v3.26.3
Stockholders' Equity - Schedule of outlines of ATM Program (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Class of Stock [Line Items]          
Total allowable shares 375,000,000   375,000,000   375,000,000
Total shares issued 193,947,411   193,947,411   189,937,404
Total remaining allowable shares 502,305 0 8,169,065 0  
ATM equity programs          
Class of Stock [Line Items]          
Total remaining allowable shares [1] 502,305 1,655,053 8,169,065 1,891,959  
2023 ATM          
Class of Stock [Line Items]          
Effective Date     August 2023    
Termination date     August 2026    
Total allowable shares 17,500,000   17,500,000    
Total shares issued 10,247,225   10,247,225    
Total remaining allowable shares     0    
Total unsettled shares subject to forward sale agreements [2] 4,501,833   4,501,833    
Anticipated net proceeds from unissued shares [3]     $ 204,046    
2026 ATM          
Class of Stock [Line Items]          
Effective Date     August 2026    
Termination date     August 2029    
Total allowable shares 25,000,000   25,000,000    
Total shares issued 0   0    
Total remaining allowable shares     25,000,000    
Total unsettled shares subject to forward sale agreements [2] 0   0    
Anticipated net proceeds from unissued shares [3]     $ 0    
[1]

Includes 502,305 and 8,169,065 shares of common stock underlying forward sale agreements entered into during the quarter and nine months ended September 30, 2026, respectively. There were no shares of common stock underlying forward sales agreements during the quarter and nine months ended September 30, 2025.

[2]

NNN may physically settle the forward sale agreements (by the delivery of shares of common stock) and receive proceeds from the sales of those shares on one or more forward settlement dates, which shall occur no later than January 2028.

[3]

Includes impact of forward price adjustments through September 30, 2026. Subject to certain conditions, NNN has the right to elect cash or net share settlement rather than physical settlement of the forward sale agreements, which, if elected, could result in cash outflows rather than share issuances. NNN currently intends to physically settle its forward sale agreements.