Increased Dividend
NNN REIT announced a 3.4% increase in its common stock dividend, marking the 36th consecutive year of annual dividend increases. This milestone places the company among less than 80 U.S. public companies and only 2 other REITs with such a track record.
Successful Bond Offering
The company completed a $500 million 5-year unsecured bond offering with a 4.6% coupon, strengthening its position to execute its strategy.
Raised Guidance
NNN increased its 2025 guidance for core FFO per share to range between $3.34 and $3.39, reflecting strong performance and growth strategy execution.
Strong Leasing Performance
Renewed 17 out of 20 leases, achieving rental rates 108% above prior rent. Additionally, leased 7 properties to new tenants at rates 105% above prior rents.
Robust Acquisition Activity
Invested over $230 million in 45 new properties with an initial cap rate of 7.4% and an average lease term of more than 17 years. Raised full-year acquisition volume midpoint to $650 million.
Solid Financial Position
Balance sheet remains strong with an average debt maturity of over 11 years and nearly $1.5 billion in available liquidity.