NNN REIT Q2 FFO/share up 3.9% YoY; raises 2023 Core FFO guidance to $3.17-$3.22

NNN REIT, INC.

2023-Q2 EPS reported $1.04 revenue$406,748,000

Q2 Core FFO per share $0.80 vs $0.79 prior year (+1.3%); AFFO per share $0.80.
Revenue $202.6M, net earnings $98.7M ($0.54 diluted EPS).
Invested $181.3M in 36 properties at 7.2% initial cash cap rate; portfolio occupancy 99.4%.
Raised 2023 Core FFO guidance from $3.14-$3.20 to $3.17-$3.22 per share.
Sold 7 properties for $28.2M with $13.9M gains at 5.1% cap rate.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NNN REIT, INC. reported the quarter and six months ended June 30, 2023 results: revenue $ 202,640, net income $ 98,704, EPS $ 0.54. Guidance raised.

Period: the quarter and six months ended June 30, 2023
Revenue: $ 202,640
Net income: $ 98,704
EPS: $ 0.54
Guidance: raised
Result: reported results

Exact text from the filing

common stockholders and diluted per share amounts: Quarter Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (dollars in thousands, except per share data) Revenues $ 202,640 $ 190,783 $ 406,748 $ 381,062 Net earnings available to common stockholders $ 98,704 $ 74,171 $ 188,871 $ 155,543 Net earnings per common share $ 0.54 $ 0.42 $ 1.04 $ 0.89 FFO

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Source: SEC EDGAR

accession 0000950170-23-036794

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