---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-036794"
form_type: "8-K"
ticker: "NNN"
cik: "0000751364"
company_name: "NNN REIT, INC."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T15:33:08.323475+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-036794
- form_type: 8-K
- ticker: NNN
- cik: 0000751364
- company_name: NNN REIT, INC.
- filed_at: 2023-08-02T23:59:59+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/751364/000095017023036794/0000950170-23-036794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751364/000095017023036794/nnn-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-036794
- JSON: https://secwatch.observer/filing/0000950170-23-036794.json
- Plain text: https://secwatch.observer/filing/0000950170-23-036794.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/751364/000095017023036794/0000950170-23-036794-index.htm

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