NNN REIT, Inc. (NNN) Q3 2023 Earnings Call Transcript


NNN REIT, Inc. (NYSE:NNN) Q3 2023 Results Conference Call November 1, 2023 10:30 AM ET

Company Participants

Stephen Horn – President and Chief Executive Officer

Kevin Habicht – Executive Vice President and Chief Financial Officer

Conference Call Participants

Joshua Dennerlein – BofA Securities

Ronald Kamdem – Morgan Stanley

Eric Wolfe – Citi

Spenser Allaway – Green Street

Bradley Heffern – RBC Capital Markets

Robert Stevenson – Janney Montgomery Scott

Linda Tsai – Jefferies LLC

Operator

Greetings, and welcome to the NNN REIT Inc. Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]

Please note this conference is being recorded. I will now turn the conference over to your host, Steve Horn, Chief Executive Officer. Sir, you may begin.

Stephen Horn

Thanks, Ali. Good morning, and welcome to NNN REIT’s Third Quarter 2023 Earnings Call. Joining me on the call is Chief Financial Officer, Kevin Habicht.

As this morning’s press release reflects NNN’s performance in 2023 continues to produce strong results, including high occupancy, solid acquisitions driven by our proprietary relationships, which is the NNN mode to creating quality earnings. We are in a position to continue the performance through the fourth quarter as our pipeline and capital are in place.

Based on our year-to-date performance, we announced a further increase in our 2023 guidance for core FFO to a range of 3.19 to 3.23 per share and we raised the midpoint of total acquisition volume to 750 million from 650 million.

Before I get into the day-to-day operations and market conditions, I would like to discuss significant third quarter events for the company. First, I’m excited to welcome Mr. John Adamas to the executive team as Head of Portfolio Operations. John joined NNN in 2003 and has been a



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *