NNN REIT, Inc. (NNN) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

are on a listen-only mode, and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Steve Horn, Chief Executive Officer of NNN REIT, Inc. Sir, the floor is yours. Thank you, Matthew. Good morning, and welcome to NNN's second quarter 2025 earnings call. Joining me today on the call, Chief Financial Officer, Ben Chow. As outlined in the morning's press release, NNN continued to deliver strong performance in the first half of 2025. Notably, we've improved our balance sheet flexibility following capital markets activity with a sector-leading average debt maturity of 11 years, solid acquisitions driven by our tenant relationships, and we published the third annual corporate sustainability report. These results and actions position us well to continue enhancing shareholder value as we enter the second half of the year and beyond. Also, as usual, we always have to mention the dividend. In July, we announced a 3.4% increase in our common stock dividend, payable August 15th. This marks our 36th consecutive year of annual dividend increases, a milestone that places us among very few, less than 80, US public companies, and only two other REITs to have achieved such a track record. Before we get into the operational performance and marketing conditions, I'd like to touch on a few key recent events. First, I'm thrilled to welcome Mr. Josh Lewis to the Executive Leadership Team as our new Chief Investment Officer. Josh has been with the company since 2008 and has played a pivotal role from day one. Known for his prolific deal-making ability and deep market relationships, Josh ensures that shareholder capital is deployed towards the most compelling, risk-adjusted opportunities. I'm fully confident ...