---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-016443"
form_type: "8-K"
ticker: "NNN"
cik: "0000751364"
company_name: "NNN REIT, INC."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:12:18.101819+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NNN REIT Q1 FFO $0.80/share (+6.7% YoY), occupancy 99.4%

## Summary
- Revenue $204.1M, net earnings $90.2M ($0.50 EPS), vs $190.3M and $81.4M ($0.46) in Q1 2022.
- Core FFO $0.80/share (+3.9% YoY); AFFO $0.82/share (+3.8% YoY).
- Occupancy 99.4%; weighted avg lease term 10.3 years at March 31, 2023.
- Acquired 43 properties for $156.2M at 7.0% initial cap rate; sold 6 properties for $11.9M.
- Raised $16.9M net from share issuance; unsecured debt weighted avg maturity 12.9 years.

## SEC filing metadata
- accession: 0000950170-23-016443
- form_type: 8-K
- ticker: NNN
- cik: 0000751364
- company_name: NNN REIT, INC.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/751364/000095017023016443/0000950170-23-016443-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751364/000095017023016443/nnn-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-016443
- JSON: https://secwatch.observer/filing/0000950170-23-016443.json
- Plain text: https://secwatch.observer/filing/0000950170-23-016443.txt

## Key facts
- Earnings Releases
  NNN REIT, INC. reported the quarter ended March 31, 2023 results: revenue $ 204,108, net income $ 90,167, EPS $ 0.50.
  - Period: the quarter ended March 31, 2023
  - Revenue: $ 204,108
  - Net income: $ 90,167
  - EPS: $ 0.50
  - Result: reported results
  source text: FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts: Quarter Ended March 31, 2023 2022 (dollars in thousands, except per share data) Revenues $ 204,108 $ 190,279 Net earnings available to common stockholders $ 90,167 $ 81,372 Net earnings per common share $ 0.50 $ 0.46 FFO available to common stockholders $ 145,549 $ 131,593 FFO
  evidence_url: https://www.sec.gov/Archives/edgar/data/751364/000095017023016443/0000950170-23-016443-index.htm

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