NNN REIT Q3 Profit Down

(RTTNews) - NNN REIT, Inc. (NNN), a real estate investment trust, Thursday reported third-quarter net income of $97.9 million or $0.53 per share, compared to $106.8 million or $0.59 per share.

Funds from operations for the quarter were $154.2 million or $0.84 per share, compared to $147.2 million or $0.81 per share last year.

Core funds from operations for the quarter were $154.3 million or $0.84 per share, compared to $147.4 million or $0.81 per share last year.

Adjusted funds from operations for the quarter were $155.7 million or $0.84 per share, compared to $148.3 million or $0.82 per share last year.

The company narrowed its Core FFO per share guidance for 2024 to a range of $3.28 to $3.32 per share from a range of $3.27 to $3.33 per share. The 2024 AFFO is estimated to be $3.31 to $3.35 per share.