NNN REIT Q1 net earnings $0.51 per share; Core FFO up 3.6% to $0.86

NNN REIT, INC.

2025-Q1 EPS reported $0.51 revenue$230,854,000

Net earnings $96.5M ($0.51/diluted share) vs $94.4M ($0.52) a year ago.
Core FFO per share $0.86, AFFO per share $0.87, each up 3.6% YoY.
Closed $232.4M in investments at 7.4% cap rate, 40% of 2025 plan midpoint.
Occupancy 97.7% (near 20-yr avg 98.2%); eviction of 64 restaurant properties completed.
Maintains 2025 guidance: Core FFO $3.33-$3.38, AFFO $3.39-$3.44 per share.

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