NNN Reit reports Q4 adjusted FFO 82c, consensus 82c

Reports Q4 revenue $216.23M, consensus $206.86M. CEO Steve Horn commented: “NNN continues to execute with excellence. In 2023, we grew Core FFO 3.8 percent, deployed over $800M of capital in new real estate investments and successfully executed the NNN REIT name change and branding campaign. We ended the year with $132.0M drawn on our $1.1B credit facility, accentuating our ability to raise capital and generate strong free cash flow and proceeds from selective asset dispositions, even in a challenging capital market environment. NNN maintains a multi-year view and is well-positioned to execute the 2024 strategy.”