Fourth Quarter 2025 Investor Presentation The Collection at Forsyth | Cumming, GA Highlights Q4 2025 Highlights | Core FFO Per Share | | --- | | Implied property value per square foot | | Square feet of comparable leasing 167,000 activity | | 31% Comparable leasing spread | | ABR from Georgia, Florida, North Carolina & Texas | | Leased Occupancy – 490 bps spread to 91.0% occupancy | | SNO Pipeline – 5.8% of in-place ABR | | Cash ABR PSF | | Quarterly same-property NOI growth 4.3% for shopping centers | | $0 ...

ORLANDO, Fla., Feb. 11, 2026 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN) (the "Company" or "NNN"), a real estate investment trust, today announced financial and operating results for the quarter and year ended December 31, 2025. Highlights include: 2025 Highlights: Fourth Quarter 2025 and Additional Highlights: Steve Horn, Chief Executive Officer, commented: "NNN achieved 2.7 percent AFFO growth per share and had a record year deploying over $900 million in real estate investments. Our proactive portfolio ma ...

AUSTIN, Texas, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today financial results for the fourth quarter of 2025. All per share results are presented on a fully diluted basis. Highlights Reported net income available to common stockholders of $0.24 per share in 4Q25, compared to $0.51 in 4Q24Reported FFO per share of $1.89 in 4Q25, compared to $1.61 in 4Q24Reported Co ...

Core Insights - Rexford (REXR) is highlighted as a top investment choice in the industrial REIT sector, boasting 420 properties and over 50 million square feet of rentable space [1] - The company raised its guidance for Core FFO per diluted share in its Q3 earnings report, indicating a solid quarter [2][4] Updated Guidance - REXR updated its guidance for Same Property Portfolio Cash NOI Growth from 2.5% to 4%, reflecting a significant increase [4] - The new guidance for annualized figures shows a Cash NOI of $533.353 million with a growth of 2.5%, compared to the old guidance of 4% growth [4] Leasing Activity - REXR reported a record leasing activity of 3.3 million square feet in Q3, a substantial increase from 1.7 million square feet in the previous quarter [9] - The net effective leasing spreads were reported at 26.1%, while cash leasing spreads were at 10.3%, marking a strong performance [9] Financial Management - The company reduced its net interest expense guidance from $107 million to $105 million, contributing to improved financial metrics [6] - REXR repurchased $150 million worth of shares at an average price of $38.62, representing about 1.65% of the weighted-average shares outstanding [15] Overall Performance - REXR's strong performance in leasing and increased cash NOI guidance indicate robust fundamentals, positioning the company favorably in the market despite macroeconomic challenges [17] - The management's conservative balance sheet strategy and proactive share repurchase actions reflect confidence in the company's valuation and growth potential [16]

Core Insights - NNN REIT, Inc. reported strong financial and operational results for Q3 2025, achieving its highest quarterly acquisition volume since 2018 with over $280 million invested in real estate [1][3] - The company raised its earnings guidance for 2025, supported by $1.4 billion in liquidity and a robust balance sheet [1][9] Financial Results - Revenues for Q3 2025 were $230.2 million, up from $218.6 million in Q3 2024, representing a 5.3% increase [2] - Net earnings for Q3 2025 were $96.8 million, slightly down from $97.9 million in Q3 2024 [2] - Funds From Operations (FFO) for Q3 2025 were $158.7 million, compared to $154.2 million in Q3 2024, with FFO per share remaining stable at $0.84 [2][31] - Core FFO increased by 1.2% year-over-year to $159.4 million, with Core FFO per share at $0.85 [3][31] Portfolio Snapshot - The company owned 3,697 properties with a total gross leasable area of approximately 39.2 million square feet as of September 30, 2025 [4][14] - The occupancy rate was reported at 97.5%, slightly down from 98.0% in the previous quarter [4] - Annualized Base Rent (ABR) increased by 7.2% year-over-year to $912.2 million [3] Property Acquisitions and Dispositions - NNN closed on $283 million of investments in Q3 2025, with a weighted average cap rate of 7.3% and a weighted average lease term of 17.8 years [3][5] - The company sold 23 properties for $41.3 million, achieving a weighted average cap rate of 5.9% [3][7] Capital Markets Activity - In Q3 2025, NNN issued 1,670,737 common shares, raising $71.7 million at an average price of $42.89 [8] - The company also issued $500 million in senior unsecured notes due 2031 to fund investment activities [8] Balance Sheet and Liquidity - As of September 30, 2025, NNN reported gross debt of $4.95 billion with a weighted average interest rate of 4.2% and a maturity of 10.7 years [9][35] - The company maintained $1.4 billion in total available liquidity, including a $1.2 billion line of credit [9] Dividend Information - NNN declared a quarterly dividend of $0.60 per share, representing a 3.4% increase from the previous quarter [10][32] 2025 Guidance - The company updated its guidance for 2025, increasing Core FFO per share guidance to a range of $3.36 to $3.40 and AFFO per share guidance to $3.41 to $3.45 [11]

Financial Highlights - Core FFO Per Share is $0.48[4] - Cash ABR PSF is $19.61[4] - Quarterly same-property NOI growth is 2.3%[4] - FY 2025 Guidance for Core FFO Per Diluted Share is $1.84 - $1.87[4] Portfolio & Leasing Activity - Leased Occupancy is 94.2%, a 360 bps spread to 90.6% occupancy[4] - Comparable leasing spread is 10%[4] - Approximately 125,000 square feet of comparable leasing activity[4] - SNO Pipeline is $5.5 million, representing 5.3% of in-place ABR[4] - 82% of ABR is from Georgia, Texas, Florida & North Carolina[4, 11] Enterprise Value & Valuation - Enterprise Value is $1.2 billion[5, 11] - Equity Market Cap is $533 million[11] - Net Debt Outstanding is $598 million[11]

Core Insights - CTO Realty Growth, Inc. has raised its full-year 2025 outlook, indicating positive expectations for financial performance [1][29] - The company has strengthened its balance sheet with a $150 million term loan financing, which will help in managing its debt obligations [1][23] - The current signed-not-open pipeline stands at $5.5 million, representing 5.3% of annual cash base rent, which is expected to contribute to future net operating income (NOI) [1][5] Financial Performance - For the third quarter ended September 30, 2025, net income attributable to the company was $2.914 million, a decrease of 53.2% compared to $6.227 million in the same quarter of 2024 [4] - Core Funds from Operations (FFO) attributable to common stockholders increased by 23.7% to $15.632 million, while Adjusted Funds from Operations (AFFO) rose by 24.4% to $16.345 million [4][5] - Same-Property NOI for the third quarter totaled $18.6 million, reflecting a 2.3% increase from $18.2 million in the prior year [5][14] Leasing Activity - The company leased 143,000 square feet in the third quarter, bringing year-to-date leasing to 482,000 square feet, with a portfolio occupancy rate of 94.2% [3][19] - The average cash base rent for comparable leases signed this year increased by 21.7% to $24.16 per square foot compared to $19.85 per square foot previously [19][20] - The company is currently negotiating leases for four vacant anchor spaces, which, along with the signed-not-open pipeline, is expected to drive NOI growth in 2026 and beyond [3][5] Capital Markets and Balance Sheet - As of September 30, 2025, the company had $170.3 million in liquidity and closed on $150 million in new term loan financings at an initial fixed interest rate of 4.2% [5][23] - The company repurchased 571,473 shares of common stock for $9.3 million at a weighted average price of $16.27 per share [5][23] - The company's net debt to Pro Forma Adjusted EBITDA ratio was 6.7 times, and the fixed charge coverage ratio was 3.0 times as of September 30, 2025 [28] 2025 Outlook - The company has increased its Core FFO and AFFO guidance for 2025, projecting Core FFO per diluted share to be between $1.84 and $1.87, and AFFO per diluted share to be between $1.96 and $1.99 [29][30] - The outlook includes assumptions for investments between $100 million and $200 million at a weighted average initial cash yield of 8.0% to 8.5% [29]

Core Insights - Easterly Government Properties reported strong financial results for Q2 2025, with Core Funds From Operations (Core FFO) per share of $0.74, significantly exceeding analyst expectations of $0.115 by 543.5% [1][2] - GAAP revenue increased to $84.2 million, surpassing the consensus estimate of $80.6 million, reflecting a year-over-year growth of 10.5% from $76.2 million in Q2 2024 [1][2] - The company maintains a focus on government-leased properties, with over 90% of its income derived from U.S. government agencies, ensuring stability and long-term cash flow visibility [3][4] Financial Performance - GAAP EPS for Q2 2025 was reported at $0.09, down 18.2% from $0.11 in Q2 2024 [2] - Core FFO per share rose slightly by 2.8% year-over-year from $0.72 in Q2 2024 [2][5] - EBITDA (Non-GAAP) increased by 18.3% to $54.3 million compared to $45.9 million in Q2 2024 [2] Business Strategy - The company focuses on maintaining high occupancy rates and long lease terms with secure government tenants, alongside targeted acquisitions and developments [4] - Recent acquisitions include a 290,000-square-foot property in Washington, DC, and a 74,549-square-foot facility leased to the Department of Homeland Security [6] - Development projects include a federal courthouse in Medford, Oregon, and a forensic laboratory in Florida, both backed by long-term leases [7] Leasing and Tenant Retention - The portfolio consists of 102 properties with a weighted average lease term of 9.6 years, indicating strong cash flow visibility [8] - Government and government-adjacent leases account for over 90% of rental income, supporting stability [8] Cost Management - Property operating costs rose to $19.2 million from $18.1 million in Q2 2024, influenced by increased depreciation, interest expense, and property taxes [9] - Interest expense increased to $18.96 million due to a heavier debt load and rising rates [9] Environmental and Sustainability Focus - Over 45% of the portfolio meets sustainability benchmarks, aligning with tenant and government energy policies [10] Future Guidance - Management reiterated full-year 2025 guidance for Core FFO per share in the range of $2.98 to $3.03, with an expected growth of 2% to 3% [11] - The company plans approximately $140 million in acquisitions and gross development investments of $25 million to $75 million [11] - The quarterly dividend was maintained at $0.45 per share, yielding roughly 8% based on recent share prices [12]

Core Insights - NNN REIT, Inc. reported strong financial performance for Q2 2025, with revenues of $226.8 million, a 4.5% increase from $216.8 million in Q2 2024 [2][30] - The company achieved net earnings of $100.5 million, translating to $0.54 per diluted share, compared to $106.7 million or $0.58 per diluted share in the same quarter last year [2][30] - Core FFO and AFFO per diluted share grew by 1.2% year-over-year to $0.84 and $0.85, respectively [3][33] - NNN invested $233 million across 45 properties at an initial cash cap rate of 7.4% during the quarter, contributing to a total of $464.9 million in investments for the first half of 2025 [3][5] Financial Results - Total revenues for the six months ended June 30, 2025, reached $457.7 million, up from $432.2 million in the same period of 2024 [2][30] - FFO for the quarter was $157.2 million, compared to $152.4 million in Q2 2024, while Core FFO for the same period was $157.4 million, up from $152.5 million [2][30] - The company reported a 6.7% increase in Annualized Base Rent (ABR) year-over-year, reaching $893.8 million [3][41] Property Acquisitions and Dispositions - NNN closed on $232.5 million of investments in Q2 2025, with a weighted average lease term of 17.8 years [3][5] - The company sold 23 properties for $51.2 million, including $24.7 million from income-producing properties at a weighted average cap rate of 6.2% [3][7] Capital Markets Activity - NNN raised $10.9 million through the issuance of 254,222 common shares at an average price of $43.03 [8] - The company issued $500 million in senior unsecured notes due 2031, enhancing balance sheet flexibility and increasing total available liquidity to $1.4 billion [9][10] Dividend Information - The company declared a quarterly dividend of $0.60 per share, marking a 3.4% increase and the 36th consecutive annual dividend increase [10][11] 2025 Guidance - NNN updated its 2025 guidance, increasing the midpoint for Core FFO and AFFO per share by $0.01 and raising acquisition volume guidance by $100 million [12][12]

Second Quarter 2025 Investor Presentation The Exchange at Gwinnett | Atlanta, GA Highlights Q2 2025 Highlights | $0.45 | Core FFO Per Share | | --- | --- | | $213 | Implied property value per square foot | | $19.35 | Cash ABR PSF | | ~190,000 | Square feet of comparable leasing activity | | 22% | Comparable leasing spread | | 83% | ABR from Georgia, Texas, Florida & North Carolina | | 93.9% | Leased Occupancy | | $4.6M | SNO Pipeline – 4.6% of in-place ABR | | 0.9% | Quarterly same-property NOI growth | | $ ...