Stephen Horn

President, Chief Executive Officer & Director, NNN REIT INC

Search every verified Stephen Horn interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. During NNN REIT's Q2 FY26 earnings call on August 4, 2026, Horn announced a 3% increase in the common stock dividend, marking the company's 37th consecutive year of annual dividend increases. He also raised the company's 2026 guidance for adjusted funds from operations (AFFO) per share to a range of $3.55 to $3.59, the second guidance increase of the year. Horn reported that portfolio occupancy rose to 99.1% and highlighted recent merger and acquisition activity among tenants, including Mavis Tire's agreement to acquire Pep Boys and Big Brand Tire's agreement to acquire Belle Tire. Horn also discussed the company's acquisition pipeline, noting that opportunities were primarily in the auto service and convenience store sectors, while limited service restaurants and movie theaters were not seeing growth. He addressed credit risks, stating that current bad debt was low at two basis points of quarterly annualized base rent. Regarding financing, Horn said the company was waiting for interest rate volatility to settle before locking in the last $100 million of floating-rate debt and was actively evaluating hedging opportunities.