NNN REIT, Inc. reported its financial results for the second quarter and the first half of 2025, showing a notable increase in rental income and total revenues compared to the same periods in 2024. For the quarter ended June 30, 2025, rental income reached $226.5 million, up from $216.1 million in the prior year, marking a 4.8% increase. Total revenues for the quarter were $226.8 million, a 4.6% rise from $216.8 million in the same quarter of 2024. For the six months ended June 30, 2025, rental income was $457.1 million, compared to $431.0 million in the previous year, reflecting a 6.1% increase. Net earnings for the quarter were $100.5 million, down from $106.7 million in the prior year, while net earnings for the six months totaled $197.0 million, slightly lower than $201.0 million in 2024.
The company’s total assets increased to $9.15 billion as of June 30, 2025, compared to $8.87 billion at the end of 2024. This growth was primarily driven by an increase in the real estate portfolio, which rose to $9.02 billion from $8.75 billion. NNN's total liabilities also increased, reaching $4.79 billion, up from $4.51 billion at the end of 2024, largely due to the establishment of a line of credit payable amounting to $267.7 million. The company’s stockholders' equity remained stable at approximately $4.36 billion.
In terms of operational developments, NNN REIT expanded its property portfolio, acquiring 127 properties with a gross leasable area of 2.23 million square feet during the first half of 2025. The company also disposed of 33 properties, generating a net gain of $20.0 million. As of June 30, 2025, NNN owned 3,663 properties across 50 states, with a weighted average remaining lease term of 10 years. The occupancy rate remained high at approximately 98%, indicating strong demand for its properties.
Looking ahead, NNN REIT anticipates continued growth in rental income driven by its recent acquisitions and a stable occupancy rate. The company has committed to fund construction on 20 properties, with improvements expected to be completed within the next 12 to 18 months. NNN's management remains focused on maintaining its diversified portfolio and managing its capital structure effectively to support future growth initiatives. The company has also declared a dividend of $0.6000 per share, payable in August 2025, reflecting its commitment to returning value to shareholders.
About NNN REIT, INC.
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