NNN REIT Reports Q4 Funds from Operations in Line with Expectations
NNN REIT, Inc. (NNN) announced its financial results for the fourth quarter ended December 31, 2023, reporting key profitability metrics that aligned with Wall Street analysts' forecasts.
Key Metrics:
* Funds from operations (FFO): $154.1 million, or $0.82 per share
* Net income: $97.9 million, or $0.52 per share
* Adjusted revenue: $218.3 million
Analyst Estimates:
NNN's FFO per share of $0.82 matched the consensus estimate of eight analysts surveyed by Zacks Investment Research.
Other Financial Highlights:
* Total revenue for the quarter: $218.5 million
* Full-year FFO: $616.6 million
* Full-year revenue: $867.5 million
Outlook:
NNN REIT expects full-year 2024 FFO in the range of $3.39 to $3.44 per share.