Welcome to our dedicated page for NNN REIT news (Ticker: NNN), a resource for investors and traders seeking the latest updates and insights on NNN REIT stock.
NNN REIT, Inc. (NYSE: NNN) is a prominent real estate investment trust specializing in single-tenant retail properties, typically under long-term, net leases. Established in 1984, NNN commenced trading on the New York Stock Exchange in 1994. The company is renowned for its impressive track record of increasing annual dividends for over 34 consecutive years, making it a solid investment choice for shareholders.
NNN REIT owns a diversified portfolio of 3,546 high-quality retail properties across 49 states, with a gross leasable area of about 36.1 million square feet. The properties are leased to over 400 tenants in 38 different industry classifications, including convenience stores, automotive services, fitness centers, theaters, restaurants, and banks. The company's properties are predominantly located in the South and Southeast regions of the United States, with rents from convenience stores and restaurants comprising the majority of its revenue.
In recent developments, NNN REIT reported solid operational performance in the first quarter of 2024, with nearly $125 million in property acquisitions. These acquisitions yielded an initial cash cap rate of 8% and had an 18-year weighted average remaining lease term. The company's robust property portfolio, coupled with over $1 billion in liquidity, positions NNN to deliver long-term shareholder value.
Financially, NNN REIT has maintained a strong balance sheet with significant free cash flow and liquidity. As of the first quarter of 2024, the company’s Core Funds From Operations (Core FFO) guidance ranges from $3.25 to $3.31 per share, reflecting solid earnings growth and strategic investments. The company also boasts a high level of occupancy and exceptional lease renewal percentages, further bolstering its financial health.
Recent financial highlights include securing a $500 million 10-year unsecured note offering, which enhances NNN's ability to execute its multi-year strategy amidst challenging capital market conditions. Additionally, the company's unsecured bank credit facility has been amended to increase borrowing capacity to $1.2 billion, with options to extend maturity to April 2029, demonstrating strong support from its banking partners.
For more information and updates on NNN REIT, Inc., visit their official website at www.nnnreit.com.
NNN REIT reported its Q3 2024 financial results with notable growth in key metrics. Revenues increased to $218.6M from $205.1M in Q3 2023. FFO and Core FFO per share both rose 3.7% to $0.84, while AFFO per share grew 2.4% to $0.84. The company maintained a high occupancy rate of 99.3% with a 10-year weighted average lease term.
During Q3, NNN invested $113.6M in property acquisitions at a 7.6% initial cash cap rate and sold nine properties for $20.0M. The company raised $178.9M through common share issuance and narrowed its 2024 Core FFO guidance to $3.28-$3.32 per share.
NNN REIT, a real estate investment trust, has declared a quarterly dividend of 58 cents per share, payable on November 15, 2024 to shareholders of record as of October 31, 2024. This announcement highlights NNN's status as one of only three publicly traded REITs to have increased its annual dividend for 35 or more consecutive years.
NNN REIT specializes in investing in high-quality retail properties with long-term, net leases. As of June 30, 2024, the company owned 3,548 properties across 49 states, encompassing approximately 36.1 million square feet of gross leasable area. The weighted average remaining lease term for these properties is 10.0 years.
NNN REIT, Inc. (NYSE: NNN) has announced its Q2 2024 operating results and increased guidance for 2024. Key highlights include:
- Revenues increased to $216,813,000 in Q2 2024, up from $202,640,000 in Q2 2023
- Net earnings per share rose to $0.58, compared to $0.54 in the same quarter last year
- AFFO per share grew 5.0% to $0.84
- Maintained high occupancy levels at 99.3%
- Invested $110.5 million in property acquisitions at an initial cash cap rate of 7.9%
- Increased Core FFO guidance for 2024 to $3.27-$3.33 per share
- Raised the quarterly dividend by nearly 3% to $0.58 per share, marking the 35th consecutive year of dividend increases
NNN REIT, Inc. (NYSE: NNN) has announced a 2.7% increase in its quarterly dividend to 58 cents per share, payable on August 15, 2024, to shareholders of record as of July 31, 2024. This marks the 35th consecutive annual dividend increase for the company, making it one of only three publicly traded REITs to achieve this milestone. CEO Steve Horn attributes this consistent growth to a disciplined capital deployment strategy and a strong, flexible balance sheet.
As of March 31, 2024, NNN REIT owned 3,546 properties across 49 states, with a gross leasable area of approximately 36.1 million square feet and a weighted average remaining lease term of 10.0 years. The company primarily invests in high-quality retail properties subject to long-term, net leases.
On May 21, 2024, NNN REIT announced the pricing of its public offering of $500 million in 5.500% senior unsecured notes due 2034. The notes were offered at 5.662% of the principal amount, with a yield to maturity of 98.768%, and interest will be paid semi-annually starting December 15, 2024. The offering is expected to close on May 29, 2024, subject to customary closing conditions. Net proceeds will be used to repay outstanding credit facility debt, fund future property acquisitions, and for general corporate purposes. The company owns 3,546 properties across 49 states, with a gross leasable area of 36.1 million square feet and an average remaining lease term of 10 years.
On May 21, 2024, NNN REIT announced the pricing of its public offering of $500 million of 5.500% senior unsecured notes due 2034. The notes were offered at 98.768% of the principal amount, yielding a 5.662% maturity rate, with the offering expected to close on May 29, 2024, subject to customary conditions. Proceeds will be used for repaying current debt, funding new property acquisitions, and general corporate purposes. The notes will have semi-annual interest payments starting on December 15, 2024, maturing on June 15, 2034. Major financial institutions are managing the offering. As of March 31, 2024, NNN REIT owned 3,546 properties across 49 states with a gross leasable area of approximately 36.1 million square feet and an average remaining lease term of 10 years.
NNN REIT, Inc. (NYSE: NNN) announced its first quarter 2024 operating results, showcasing revenue growth and increased per share metrics. The company maintained high occupancy levels and made significant property investments, while also issuing new common shares. CEO Steve Horn emphasized the company's stability, strong portfolio, and future value creation for shareholders.
FAQ
What is the current stock price of NNN REIT (NNN)?
What is the market cap of NNN REIT (NNN)?
What does NNN REIT, Inc. specialize in?
Where are NNN REIT's properties primarily located?
How many properties does NNN REIT own?
What is the company's Core FFO guidance for 2024?
How long has NNN REIT been increasing its annual dividends?
Who are some of NNN REIT's tenants?
What recent financial actions has NNN REIT undertaken?
What is the gross leasable area of NNN REIT's property portfolio?
How does NNN REIT generate revenue?
Where can I find more information about NNN REIT, Inc.?
