NNN REIT INC
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
NNN$41.76+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income and Comprehensive Income
| Quarter Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Rental income | $216,140 | $202,426 | $430,965 | $406,056 |
| Interest and other income from real estate transactions | 673 | 214 | 1,255 | 692 |
| 216,813 | 202,640 | 432,220 | 406,748 | |
| Operating expenses: | ||||
| General and administrative | 11,789 | 10,740 | 24,373 | 22,991 |
| Real estate | 6,758 | 6,836 | 13,912 | 13,682 |
| Depreciation and amortization | 62,503 | 59,875 | 123,118 | 119,023 |
| Leasing transaction costs | 20 | 52 | 53 | 127 |
| Impairment losses – real estate, net of recoveries | 944 | 34 | 2,148 | 2,674 |
| Executive retirement costs | 153 | 309 | 470 | 732 |
| 82,167 | 77,846 | 164,074 | 159,229 | |
| Gain on disposition of real estate | 17,621 | 13,930 | 22,442 | 20,230 |
| Earnings from operations | 152,267 | 138,724 | 290,588 | 267,749 |
| Other expenses (revenues): | ||||
| Interest and other income | (976) | (74) | (1,095) | (107) |
| Interest expense | 46,577 | 40,094 | 90,646 | 78,985 |
| 45,601 | 40,020 | 89,551 | 78,878 | |
| Net earnings | $106,666 | $98,704 | $201,037 | $188,871 |
| Net earnings per share: | ||||
| Basic | $0.58 | $0.54 | $1.10 | $1.04 |
| Diluted | $0.58 | $0.54 | $1.10 | $1.04 |
| Weighted average shares outstanding: | ||||
| Basic | 182,438,791 | 181,092,031 | 182,119,471 | 180,969,809 |
| Diluted | 182,807,374 | 181,627,857 | 182,528,333 | 181,544,275 |
| Other comprehensive income: | ||||
| Net earnings | $106,666 | $98,704 | $201,037 | $188,871 |
| Amortization of interest rate hedges | 610 | 616 | 1,242 | 1,223 |
| Total comprehensive income | $107,276 | $99,320 | $202,279 | $190,094 |
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