NNN REIT, Inc. (NYSE: NNN) operates as a real estate investment trust that acquires, owns, invests in, and develops single-tenant retail properties primarily leased under long-term net leases to tenants in diverse industries including convenience stores, restaurants, automotive services, entertainment centers, health and fitness facilities, theaters, and equipment rental operations; its portfolio comprises 3,697 properties across 50 states with approximately 400 tenants in 37 lines of trade, featuring top tenants such as 7-Eleven, Mister Car Wash, Dave & Buster's, Camping World, and GPM Investments, achieving 97.5% occupancy as of late 2025. The company, founded in 1984 and headquartered in Orlando, Florida, focuses on high-quality, freestanding retail assets subject to triple-net leases where tenants bear property taxes, insurance, and maintenance, generating stable cash flows with minimal capital expenditures for the REIT. In recent developments, NNN REIT closed $283 million in acquisitions during the third quarter of 2025 at a 7.3% initial cash cap rate and 17.8-year weighted average lease term, raised its full-year 2025 Core FFO guidance to $3.36-$3.40 per share, increased its annual dividend for the 36th consecutive year, and changed its name to NNN REIT, Inc. in 2023 to better reflect its identity; it targets $850 million to $950 million in acquisitions for 2025 following over $560 million deployed in 2024.