WASHINGTON (dpa-AFX) - NNN REIT Inc. (NNN), a real estate investment trust,
reported that its third quarter net earnings available to common stockholders
rose to $106.79 million or $0.59 per share from $88.42 million or $0.50 per
share in the prior year. Analysts polled by Thomson Reuters expected the company
to report earnings of $0.47 per share for the third quarter. Analysts' estimates
typically exclude special items.

Funds from operations available to common stockholders for the quarter were
$147.22 million or $0.81 per share up from $139.76 million or $0.79 per share in
the prior year.

Revenues for the third quarter grew to $205.13 million from $193.47 million in
the prior year. Analysts expected revenue of $204.7 million for the quarter.

The company raised its 2023 Core FFO guidance to a range of $3.19 to $3.23 per
share from the prior outlook of $3.17 to $3.22 per share. Analysts expect annual
earnings of $1.99 per share.

The 2023 AFFO is estimated to be $3.22 to $3.26 per share. The Core FFO guidance
equates to net earnings of $1.88 to $1.92 per share, plus $1.31 per share of
expected real estate depreciation and amortization and excludes any gains from
the sale of real estate, charges for impairments and executive retirement costs.

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