Quarterly ResultApr 30, 2026, 08:39 AM
NNN Q1 AFFO $0.87; Raises 2026 Guidance to $3.53-$3.59 AFFO/Share
AI Summary
NNN REIT, Inc. announced strong first quarter 2026 financial and operating results, leading to an increase in its full-year 2026 guidance for AFFO and Core FFO per share. The company reported diluted net earnings of $0.50 per share and AFFO of $0.87 per diluted share, alongside a 6.9% increase in ABR and improved portfolio occupancy to 98.6%. NNN also completed $145.4 million in investments and maintained a flexible balance sheet with $1.2 billion in liquidity.
Key Highlights
- Increased 2026 AFFO per share guidance to $3.53-$3.59.
- Reported Q1 diluted net earnings of $0.50 per share.
- Achieved Q1 AFFO of $0.87 per diluted share.
- Increased ABR by 6.9% YoY to $934.6 million.
- Portfolio occupancy rose to 98.6%, up 90 basis points YoY.
- Invested $145.4 million in 41 properties at a 7.5% cap rate.
- Paid a quarterly dividend of $0.60 per share.
- Fully drew $300 million term loan, hedged at 4.10% fixed rate.