Company: NNN
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001193125-25-263643
Chunk: 0

Company: NNN REIT, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 0
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NNN REIT, INC. 

and SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in thousands, except per share data)

     September 30,2025

     December 31,2024

     (unaudited)

     ASSETS

     Real estate portfolio, net of accumulated depreciation and amortization
      
     $
     9,204,697

     $
     8,746,168

     Cash and cash equivalents

     157,917

     8,731

     Restricted cash and cash held in escrow

     776

     331

     Receivables, net of allowance of $573 and $617, respectively

     2,266

     2,975

     Accrued rental income, net of allowance of $3,325 and $4,156, respectively

     33,897

     34,005

     Debt costs, net of accumulated amortization of $29,174 and $27,002, respectively

     6,973

     8,958

     Other assets

     73,580

     71,560

     Total assets
      
     $
     9,480,106

     $
     8,872,728

     LIABILITIES AND EQUITY

     Liabilities:

     Notes payable, net of unamortized discount and unamortized debt costs
      
     $
     4,870,460

     $
     4,373,803

     Accrued interest payable

     79,926

     29,699

     Other liabilities

     109,357

     106,951

     Total liabilities

     5,059,743

     4,510,453

     Equity:

     Stockholders' equity:

     Common stock, $0.01 par value. Authorized 375,000,000 shares; 189,884,648 and 187,540,929 shares issued and outstanding, respectively

     1,901

     1,877

     Capital in excess of par value

     5,290,592

     5,197,644

     Accumulated deficit

     (865,171
     )

     (829,287
     )

     Accumulated other comprehensive income (loss)

     (6,959