NNN REIT, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 08:34 am EDT
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NNN REIT, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 202.43 million compared to USD 190.54 million a year ago. Revenue was USD 202.64 million compared to USD 190.78 million a year ago. Net income was USD 98.7 million compared to USD 74.17 million a year ago. Basic earnings per share from continuing operations was USD 0.54 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.54 compared to USD 0.42 a year ago.
For the six months, sales was USD 406.06 million compared to USD 380.3 million a year ago. Revenue was USD 406.75 million compared to USD 381.06 million a year ago. Net income was USD 188.87 million compared to USD 155.54 million a year ago. Basic earnings per share from continuing operations was USD 1.04 compared to USD 0.89 a year ago. Diluted earnings per share from continuing operations was USD 1.04 compared to USD 0.89 a year ago.
NNN REIT, Inc. is a fully integrated real estate investment trust (REIT). The Companyâs assets are primarily real estate assets. It acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment (properties or property portfolio, or individually a property). It owns approximately 3,532 Properties with an aggregate gross leasable area of approximately 35,966,000 square feet, located in 49 states. The Company invests primarily in retail real estate that is located within each local market for its tenant's retail lines of trade. The Companyâs portfolio includes convenience stores; automotive service; restaurants-full service; restaurants-limited service; family entertainment centers; health and fitness; theaters; recreational vehicle dealers, parts, and accessories; equipment rental; automotive parts; wholesale clubs; home improvement; drug stores; travel plazas; and furniture, among others.
NNN REIT, INC. 
