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● ● ● Dallas , TX- November 2 , 2021 -Spirit Realty Capital , Inc. ( NYSE : SRC ) ( " Spirit " or the " Company " ) , a net - lease real estate investment trust ( " REIT " ) that invests in single - tenant , operationally essential real estate , today reported its financial and operating results for the third quarter ended September 30 , 2021 . HIGHLIGHTS ● SPIRIT REALTY ● Spirit Realty Capital , Inc. Announces Third Quarter of 2021 Financial and Operating Results Press Release - Generated Net Income of $ 0.32 per Share , FFO of $ 0.87 per Share and AFFO of $ 0.84 per Share - - Invested $ 294.2 Million in Acquisitions and Revenue - Producing Capital Expenditures - - Issued 4.2 Million Shares for Net Proceeds of $ 190.9 Million - Generated net income of $ 0.32 vs $ 0.11 per diluted share , FFO of $ 0.87 vs $ 0.59 per share and AFFO of $ 0.84 vs $ 0.72 per share , compared to the same quarter in 2020 . Invested $ 294.2 million in the third quarter , including the acquisition of 31 properties for $ 291.8 million with an initial weighted average cash yield of 7.27 % and an economic yield of 8.62 % . Generated $ 7.6 million in gross proceeds from the disposition of three vacant properties . Entered into new forward contracts to issue 3.9 million shares of common stock at an initial weighted average forward price of $ 48.72 and issued 4.2 million shares of common stock to settle certain forward contracts , generating net proceeds of $ 190.9 million . As of September 30 , 2021 , Spirit had unsettled forward contracts for 1.6 million shares of common stock with a current weighted average forward price of $ 48.64 . Adjusted Debt to Annualized Adjusted EBITDAre of 5.0x or 4.9x assuming the settlement of the 1.6 million open forward equity contracts . Produced strong operational performance , with occupancy of 99.7 % , Lost Rent of 0.1 % and Unreimbursed Property Costs of 1.4 % . Had Corporate Liquidity of $ 843.5 million as of September 30 , 2021 , comprised of availability under the 2019 Credit Facility , cash and cash equivalents and available proceeds from unsettled forward equity contracts . Received a credit rating upgrade from Moody's Investors Service on October 29 , 2021 from Baa3 to Baa2 . CEO COMMENTS " Our portfolio performance , driven by our high - quality mix of tenants , industries and asset types , coupled with accretive acquisitions , drove AFFO per share growth in the third quarter . We look forward to continuing our momentum into year - end as we execute our business strategy and capitalize on opportunities with our tenants and business partners , ” stated Jackson Hsieh , President and Chief Executive Officer . 1 | Page