NNN REIT Q2 Core FFO $0.84, ups dividend 3.4%, raises 2025 guidance

NNN REIT, INC.

2025-Q2 EPS reported $1.05 vs consensus $0.49 ▲ beat (+113.8%)

Net earnings $0.54/diluted share; Core FFO $0.84, AFFO $0.85 (up 1.2% YoY).
Acquired $232.5M in Q2 (7.4% cap rate); H1 total $464.9M, 85% of initial plan midpoint.
Post-quarter issued $500M 4.600% notes due 2031; pro forma liquidity $1.4B, no floating-rate debt.
Quarterly dividend raised 3.4% to $0.60/share (36th consecutive annual increase).
2025 Core FFO guidance raised to $3.34-$3.39; acquisition guidance raised to $600-700M.

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