---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-263635"
form_type: "8-K"
ticker: "NNN"
cik: "0000751364"
company_name: "NNN REIT, INC."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:46:16.072964+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NNN REIT posts Q3 2025 Core FFO $0.85, AFFO $0.86; raises full-year guidance

## Summary
- Net earnings $0.51 per diluted share, down from $0.53 in Q3 2024.
- Core FFO per share $0.85 (+1.2% YoY); AFFO per share $0.86 (+2.4% YoY).
- Acquired $283M in Q3 at 7.3% cap rate; YTD volume $748M exceeds prior high-end guidance.
- Raises 2025 Core FFO guidance to $3.36-$3.40 and AFFO to $3.41-$3.45.
- Quarterly dividend $0.60 (+3.4% YoY); balance sheet 5.6x net debt/EBITDA with $1.4B liquidity.

## SEC filing metadata
- accession: 0001193125-25-263635
- form_type: 8-K
- ticker: NNN
- cik: 0000751364
- company_name: NNN REIT, INC.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/751364/000119312525263635/0001193125-25-263635-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751364/000119312525263635/nnn-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-263635
- JSON: https://secwatch.observer/filing/0001193125-25-263635.json
- Plain text: https://secwatch.observer/filing/0001193125-25-263635.txt

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