Overview

* NNN REIT ( NNN ) Q3 revenue beats analyst expectations, reflecting strong operational performance

* Core FFO and AFFO per share grew 1.2% and 2.4% yr/yr, respectively

* Company raised 2025 acquisition and disposition volume guidance

Outlook

* NNN REIT ( NNN ) raises 2025 Core FFO guidance to $3.36-$3.40 per share

* Company increases 2025 AFFO guidance to $3.41-$3.45 per share

* NNN REIT ( NNN ) boosts 2025 acquisition guidance to $850-$950 mln

Result Drivers

* HIGH ACQUISITION VOLUME - NNN invested over $280 mln in real estate, achieving its highest quarterly acquisition volume since 2018, per CEO Steve Horn

* INCREASED ANNUAL BASE RENT - Co increased annual base rent by 7.2% over prior-year results

* STRONG LIQUIDITY - Supported by $1.4 bln in liquidity and a sector-leading balance sheet, allowing for raised earnings guidance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $230.15 $226.87

Revenue mln mln (11

Analysts

)

Q3 EPS $0.51

Q3 Net $96.83

Income mln

Q3 $0.86

Adjusted

FFO Per

Share

Q3 $147.27

Income mln

From

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 13 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy."

* Wall Street's median 12-month price target for NNN REIT Inc ( NNN ) is $45.00, about 9.1% above its November 3 closing price of $40.89

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)