The following is a summary of the NNN REIT, Inc. (NNN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 core FFO per share guidance tightened to $3.28 to $3.32.

• Acquisitions raised by 22% to $550 million midpoint for the year.

• Quarterly core FFO results were $0.84 per share, up from $0.81 per share year-over-year.

• Occupancy remained high at 99.3%, with minimal vacancies.

• Raised $175 million through ATM program, displaying robust capital market activity.

• 2024 acquisition investments totaled approximately $350 million.

Business Progress:

• Invested $113 million in 8 new properties with an initial cash cap rate of 7.6%.

• Sold 9 properties including 5 vacants, reinforcing asset rotation strategy.

• Elevated lease termination income as part of active portfolio management.

• Maintained industry-leading weighted debt maturity of 12.3 years, enhancing financial stability.

Opportunities:

• Increase in acquisitions demonstrates strong execution capability and a robust pipeline.

• Strong liquidity and capital position allow for responsive acquisition strategy amid evolving market conditions.

Risks:

• Tenant credit issues with Frisch's and Badcock represent financial risks, adding uncertainty to income.

• Potential for elevated property expenses tied to repossessing properties from troubled tenants.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.