Reports Q2 revenue $202.64M, consensus $202.57M. Steve Horn, CEO, commented: “NNN enjoyed another solid quarter as we invested $181.3M in real estate, including 36 properties, with an accretive initial cash cap rate of 7.2%, which brings our total investment for the first half of 2023 to over $337M. The portfolio is performing exceedingly well with a high level of occupancy and exceptional lease renewal percentages. Our operational execution coupled with over $750M of liquidity, strong free cash flow and a solid balance sheet allowed us to increase Core FFO guidance for 2023.”
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