Education
About Us
Working with TipRanks
Follow Us
National Retail Properties (NNN)
NYSE:NNN
RESEARCH TOOLSreports
Earnings Data
Report Date
Jul 30, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.49Last Year’s EPS
0.58Same Quarter Last Year
Based on 11 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:May 01, 2025
|% Change Since: 2.16%
|Next Earnings Date:Jul 30, 2025
Earnings Call Sentiment|Neutral
The earnings call indicated a strong performance in terms of occupancy, acquisitions, and financial metrics, supported by a robust balance sheet. However, challenges with tenant defaults and vacancy resolution, along with expected cap rate compression, present areas of concern.Company Guidance
During the NNN REIT Inc. First Quarter 2025 Earnings Call, CEO Steve Horn discussed the company's progress in resolving vacancies in their furniture and restaurant assets, with 15 of 35 furniture stores resolved and significant interest in the rest. For restaurant assets, 38 have been leased or sold. The expected impact of tenant defaults is anticipated to be only $0.15 to $0.25 on the stabilized core FFO per share for the year, representing less than 1%. The portfolio includes 3,641 properties with a 97.7% occupancy rate, slightly below the long-term average due to recent evictions. In the first quarter, NNN acquired 82 properties for approximately $232 million, with an initial cap rate of 7.4% and an average lease term of over 18 years. The company executed strategic dispositions generating $16 million in proceeds. The balance sheet remains strong with $1.1 billion availability on a $1.2 billion line of credit. NNN maintains its 2025 acquisition guidance of $500 million to $600 million and reported a core FFO of $0.86 and AFFO of $0.87 per share for the quarter, each up 3.6% year-over-year. The annualized base rent increased by over 5% year-over-year. NNN's first-quarter NOI margin was 95.9%, with G&A expenses at 5.6% of total revenues. The company declared a $0.58 quarterly dividend, representing a 5.4% annualized yield at a 66% AFFO payout ratio.Strong Occupancy and Portfolio Performance
The portfolio of 3,641 properties maintained a high occupancy rate of 97.7%, with minimal credit losses. The stability was highlighted by resilience during the GFC and the pandemic.
Successful Acquisitions and Strategic Dispositions
NNN acquired 82 new properties for $232 million at a cap rate of 7.4% and sold 10 properties for $16 million in line with their full-year guidance.
Robust Financial Position
NNN has a strong balance sheet with $1.1 billion availability on its credit line and a conservative debt maturity profile, supporting acquisition guidance of $500 million to $600 million.
Positive Financial Metrics
Reported core FFO of $0.86 per share and AFFO of $0.87 per share, each up 3.6% over the prior year period, with annualized base rent up over 5% year-over-year.
Lease Termination Fees and Strong Lease Renewals
Collected $8.2 million in lease termination fees and completed 25 renewals and 8 new leases with a blended rent recapture rate of 98%.
---
NNN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
NNN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 01, 2025 | $41.11 | $41.23 | +0.29% |
Feb 11, 2025 | $37.53 | $39.68 | +5.73% |
Oct 31, 2024 | $44.11 | $42.20 | -4.33% |
Aug 01, 2024 | $43.06 | $44.11 | +2.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does National Retail Properties (NNN) report earnings?
National Retail Properties (NNN) is schdueled to report earning on Jul 30, 2025, TBA Not Confirmed.
What is National Retail Properties (NNN) earnings time?
National Retail Properties (NNN) earnings time is at Jul 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NNN EPS forecast?
NNN EPS forecast for the fiscal quarter 2025 (Q2) is 0.49.
---