secwatch.observer — SEC 8-K summary
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Issuer:     NNN REIT, INC. (NNN)
CIK:        0000751364
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0000950170-22-006953
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751364/000095017022006953/0000950170-22-006953-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751364/000095017022006953/nnn-20220503.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-006953

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer