---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-006953"
form_type: "8-K"
ticker: "NNN"
cik: "0000751364"
company_name: "NNN REIT, INC."
filed_at: "2022-05-03T23:59:59+00:00"
generated_at: "2026-06-26T01:43:21.761486+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# National Retail Properties Q1 Core FFO $0.77 beats; raises 2022 guidance to $3.01-$3.08

## Summary
- Q1 Core FFO $0.77 per share (up from $0.69 YoY); AFFO $0.79 per share (up from $0.76).
- Revenues $190.3M, net earnings $81.4M ($0.46 EPS) vs $52.1M ($0.30) in prior year.
- Occupancy 99.2% (10.6-year avg lease term); invested $210.8M in 59 properties at 6.2% initial yield.
- Raised 2022 Core FFO guidance to $3.01-$3.08 per share (from $2.93-$3.00); AFFO forecast $3.08-$3.15.
- Balance sheet: $53.7M cash, zero drawn on $1.1B revolver, 100% fixed-rate debt with 14.5-year avg maturity.

## SEC filing metadata
- accession: 0000950170-22-006953
- form_type: 8-K
- ticker: NNN
- cik: 0000751364
- company_name: NNN REIT, INC.
- filed_at: 2022-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/751364/000095017022006953/0000950170-22-006953-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751364/000095017022006953/nnn-20220503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-006953
- JSON: https://secwatch.observer/filing/0000950170-22-006953.json
- Plain text: https://secwatch.observer/filing/0000950170-22-006953.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.