NNN REIT Inc

NNN

Equity

ISIN US6374171063 / Valor 2545029

New York Stock Exchange, Inc (2024-12-26)

USD 40.73+0.05%

NNN REIT Inc
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About company

NNN REIT, Inc., listed on the New York Stock Exchange under the ticker symbol NNN, is a real estate investment trust (REIT) that specializes in acquiring, owning, and managing single-tenant properties.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

In the third quarter of 2024, NNN REIT Inc. reported revenues of $218.6 million, marking an increase from $205.1 million in the same quarter of the previous year. This growth reflects the company's continued expansion and successful property investments.

Funds From Operations

For the third quarter of 2024, NNN REIT Inc. achieved Funds From Operations (FFO) of $154.2 million, or $0.84 per share, representing a 3.7% increase compared to the prior year's results. This improvement underscores the company's strong operational performance and strategic asset management.

Occupancy and Lease Term

As of September 30, 2024, NNN REIT Inc. maintained a high occupancy rate of 99.3%, with a weighted average remaining lease term of 10.0 years. This stability highlights the company's ability to secure long-term leases and maintain tenant satisfaction across its portfolio.

Property Investments and Sales

During the third quarter of 2024, NNN REIT Inc. invested $113.6 million in property acquisitions, adding eight properties with a total gross leasable area of approximately 626,000 square feet. Additionally, the company sold nine properties for $20.0 million, generating $7.8 million in gains from these sales.

Financial Outlook

NNN REIT Inc. has narrowed its Core FFO per share guidance for 2024 to a range of $3.28 to $3.32, with an estimated AFFO of $3.31 to $3.35 per share. This guidance reflects the company's confidence in its financial strategy and ability to deliver consistent shareholder value.

Summarized from source with an LLMView Source

Key figures

-5.28%1Y

-12.1%3Y

-22.7%5Y

Performance

18.1%1Y

20.2%3Y

35.6%5Y

Volatility