National Retail Properties ( (NNN) ) has released its Q3 earnings. Here is a breakdown of the information National Retail Properties presented to its investors.
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National Retail Properties, operating as NNN REIT, Inc., is a real estate investment trust specializing in high-quality retail properties across the United States with a focus on long-term, net leases.
In the latest earnings report, NNN REIT reported a steady performance for the third quarter of 2024, showcasing growth in its core financial metrics. The company maintained a high occupancy rate while continuing to expand its property portfolio.
Key financial highlights include a 3.7% increase in Funds From Operations (FFO) and Core FFO per share compared to the previous year, with AFFO per share also rising by 2.4%. The company invested $113.6 million in acquiring eight properties and raised $178.9 million from issuing common shares. Additionally, NNN REIT maintained a robust balance sheet with no debt maturities until late 2025.
For the first nine months of 2024, the company invested $348.6 million in 44 properties and issued $500 million in senior unsecured notes, enhancing its financial flexibility. The strategic moves align with NNN REIT’s commitment to delivering long-term shareholder value.
Looking ahead, NNN REIT’s management remains optimistic about capitalizing on growth opportunities, supported by a strong financial position and stable cash flows. The firm expects continued solid performance in its FFO and AFFO metrics, underscoring its resilience in the retail property sector.
