NNN REIT Q3 revenue beats estimates, raises 2025 guidance

NNN REIT

04/11/2025 13:37

Overview

NNN REIT 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 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 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/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$230.15 mln
$226.87 mln (11 Analysts)
Q3 EPS
$0.51
Q3 Net Income
$96.83 mln
Q3 Adjusted FFO Per Share
$0.86
Q3 Income From Operations
$147.27 mln


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 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: ID:nPn3hvMQda

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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.)