National Retail Properties reports Q1 adjusted FFO 82c, consensus 80c

Reports Q1 revenue $204.11M, consensus $199.11M. CEO Steve Horn commented: "NNN had a solid start to 2023 with just over $155M in property acquisitions with an initial cap rate of seven percent and a 19 year weighted average lease term. Additionally, NNN continued to maintain high occupancy levels in the portfolio. The 3.9% Core FFO growth over the prior year results coupled with wider investment cap rates on acquisitions and steady balance sheet management, allows NNN to strive to provide long-term shareholder value as we progress in 2023."