About Nova Net Lease REIT (NNLRF) — Dividend Analysis 2026
The REIT was formed to acquire specialized industrial and retail properties leased to experienced, top-tier, creditworthy state-licensed operators for their Regulated Cannabis facilities ("Licensed Facilities") in the United States. The REIT intends to acquire properties through sale-leaseback transactions and lease such properties on a triple net lease basis for a targeted 10 to 15 year term and strives to negotiate annual rental rate increases in the leases. The REIT's portfolio will consist of only Licensed Facilities in the United States with a targeted mix of 80% cultivation/grow/processing facilities and 20% retail/dispensary. The REIT is internally managed by a vertically integrated team of seasoned real estate and cannabis professionals with expertise across the spectrum of real estate investment management, including: acquisitions, underwriting, financing, asset management, property management, operations, development and redevelopment, accounting and regulatory affairs.
Is NNLRF a good dividend investment in 2026?
NNLRF offers a 476.19% forward yield with a 50% payout ratio. Strand Safety Score: 45/100 (Moderate Risk). The 5-year dividend CAGR of 0% is modest — investors should weigh current income against growth alternatives.
NNLRF DRIP calculator — what's the difference?
With DRIP on a $10,000 investment over 10 years, your NNLRF portfolio grows to $403330.21M vs $486.2K without reinvestment. This is the compound interest effect in action.
NNLRF dividend growth history & forecast
NNLRF has grown its dividend by 0% over the last year and 0% annually over 5 years. At this pace, an investor who holds for 10+ years will see their yield on cost grow substantially above the current 476.19%.
Company generates negative FCF ($-391,438) — borrowing to pay dividends
Debt Leverage0.0× Debt/EBITDA
30 / 30 pts
30/30
Debt/EBITDA 0.0× — low leverage, balance sheet is strong
Earnings Momentum+0.0B → +0.0B → -0.0B
15 / 30 pts
15/30
Net income grew in the latest year — positive but trend is unconfirmed
OVERALL ASSESSMENT
Dividend at moderate risk — monitor coverage and debt closely.
STRAND SCORE
45
/100
Strand Safety Score™ is proprietary to DividendFlow. Inputs: FCF, Debt/EBITDA, Net Income from SEC filings via FMP. Not financial advice. N/A for ETFs, pre-revenue companies, and tickers without income statements.
🌍 NNLRF Yield by Country & Account Type
Real after-tax yield depends on where you live and how you hold NNLRF.
Gross yield
476.19%
Tax rate
15.00%
After-tax yield
404.76%
Real yield (−CPI)
401.96%
Account/Country
Tax Rate
After-tax Yield
Real Yield
$10K Annual Income
🇺🇸 Roth IRA / 401k
0%
476.19%
473.39%
$47,619 / yr
🇺🇸 US Taxable (15%) ✓
15%
404.76%
401.96%
$40,476 / yr
🇺🇸 US Taxable (20%)
20%
380.95%
378.15%
$38,095 / yr
🇬🇧 UK ISA
0%
476.19%
473.39%
$47,619 / yr
🇬🇧 UK Taxable
8.75%
434.52%
431.72%
$43,452 / yr
🇨🇦 TFSA
0%
476.19%
473.39%
$47,619 / yr
🇨🇦 CA Taxable
25%
357.14%
354.34%
$35,714 / yr
🇦🇺 Super (pension)
15%
404.76%
401.96%
$40,476 / yr
🇦🇺 AU Taxable
30%
333.33%
330.53%
$33,333 / yr
🇩🇪 DE Taxable
26.375%
350.59%
347.79%
$35,059 / yr
🇫🇷 FR Taxable
30%
333.33%
330.53%
$33,333 / yr
Real yield = after-tax yield minus US CPI of 2.8%. 12-month CPI (US BLS via FMP economic-indicators). Click any row to select. US withholding tax (30%, reducible by treaty) applies to non-US residents holding US stocks in taxable accounts.
🎯 NNLRF Income Goal & Break-Even
Dividend Break-Even
1yr
Years for dividends to fully repay your NNLRF investment of $0.42/share (🇺🇸 US Taxable (15%) · 15.00% tax)
$10K invested · 10 Years
Dividends earned (DRIP)
$107365.73M
Lost to inflation (2.8% CPI)
−$2.5K
Real purchasing power gain
$107365.72M
12-month CPI (US BLS via FMP economic-indicators).
How much do I need to invest in NNLRF for:
Shares needed
14,118
Capital required
$5,930
Monthly income
$2,000
Based on current dividend of $2.00/share/yr · 🇺🇸 US Taxable (15%) · static projection (no growth assumed).
📅 NNLRF Dividend Payment Schedule
NNLRF pays quarterly — 4 times per year. Next ex-div: TBD.
Jan
Feb
Mar
💰
Apr
May
Jun
💰
Jul
Aug
Sep
💰
Oct
Nov
Dec
💰
10 shares
$4.25 / payment
$17.00 / year after tax
100 shares
$42.50 / payment
$170.00 / year after tax
1,000 shares
$425.00 / payment
$1700.00 / year after tax
📊 NNLRF vs Real Estate Benchmarks
How NNLRF compares to typical Real Estate averages.
Benchmark: Real Estate
Dividend Yield▲+470.99% vs sectorBetter
NNLRF
476.19%
avg
5.20%
5Y Dividend CAGR▼-4.10% vs sectorBelow avg
NNLRF
0.00%
avg
4.10%
Payout Ratio▲-28.00% vs sectorBetter
NNLRF
50.00%
avg
78.00%
Benchmarks: S&P 500 sector averages (2024–2026). Sources: Morningstar, Bloomberg, NAREIT. 5Y CAGR for NNLRF sourced from FMP /financial-growth endpoint — real data, not estimates.
🏛️ NNLRF Insider Activity
No recent SEC filings reported in the last 90 days.
🔬
Financial Health Scores
Altman Z-Score
1.19
🔴 Distress Zone — elevated dividend cut risk
Safe: >3.0 · Grey: 1.81–3.0 · Distress: <1.81
Piotroski F-Score
2/9
🔴 Weak fundamentals — dividend safety concern
Strong: 7–9 · Moderate: 4–6 · Weak: 0–3
Altman Z-Score predicts bankruptcy risk. Piotroski F-Score measures financial strength across 9 criteria. High scores → lower dividend cut risk. Data via FMP financial statements.
📊 About This Data
Dividend yields, payout ratios, and financial metrics are sourced from Financial Modeling Prep (FMP) and cross-referenced with SEC EDGAR filings. Data is cached and updated every 24 hours via our nightly refresh. DRIP projections are forward-looking estimates, not guarantees.
Educational purposes only. Not financial advice. DividendFlow is not a registered investment advisor. Projections generated by the NNLRF dividend calculator are estimates based on historical data and user inputs. Actual future returns, stock prices, and dividend payments will vary. Dividends can be cut or suspended at any time. All investments carry risk, including the loss of principal. Please consult a qualified financial professional before making any investment decisions. Full disclaimer →