v3.25.4
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of ATM Program The following outlines NNN's ATM:

 

 

 

2023 ATM

 

2020 ATM

Shelf registration statement:

 

 

 

 

Effective date

 

August 2023

 

August 2020

Termination date

 

August 2026

 

August 2023

Total allowable shares

 

17,500,000

 

17,500,000

Total shares issued as of December 31, 2025

 

6,579,993

 

7,722,511

Schedule of Common Stock Issuances Pursuant to Equity Programs

The following table outlines the common stock issuances pursuant to NNN's ATM for the years ended December 31 (dollars in thousands, except per share data):

 

 

 

2025(1)

 

 

2024

 

 

2023

 

Shares of common stock

 

 

1,927,893

 

 

 

4,652,100

 

 

 

650,135

 

Average price per share (net)

 

$

42.07

 

 

$

45.49

 

 

$

43.52

 

Net proceeds

 

$

81,106

 

 

$

211,619

 

 

$

28,292

 

Stock issuance costs(2)

 

$

1,691

 

 

$

3,242

 

 

$

858

 

 

(1)

Includes 35,934 shares settled as part of a forward sale agreement. There were no outstanding forward sale agreements as of December 31, 2025.

 

(2)

 

Stock issuance costs consist primarily of underwriters' and agent's fees and commissions and legal and accounting fees.

Schedule of Common Stock Issuances Pursuant to DRIP The following outlines the common stock issuances pursuant to NNN's DRIP for the years ended December 31 (dollars in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Shares of common stock

 

 

65,062

 

 

 

64,654

 

 

 

76,229

 

Net proceeds

 

$

2,628

 

 

$

2,634

 

 

$

3,082

 

Schedule of Dividends Declared and Paid The following table outlines the dividends declared and paid for NNN's common stock for the years ended December 31 (in thousands, except per share data):

 

 

 

2025

 

 

2024

 

 

2023

 

Dividends

 

$

443,202

 

 

$

420,239

 

 

$

404,458

 

Per share

 

 

2.360

 

 

 

2.290

 

 

 

2.230