NNN REIT Q2 FFO per share up 3.8% YoY; raises 2024 Core FFO guidance; dividend increased 3%

NNN REIT, INC.

2024-Q2 EPS reported $1.10 revenue$432,220,000

Q2 FFO per share $0.83 vs $0.80 (+3.8%); AFFO per share $0.84 (+5.0% YoY).
Revenues $216.8M, net earnings $106.7M ($0.58 EPS) vs $98.7M in prior year.
Occupancy 99.3%, acquired 16 properties for $110.5M at 7.9% cash cap rate.
2024 Core FFO guidance raised to $3.27-$3.33 from $3.25-$3.31 per share.
Dividend increased to $0.58/share in July; 35th consecutive annual increase.

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