Stephen Horn on capital markets
From NNN REIT CEO Discusses 2025 Outlook Amid Market Uncertainty · · Nareit1
“So 2024 we set the year up to have a light Capital markets footprint and we've executed that and then 2025 I think we'll be elevated we'll go back to kind of our normal run rate of Acquisitions.”
On , Stephen Horn, President, Chief Executive Officer & Director at NNN REIT INC, spoke about capital markets during NNN REIT CEO Discusses 2025 Outlook Amid Market Uncertainty on Nareit1.
About Stephen Horn
In a January 2025 interview at Nareit's REITworld conference, NNN REIT CEO Steve Horn discussed the company's outlook for 2025. Horn stated that 2024 was set up with a "light Capital markets footprint" and that 2025 would likely see a return to a "normal run rate of Acquisitions." He identified opportunities with current tenants in sectors like auto service and convenience stores, while citing challenges including uncertainty in capital markets and the direction of the 10-year Treasury yield following the recent election. Horn noted that common investor questions centered on funding sources and debt markets, as well as potential consumer softening and its effect on the portfolio. He emphasized that NNN REIT is "kind of self-funded," pointing to approximately $2 million of free cash flow and dispositions as covering the company's equity needs. Horn also said the company has spent time analyzing portfolio sales trends in light of the consumer environment.