NNN REIT Q2 FFO Rises

(RTTNews) - NNN REIT, Inc. (NNN) reported that its second quarter FFO increased to $152.38 million or $0.83 per share from $144.59 million or $0.80 per share, last year. AFFO per share increased to $0.84 from $0.80. Net earnings was $106.67 million or $0.58 per share compared to $98.70 million or $0.54 per share, last year.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.49, for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $216.81 million from $202.64 million, last year. Analysts on average had estimated $212.7 million in revenue.

The company's core FFO guidance for 2024 was increased from a range of $3.25 to $3.31 per share to a range of $3.27 to $3.33 per share. The 2024 AFFO is expected to be $3.31 to $3.37 per share.

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