 3.0 | · | 3.1 | 3.3 | 3.1 | · | 3.6 | 3.5 | 3.3 | · | 3.4 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $23.24 | $23.10 | · | $23.28 | $23.18 | $23.18 | · | $23.30 | $22.84 | $22.77 | · | $22.79 | $22.75 | $22.71 | · | $22.42 | |
| Revenue / Share | $1.29 | $1.27 | · | $1.22 | $1.21 | $1.23 | · | $1.18 | $1.19 | $1.18 | · | $1.13 | $1.12 | $1.12 | · | $1.09 | |
| Cash Flow / Share | · | $0.99 | · | · | · | $1.09 | · | · | · | $1.05 | · | · | · | $1.00 | · | · | |
| Cash / Share | $0.02 | $0.02 | · | $0.83 | $0.03 | $0.03 | · | $0.93 | $0.01 | $0.01 | · | $0.42 | $0.01 | $0.02 | · | $0.02 | |
| Dividend / Share | $0.60 | $0.60 | $0.60 | $0.60 | $0.58 | $0.58 | $0.58 | $0.58 | $0.56 | $0.56 | $0.56 | $0.56 | $0.55 | $0.55 | $0.55 | $0.55 | |
| Dividend Paid / Share | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0.55 | |
| EPS (TTM) | $2.04 | $2.06 | · | $2.08 | $2.10 | $2.14 | · | $2.16 | $2.22 | $2.18 | · | $2.14 | $2.05 | $1.93 | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $953M | $936M | · | $906M | $895M | $885M | · | $867M | $854M | $839M | · | $810M | $799M | $787M | · | · | |
| Net Income TTM | $385M | $387M | · | $392M | $393M | $399M | · | $396M | $405M | $397M | · | $386M | $368M | $343M | · | · | |
| Market Cap | $8.93B | $8.00B | · | $8.08B | $8.13B | $8.02B | · | $9.09B | $7.82B | $7.84B | · | $6.45B | $7.81B | $8.04B | · | $7.12B | |
| P/E | 22.8 | 20.4 | · | 20.5 | 20.6 | 19.9 | · | 22.4 | 19.2 | 19.6 | · | 16.5 | 20.9 | 22.9 | · | · | |
| P/S | 9.4 | 8.5 | · | 8.9 | 9.1 | 9.1 | · | 10.5 | 9.2 | 9.3 | · | 8.0 | 9.8 | 10.2 | · | · | |
| P/B | 2.0 | 1.8 | · | 1.8 | 1.9 | 1.8 | · | 2.1 | 1.9 | 1.9 | · | 1.6 | 1.9 | 1.9 | · | 1.8 | |
| P / Tangible Book | 2.0 | 1.8 | · | 1.8 | 1.9 | 1.8 | · | 2.1 | 1.9 | 1.9 | · | 1.6 | 1.9 | 1.9 | · | 1.8 | |
| P / Cash Flow | · | 42.8 | · | · | · | 39.4 | · | · | · | 41.1 | · | · | · | 44.5 | · | · | |
| Dividend Yield | 5.1% | 5.6% | · | 5.4% | 5.3% | 5.3% | · | 4.6% | 5.2% | 5.2% | · | 6.2% | 5.1% | 4.8% | · | · | |
| Earnings Yield | 4.4% | 4.9% | · | 4.9% | 4.9% | 5.0% | · | 4.5% | 5.2% | 5.1% | · | 6.1% | 4.8% | 4.4% | · | · | |
| Payout Ratio | · | 120.8% | · | · | · | 112.3% | · | · | · | 108.8% | · | · | · | 110.2% | · | 109.7% | |
| Annual Payout | $453M | $448M | · | $438M | $431M | $426M | · | $415M | $411M | $408M | · | $400M | $394M | $387M | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $926M | $869M | $828M | $773M | $726M |
| Operating Margin % | 63.6% | 66.5% | 67.0% | 62.4% | 61.8% |
| Net Income | $390M | $397M | $392M | $335M | $290M |
| Diluted EPS | $2.07 | $2.15 | $2.16 | $1.89 | $1.51 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 635 filers · $9.5B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
635
Value held
$9.5B
New positions
95
Exited positions
34
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 95 (+2 vs prior Q) | 34 (-9 vs prior Q) | 258 (+28 vs prior Q) | 161 (+23 vs prior Q) | +12.4M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $1,242,751,742 | 26,708,613 | 13.02% | Shares |
| VANGUARD GROUP INC | $1,039,823,749 | 26,238,298 | 10.89% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $780,690,344 | 16,778,215 | 8.18% | Shares |
| FMR LLC | $532,157,120 | 11,436,861 | 5.57% | Shares |
| STATE STREET CORP | $527,954,739 | 11,346,545 | 5.53% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $454,742,651 | 9,773,107 | 4.76% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $398,201,972 | 8,557,962 | 4.17% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $266,209,204 | 5,721,238 | 2.79% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $204,955,012 | 4,403,909 | 2.15% | Shares |
| MORGAN STANLEY | $177,315,687 | 3,810,780 | 1.86% | Shares |
| FEDERATED HERMES, INC. | $145,535,417 | 3,127,776 | 1.52% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $144,957,422 | 3,115,354 | 1.52% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $131,171,086 | 2,818,943 | 1.37% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $128,694,457 | 2,558,445 | 1.35% | Shares |
| Quantinno Capital Management LP | $119,896,825 | 2,576,763 | 1.26% | Shares |
| NORGES BANK | $117,440,324 | 2,523,970 | 1.23% | Shares |
| RUSH ISLAND MANAGEMENT, LP | $115,119,454 | 2,474,091 | 1.21% | Shares |
| JPMORGAN CHASE & CO | $114,700,571 | 2,414,562 | 1.20% | Shares |
| GOLDMAN SACHS GROUP INC | $94,139,538 | 2,023,201 | 0.99% | Shares |
| NORTHERN TRUST CORP | $91,757,857 | 1,972,015 | 0.96% | Shares |
| Daiwa Securities Group Inc. | $89,840,217 | 1,930,802 | 0.94% | Shares |
| TWO SIGMA INVESTMENTS, LP | $89,739,852 | 1,928,645 | 0.94% | Shares |
| BANK OF AMERICA CORP /DE/ | $87,737,470 | 1,885,611 | 0.92% | Shares |
| Bank of New York Mellon Corp | $85,429,999 | 1,836,020 | 0.89% | Shares |
| EQUITY INVESTMENT CORP | $77,566,191 | 1,667,015 | 0.81% | Shares |
| Jefferies Financial Group Inc. | $66,584,430 | 1,431,000 | 0.70% | Shares |
| PRUDENTIAL FINANCIAL INC | $63,513,776 | 1,365,007 | 0.67% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $55,893,976 | 1,201,246 | 0.59% | Shares |
| UBS Group AG | $54,757,946 | 1,176,831 | 0.57% | Shares |
| Mondrian Investment Partners LTD | $52,283,109 | 1,123,643 | 0.55% | Shares |
| Hudson Bay Capital Management LP | $51,284,947 | 1,102,191 | 0.54% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $50,369,046 | 1,198,407 | 0.53% | Shares |
| Legal & General Group Plc | $45,077,194 | 968,777 | 0.47% | Shares |
| Epoch Investment Partners, Inc. | $45,038,388 | 967,943 | 0.47% | Shares |
| Allianz Asset Management GmbH | $41,633,136 | 894,759 | 0.44% | Shares |
| Clearbridge Investments, LLC | $37,807,708 | 812,545 | 0.40% | Shares |
| RAYMOND JAMES FINANCIAL INC | $35,409,674 | 761,008 | 0.37% | Shares |
| Invesco Ltd. | $33,749,279 | 725,323 | 0.35% | Shares |
| HSBC HOLDINGS PLC | $32,228,200 | 689,173 | 0.34% | Shares |
| CITADEL ADVISORS LLC | $31,672,971 | 680,700 | 0.33% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $30,598,221 | 657,602 | 0.32% | Shares |
| IEQ CAPITAL, LLC | $29,423,207 | 632,349 | 0.31% | Shares |
| Arbejdsmarkedets Tillaegspension | $29,230,146 | 628,200 | 0.31% | Shares |
| Creative Planning | $28,796,214 | 618,874 | 0.30% | Shares |
| ProShare Advisors LLC | $27,938,566 | 600,442 | 0.29% | Shares |
| Artisan Partners Limited Partnership | $27,415,662 | 589,204 | 0.29% | Shares |
| Fisher Asset Management, LLC | $26,741,814 | 574,722 | 0.28% | Shares |
| AMERIPRISE FINANCIAL INC | $26,552,581 | 570,615 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $24,701,605 | 530,876 | 0.26% | Shares |
| AGF MANAGEMENT LTD | $24,620,977 | 529,142 | 0.26% | Shares |
Company insiders 33 insiders · 15 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stephen A Horn JR | President & CEO | March 9, 2026 S | 822,711 | 0 | 1 | $-1,492,976 |
| Julian E Whitehurst | President and CEO | Feb. 15, 2022 D | 587,306 | 0 | 0 | $0 |
| Craig Macnab | Chief Executive Officer | Feb. 24, 2017 S | 422,333 | 0 | 0 | $0 |
| Vincent H. Chao | EVP, Chief Financial Officer | Feb. 17, 2026 A | 115,280 | 0 | 0 | $0 |
| Kevin B Habicht | EVP, Chief Financial Officer | Feb. 17, 2025 D | 379,113 | 0 | 0 | $0 |
| Gary M Ralston | President & COO | June 24, 2004 M | 601,409 | 0 | 0 | $0 |
| COMMERCIAL NET LEASE REALTY INC | EVP & Chief Operating Officer | Dec. 1, 2005 A | 91,700 | 0 | 0 | $0 |
| Jonathan Adamo | EVP Chief Portfolio Operations | March 6, 2026 S | 126,358 | 0 | 1 | $-269,940 |
| Michelle Lynn Miller | EVP,Chief Acctg & Tech Officer | Feb. 20, 2026 S | 93,817 | 0 | 1 | $-176,120 |
| Joshua Phillip Lewis | EVP, CIO | Feb. 17, 2026 A | 81,990 | 0 | 0 | $0 |
| Gina M. Steffens | EVP, General Counsel | Feb. 17, 2026 A | 89,791 | 0 | 0 | $0 |
| Christopher Paul Tessitore | EVP | Dec. 13, 2023 S | 140,539 | 0 | 0 | $0 |
| Paul Eugene Bayer | Executive Officer | March 12, 2020 S | 116,900 | 0 | 0 | $0 |
| Dennis E Tracy | EVP - CNLRS Exchange I, Inc. | Feb. 21, 2006 D | 107,360 | 0 | 0 | $0 |
| David W Cobb | EVP of CNLR Services | April 21, 2004 A | 39,249 | 0 | 0 | $0 |
| Kamau Omari Witherspoon | Director | July 31, 2026 A | 24,049 | 0 | 0 | $0 |
| Elizabeth Gulacsy | Director | July 31, 2026 A | 17,772 | 0 | 0 | $0 |
| David M Fick | Director | July 31, 2026 A | 72,680 | 0 | 0 | $0 |
| Edward J Fritsch | Director | July 31, 2026 A | 65,614 | 0 | 0 | $0 |
| Beall Pamela K.M. | Director | July 31, 2026 A | 37,370 | 0 | 0 | $0 |
| Betsy D Holden | Director | July 31, 2026 A | 36,003 | 0 | 0 | $0 |
| Steven D Cosler | Director | Jan. 30, 2026 A | 67,123 | 0 | 0 | $0 |
| Don Defosset | Director | April 29, 2022 A | 69,627 | 0 | 0 | $0 |
| Sam L Susser | Director | April 30, 2020 A | 21,774 | 0 | 0 | $0 |
| Robert C Legler | Director | Oct. 31, 2018 A | 111,312 | 0 | 0 | $0 |
| Ted B Lanier | Director | May 12, 2016 G | 64,679 | 0 | 0 | $0 |
| Robert Martinez | Director | April 29, 2016 A | 63,165 | 0 | 0 | $0 |
| Richard B Jennings | Director | Jan. 29, 2016 A | 61,299 | 0 | 0 | $0 |
| Dennis Earl Gershenson | Director | April 29, 2011 A | 22,636 | 0 | 0 | $0 |
| Clifford R Hinkle | Director | Oct. 31, 2008 A | 41,933 | 0 | 0 | $0 |
| George Nicholas Beckwith III | Director | April 30, 2007 A | 4,700 | 0 | 0 | $0 |
| James M Seneff JR | · | Dec. 29, 2004 A | 715,081 | 0 | 0 | $0 |
| Robert A Bourne | · | Aug. 13, 2004 A | 552,345 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 82 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FPRO · FIDELITY COVINGTON TRUST | 2.58% | 8,960 NS | July 31, 2026 | N-PORT |
| FDV · Federated Hermes ETF Trust | 2.19% | 405,600 NS | July 31, 2026 | N-PORT |
| HSMV · First Trust Exchange-Traded Fund III | 1.54% | 11,441 NS | July 31, 2026 | N-PORT |
| XMLV · Invesco Exchange-Traded Fund Trust … | 1.47% | 246,000 | Oct. 1, 2026 | Daily |
| PAYR · Federated Hermes ETF Trust | 1.41% | 16,945 NS | July 31, 2026 | N-PORT |
| BLDG · Cambria ETF Trust | 1.30% | 18,452 NS | July 31, 2026 | N-PORT |
| GQRE · FlexShares Trust | 1.09% | 97,240 NS | July 31, 2026 | N-PORT |
| USRT · iShares Trust | 0.72% | 723,895 SH | Sept. 11, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 0.67% | 249,822 NS | July 31, 2026 | N-PORT |
| IYR · iShares Trust | 0.63% | 586,833 SH | Sept. 11, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 0.56% | 176,934 NS | July 31, 2026 | N-PORT |
| RCGE · EA Series Trust | 0.49% | 10,287 NS | July 31, 2026 | N-PORT |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.47% | 7,241,248 SH | Aug. 19, 2026 | Daily |
| REET · iShares Trust | 0.47% | 514,978 SH | Sept. 11, 2026 | Daily |
| DFGR · Dimensional ETF Trust | 0.44% | 361,148 NS | July 31, 2026 | N-PORT |
| ERET · iShares Trust | 0.34% | 1,056 SH | Sept. 11, 2026 | Daily |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.30% | 29,803 NS | July 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.30% | 29,055 NS | July 31, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.29% | 13,927 NS | July 31, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.29% | 93,099 SH | Aug. 19, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.26% | 25,947 | Oct. 1, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.26% | 21,028 NS | July 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.24% | 307,594 SH | Aug. 19, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.24% | 32,700 NS | July 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.23% | 66,410 NS | July 31, 2026 | N-PORT |
| HDUS · Lattice Strategies Trust | 0.21% | 8,964 NS | July 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.21% | 108,958 NS | July 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.20% | 80,720 SH | Aug. 19, 2026 | Daily |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 83,457 NS | July 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.19% | 2,794 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.19% | 2,769,891 SH | Aug. 19, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.14% | 27,928 | Oct. 1, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.13% | 165,000 | Oct. 1, 2026 | Daily |
| SMMD · iShares Trust | 0.11% | 100,281 SH | Sept. 11, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.11% | 4,363,556 SH | Aug. 19, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 18,288 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.10% | 2,184,502 SH | Aug. 19, 2026 | Daily |
| ROUS · Lattice Strategies Trust | 0.09% | 13,797 NS | July 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.09% | 3,079 NS | July 31, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.09% | 6,067 NS | July 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.08% | 280,848 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.08% | 11,659 SH | Sept. 11, 2026 | Daily |
| IWR · iShares Trust | 0.06% | 774,869 SH | Sept. 11, 2026 | Daily |
| RECS · Columbia ETF Trust I | 0.04% | 54,118 NS | July 31, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.04% | 11,319 | Oct. 1, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.03% | 5,418 | Oct. 1, 2026 | Daily |
| IWD · iShares Trust | 0.02% | 419,590 SH | Sept. 11, 2026 | Daily |
| DIVB · iShares Trust | 0.02% | 10,197 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 114,055 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.02% | 42,759 SH | Aug. 19, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.02% | 38,184 | Oct. 1, 2026 | Daily |
| IUSV · iShares Trust | 0.01% | 93,351 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 6,478 NS | July 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.01% | 128,947 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 7,676 SH | Sept. 8, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 50,130 SH | Sept. 10, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 229,046 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 6,039,303 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 139,958 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.01% | 31,747 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 15,795 SH | Aug. 19, 2026 | Daily |
| IUSG · iShares Trust | 0.01% | 73,065 SH | Sept. 11, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.01% | 5,854 | Oct. 1, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | 0.00% | 1,000 | Sept. 30, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VUSB · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| IJH · iShares Trust | · | 6,675,832 SH | Sept. 11, 2026 | Daily |
| IJK · iShares Trust | · | 474,057 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 552,942 SH | Aug. 21, 2026 | Daily |
| XJH · iShares Trust | · | 25,989 SH | Sept. 8, 2026 | Daily |
| ISCB · iShares Trust | · | 8,579 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 42,175 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 85,796 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 51,500 SH | Aug. 19, 2026 | Daily |
NNN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 26 analysts
HOLD
Median target
$47.00
+14.8%
1 3.8%
Strong Buy
2 7.7%
Buy
15 57.7%
Hold
7 26.9%
Sell
1 3.8%
Strong Sell
12-Month Price Target
15 analysts · 2026-09-28Mean target $47.73 +16.6%
← Below all targets
Current price $40.95
Low$45.00
Mean$47.73
High$50.50
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NNN | $7.53B | 19.1 | 6.6% | 42.1% | 8.9% | · |
| KIM | $13.66B | 9.0 | 5.1% | 27.3% | 5.6% | · |
| REG | $12.63B | 47.3 | 6.9% | 34.0% | 7.7% | · |
| FRT | $8.70B | 21.5 | 6.4% | 32.1% | 12.8% | · |
| BRX | $8.03B | 21.0 | 6.7% | 28.2% | 12.9% | · |
| ADC | $8.65B | 40.7 | 16.4% | 28.4% | 3.5% | · |
| MAC | $4.74B | -23.7 | 10.4% | -19.4% | -7.6% | · |
| PECO | $4.47B | 40.0 | 9.9% | 15.3% | 4.8% | · |
| KRG | $5.01B | 17.5 | 0.82% | 35.4% | 9.3% | · |
| SKT | · | 35.9 | · | · | · | · |
| CURB | $2.45B | 62.7 | 51.3% | 21.8% | 2.1% | · |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Source: SEC 10-Q filed Aug 5, 2026