NNN REIT reported strong third-quarter results, with a core FFO of $0.85 per share and a strategic increase in acquisitions, underpinning their commitment to shareholder value and long-term growth.
- Closed 20 deals totaling 57 assets for $283 million, raising the 2025 acquisition target to $900 million, a record for the company.
- Core FFO per share increased by 1.2% year-over-year, reflecting operational efficiency and robust asset performance.
- Occupancy decreased to 97.5% due to a legal dispute with a tenant, yet management expects to exceed 98% occupancy by year-end through proactive asset resolutions.
- Annualized base rent rose to $912 million, marking over a 7% increase year-over-year, with notable rental rate renewals averaging 108% above previous rents.
- Strong balance sheet with $1.4 billion in total availability and an industry-leading average debt maturity of nearly 11 years, positioning NNN for continued growth.
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