NNN REIT (STU:CZ2) Dividend Payout Ratio: 1.21 (As of Mar. 2026) — Near Median


STU:CZ2 NNN REIT Inc STU:CZ2
77 GF Score
Price €40.94
GF Value €39.45
Valuation Fairly Valued
! 8 Warning Signs
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What is NNN REIT Dividend Payout Ratio?

NNN REIT STU:CZ2 +0.39% 77 Dividend Payout Ratio is 1.21 as of Mar. 2026, which is 5% below its 10-year median of 1.27. GuruFocus rates STU:CZ2 with a GF Score™ of 77/100 and a GF Value™ of €39.45 (Fairly Valued). The stock has 8 warning signs investors should review. Among 714 REITs companies, NNN REIT ranks worse than 65.97% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. NNN REIT's Dividend Payout Ratio for the months ended in Mar. 2026 was 1.21.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of NNN REIT Inc is 1.21, which seems too high.

The historical rank and industry rank for NNN REIT's Dividend Payout Ratio or its related term are showing as below:

STU:CZ2' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 1.13   Med: 1.27   Max: 1.49
Current: 1.21

During the past 13 years, the highest Dividend Payout Ratio of NNN REIT was 1.49. The lowest was 1.13. And the median was 1.27.

STU:CZ2's Dividend Payout Ratio is ranked worse than
65.97% of 714 companies
in the REITs industry
Industry Median: 0.99 vs STU:CZ2: 1.21

As of today (2026-07-02), the Dividend Yield % of NNN REIT is 5.03%.

During the past 13 years, the highest Trailing Annual Dividend Yield of NNN REIT was 7.73%. The lowest was 3.27%. And the median was 4.77%.

NNN REIT's Dividends per Share for the months ended in Mar. 2026 was €0.52.

During the past 12 months, NNN REIT's average Dividends Per Share Growth Rate was 3.30% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 3.00% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 2.70% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 3.10% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of NNN REIT was 4.50% per year. The lowest was -7.20% per year. And the median was 2.40% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

NNN REIT (STU:CZ2) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

NNN REIT Dividend Payout Ratio Related Terms

NNN REIT Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for NNN REIT's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NNN REIT Dividend Payout Ratio Chart

NNN REIT Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.32 1.17 1.13 1.15 1.19

NNN REIT Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.16 1.18 1.22 1.21 1.21

STU:CZ2 vs ADC, BRX, MAC: Dividend Payout Ratio Comparison

For the REIT - Retail subindustry, NNN REIT's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

NNN REIT Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, NNN REIT's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where NNN REIT's Dividend Payout Ratio falls into.


STU:CZ2
77GF Score
NNN REIT Inc STU:CZ2
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NNN REIT Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

NNN REIT's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2025 )/ EPS without NRI (A: Dec. 2025 )
=2.015/ 1.697
=1.19

NNN REIT's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=0.519/ 0.428
=1.21

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 1.21 mean?
NNN REIT (STU:CZ2) has a Dividend Payout Ratio of 1.21 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on NNN REIT and its competitors. This is near median its historical median of 1.27. Over the past decade, NNN REIT's Dividend Payout Ratio has ranged from 1.13 to 1.49. According to the industry distribution chart, NNN REIT ranks #471 out of 714 companies in the REITs industry, placing it in the top 66%.
Is NNN REIT's Dividend Payout Ratio too high?
NNN REIT's current Dividend Payout Ratio of 1.21 is near median its 10-year median of 1.27. Over the past 10 years, this metric has ranged from a low of 1.13 to a high of 1.49. The REITs industry median Dividend Payout Ratio is 0.99. NNN REIT's value of 1.21 is 22.2% above this industry median. Based on the distribution chart, NNN REIT ranks #471 out of 714 companies in the REITs industry, which is below the industry midpoint. Overall, NNN REIT has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NNN REIT's Dividend Payout Ratio compare to ADC and BRX?
According to the REITs industry distribution chart, NNN REIT ranks #471 out of 714 companies for Dividend Payout Ratio. This places NNN REIT in the lower half of its industry. The industry median Dividend Payout Ratio is 0.99. NNN REIT's value of 1.21 is 22.2% above this benchmark. Historically, NNN REIT's own Dividend Payout Ratio has ranged from 1.13 to 1.49 over the past decade. While the company's 10-year median is 1.27 vs. the industry median of 0.99, NNN REIT has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for a REITs company?
The median Dividend Payout Ratio among REITs companies is 0.99, based on 714 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NNN REIT's current Dividend Payout Ratio of 1.21 is 22.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on NNN REIT and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NNN REIT's current Dividend Payout Ratio is 1.21, which is near median its own 10-year median of 1.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NNN REIT stock overvalued right now?
Based on GuruFocus' analysis, NNN REIT (STU:CZ2) is currently considered Fairly Valued. The stock's GF Value™ is €39.45, compared to a current price of €40.94 — trading 3.8% above its estimated fair value. The current Dividend Payout Ratio is 1.21, which is near median its 10-year median of 1.27 and 22.2% above the REITs industry median of 0.99. NNN REIT's overall GF Score™ is 77/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For NNN REIT (STU:CZ2), the current Dividend Payout Ratio is 1.21 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is NNN REIT (STU:CZ2) Overvalued in 2026?

Based on GuruFocus' analysis, NNN REIT stock appears to be overvalued. The current stock price of €40.94 is trading 3.8% above its estimated GF Value™ of €39.45. GuruFocus considers NNN REIT to be Fairly Valued.

Key valuation signals for STU:CZ2:

  • Dividend Payout Ratio: 1.21 (near median its 10-year median of 1.27)
  • GF Value™: €39.45 vs. price of €40.94 (3.8% above fair value)
  • GF Score™: 77/100 with 8 warning signs
  • Industry Position: 22.2% above the REITs median (#471 of 714)

No single metric tells the full story. See the STU:CZ2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

NNN REIT Business Description

Industry Real EstateREITs
Address 450 South Orange Avenue, Suite 900, Orlando, FL, USA, 32801
NNN REIT Inc is a real estate investment trust that acquires, owns, invests in, and develops high-quality properties mainly leased under long-term net leases with minimal capital expenditure requirements. The company focuses mainly on retail properties, with a portfolio including convenience stores, automotive service properties, restaurants, theatres, entertainment venues, dealerships, and other retail-related assets. Primary business objectives emphasize retail properties, and it may invest in a wide variety of property and tenant types, leases, mortgages, loans secured by personal property, loans secured by partnership or membership interests, and securities of other REITs or other issuers.
77GF Score

Get the complete analysis for STU:CZ2

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€40.94
Price
€39.45
GF Value