NYSE: NNN · Retail REITs
NNN REIT (NNN) fair value: undervalued or overvalued?
As of 31 Oct 2026, Faircurve's model values NNN REIT (NNN) at $44.70 a share. The stock last closed at $41.69, which puts the model's fair value 7.2% above the price. On the model's bands that reads as Fairly valued.
Revalued . Price is the close of 3 Nov 2026. NNN REIT, Inc.
The report adds the live price, the price chart and the next earnings date. No account needed.
This week, in three parts
What happenedThe run of 31 Oct 2026 moved the fair value from $44.13 to $44.70 (+1.3%). The model does not yet explain moves on this valuation method.
What the model makes of itThe price of $41.69 is 7.2% below it: Fairly valued, on a high evidence grade.
What's nextNext report on 10 Feb 2027. The next weekly run is on Saturday 7 Nov 2026.
What price range does the model give NNN?
The calibrated range for NNN over 63 trading days is $36.21 to $53.39. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 10,454 past valuations, refreshed 31 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own range is $40.98 to $48.65.
Faircurve Insights · 31 Oct 2026
NNN REIT, Inc. is a REIT that invests in high-quality properties subjected generally to long-term, net leases with minimal ongoing capital expenditures.
Faircurve's model gives NNN REIT a fair value of $44.70 a share on 31 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The previous run, on 24 Oct 2026, gave $44.13, so the fair value moved +1.3%. The model does not yet explain moves on this valuation method. The calibrated range over 63 trading days is $36.21 to $53.39, built from the fair value, since there is no live options data for the stock. The range is calibrated weekly against realised prices, using 10,454 past valuations. Ranges built this way held the price 60% of the time at this horizon. The model grades the evidence High. For REITs, the grade looks at the dividend record: at least three years of paid dividends with no cut. It does not say whether the fair value is right.
The sheet gives no quality scores for the business, so this note cannot report how it ranks on quality against its peers. The model compares NNN REIT with seven companies, each with a fair value of its own on the site: Agree Realty Corporation (ADC), Brixmor Property Group Inc. (BRX), Federal Realty Investment Trust (FRT), Kite Realty Group Trust (KRG), Phillips Edison & Co. (PECO), Regency Centers Corporation (REG) and Tanger Inc. (SKT). The Macerich Company (MAC) is also a comparable company, but it has no verdict on this date.
Written from the figures on this page for the 31 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
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When does NNN report earnings, and how has the stock reacted?
NNN REIT's next earnings report is scheduled for 10 Feb 2027. Companies can move their dates.
Around its last 8 reports: what the options market priced, and what followed
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across NNN's last 8 reports, ignoring direction, was 1.8%.
How does NNN compare with similar companies?
The companies in retail reits closest to NNN REIT in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| ADC Agree Realty Corporation | $68.86 | $53.82 | -21.8% | Overvalued |
| MAC The Macerich Company | $24.74 | $8.42 | -66.0% | Gap wider than 60% |
| BRX Brixmor Property Group Inc. | $29.41 | $31.80 | +8.1% | Fairly valued |
| FRT Federal Realty Investment Trust | $111.64 | $100.58 | -9.9% | Overvalued |
| KRG Kite Realty Group Trust | $25.42 | $36.37 | +43.1% | Undervalued |
| PECO Phillips Edison & Co. | $39.58 | $34.50 | -12.8% | Overvalued |
| REG Regency Centers Corporation | $75.17 | $55.99 | -25.5% | Overvalued |
| SKT Tanger Inc. | $37.61 | $32.17 | -14.5% | Overvalued |
NNN REIT at a glance
NNN REIT, Inc. is a REIT that invests in high-quality properties subjected generally to long-term, net leases with minimal ongoing capital expenditures.
- Market value
- $7.8B
- Sector
- Real Estate
- Industry
- Retail REITs
- Beta to the US market
- -0.24
- First valued by Faircurve
- 11 Jul 2026
At the close of 3 Nov 2026, 52.1% of the 1,081 graded US stocks the model covers traded below the model's fair value. NNN was among them.
How the fair value is worked out: the model values NNN REIT three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 24 Oct 2026 the model's fair value for NNN was $44.13. As of 31 Oct 2026 it is $44.70, a change of +1.3%. The model does not yet explain moves on this valuation method. The model revalues every stock it covers each week, and again after an earnings report.
Questions about NNN REIT's valuation
Is NNN REIT stock undervalued or overvalued?
On Faircurve's model, NNN reads as Fairly valued as of 31 Oct 2026. The model's fair value is $44.70 a share against a last close of $41.69, a gap of +7.2%.
What is NNN's fair value?
$44.70 a share as of 31 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $40.98 to $48.65.
What price range does the model give NNN?
$36.21 to $53.39 over 63 trading days. Ranges built this way held the price 60% of the time across 10,454 past valuations, refreshed 31 Oct 2026.
When does NNN REIT report earnings next?
The next report is scheduled for 10 Feb 2027. Companies can move their dates.
How much has NNN moved on past earnings reports?
Across its last 8 reports the median two session move was 1.8%, ignoring direction. The largest was -5.6% around the report of 31 Oct 2024.
How confident is the model in this valuation?
The model's evidence grade for NNN is high. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.
The model's own ideas on NNN
The model holds no idea open on NNN today. Signed-in readers see the rule each idea runs on, the floor and the exit level the model set and its time limit, and the model's closed ideas on NNN with their outcomes. A free account is enough.