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Omotayo Tejumade Okusanya

Managing Director and Head of Real Estate Research at Deutsche Bank

Omotayo Tejumade Okusanya is a Managing Director and Head of Real Estate Research at Deutsche Bank, specializing in REITs with a focus on healthcare and lifestyle properties. He covers companies such as Sabra Health Care REIT and Equity Lifestyle Properties, where he recently upgraded ELS from Hold to Buy with a price target raise to $73, though specific performance metrics like success rates or TipRanks rankings are not publicly detailed. Okusanya graduated from Rutgers Business School in 1996 with degrees in accounting and computer science and has built a long career on Wall Street as a real estate research veteran at Deutsche Bank. His professional credentials include his managing director status, and he is actively involved in mentoring and scholarship programs at Rutgers.

Omotayo Tejumade Okusanya's questions to NNN REIT (NNN) leadership

Question · Q4 2025

Omotayo Tejumade Okusanya asked for clarification on the drivers of NNN REIT's quarter-over-quarter occupancy gain, specifically whether it was primarily due to vacant asset sales or strong leasing activity, and its implications for 2026. He also inquired about NNN REIT's normalized AFFO per share growth and steady-state earnings growth, considering the 2026 guidance and 2025 performance.

Answer

CEO Stephen A. Horn Jr. clarified that most of the occupancy upside was driven by vacant asset sales, with some re-leasing activity. He expects vacancies to continue decreasing in 2026 through sales and re-leasing, which is reflected in lower net real estate expenses. Regarding growth, Mr. Horn reiterated NNN REIT's long-term mantra of achieving mid-single-digit consistent FFO growth, acknowledging that annual performance can vary based on macroeconomic conditions and portfolio composition.

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