Q2 2023 NNN REIT Inc Earnings Call Transcript
Greetings, and welcome to the NNN REIT Second Quarter 2023 Earnings Conference Call. (Operator Instructions) Please note, this conference is being recorded.
I will now turn the conference over to your host, Mr. Steve Horn. Sir, you may begin.
Thanks, Ollie. Good morning, and welcome to NNN's Second Quarter 2023 Earnings Call. Joining me on the call is Chief Financial Officer, Kevin Habicht.
As this morning's press release reflects, NNN's performance in the second quarter produced 1.3% core FFO per share growth over prior year's results, along with investments of slightly over $180 million with a 7.2% initial cash yield. The solid acquisitions for the quarter are driven by our tenant relationships. In addition, our portfolio continued with the high occupancy of 99.4% and strong lease renewals for the quarter that have been trending above historical levels year-to-date. These results have NNN in position to create shareholder value as we transition into the second half of 2023 and
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