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.
National Retail Properties (NYSE: NNN) will hold its Annual Meeting of stockholders on May 12, 2021, at 8:30 a.m., via webcast to minimize COVID-19 risks. Stockholders are encouraged to attend online instead of in-person. Access the meeting at https://agm.issuerdirect.com/NNN. Voting cannot be conducted through the webcast, so stockholders should vote using their proxy materials. As of December 31, 2020, NNN owned 3,143 properties across 48 states, boasting a gross leasable area of 32.5 million square feet.
The Board of Directors of National Retail Properties (NYSE: NNN) has declared a quarterly dividend of 52 cents per share, payable on May 14, 2021, to shareholders on record as of April 30, 2021. NNN boasts a strong track record, being among only three publicly traded REITs to have increased annual dividends for over 31 consecutive years. As of December 31, 2020, the company owned 3,143 properties across 48 states, with a gross leasable area of approximately 32.5 million square feet and a weighted average remaining lease term of 10.7 years.
National Retail Properties, Inc. (NYSE: NNN) is redeeming all outstanding 3.30% Notes due March 2023 on March 12, 2021. The redemption price includes 100% of the principal amount plus a Make-Whole Amount of $21,327,880.22 and accrued interest. As of March 2, 2021, approximately $350 million of the Notes remains outstanding. U.S. Bank National Association will be the paying agent. The company, which invests in retail properties on long-term leases, owned 3,143 properties across 48 states as of December 31, 2020.
National Retail Properties announced the pricing of its public offering of $450,000,000 in 3.500% senior unsecured notes due 2051. The notes were priced at 98.132% of the principal amount, yielding 3.602% to maturity. Interest will be paid semi-annually starting October 15, 2021. Proceeds will be used to redeem existing 3.30% notes due 2023, fund property acquisitions, and for general corporate purposes. The offering is expected to close around March 10, 2021.
The Board of Directors of National Retail Properties (NYSE: NNN) declared a cash dividend of 32.5 cents per share on its 5.20% Series F Cumulative Redeemable Preferred Stock. The dividend is payable on March 15, 2021, to shareholders of record as of February 26, 2021.
National Retail Properties primarily invests in high-quality retail properties under long-term net leases. As of December 31, 2020, the company owned 3,143 properties across 48 states, covering approximately 32.5 million square feet with a weighted average remaining lease term of 10.7 years.
National Retail Properties reported its operating results for Q4 and the year ended December 31, 2020. Total revenues declined to $163.3 million for the quarter, down from $173.4 million in 2019, and $660.7 million for the year, compared to $670.5 million in 2019. Net earnings for Q4 were $56.8 million, with a $0.33 earnings per share. The company maintained a high occupancy rate of 98.5% and increased its annual dividend by 2% to $2.07. They reported strong rent collections with approximately 89.7% collected for 2020. Management provided optimistic guidance for 2021 Core FFO between $2.55 and $2.62 per share.
The Board of Directors of National Retail Properties, Inc. (NYSE: NNN) declared a quarterly dividend of 52 cents per share, payable on February 16, 2021, to shareholders recorded on January 29, 2021. NNN has a strong dividend history, being one of only three publicly traded REITs to have increased annual dividends for over 31 consecutive years. As of September 30, 2020, the company owned 3,114 properties across 48 states, covering approximately 32.4 million square feet with a weighted average lease term of 10.7 years.
National Retail Properties (NYSE:NNN) announced that 80.1814% of common stock dividends and 100% of Preferred Series F dividends for 2020 are classified as taxable distributions for federal income tax purposes. The total common dividend paid was $2.07 per share, representing the thirty-first consecutive annual increase. The company owns 3,114 retail properties across 48 states, with a total gross leasable area of approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.
On December 14, 2020, National Retail Properties (NYSE: NNN) announced the retirement of Paul Bayer, Executive Vice President and Chief Investment Officer, effective December 31, 2020. Bayer joined the company in September 1999 and has held multiple leadership roles, contributing significantly to shareholder value. He will continue to provide consulting services for one year post-retirement. As of September 30, 2020, National Retail Properties owned 3,114 properties across 48 states, with a gross leasable area of 32.4 million square feet and an average remaining lease term of 10.7 years.
On November 16, 2020, National Retail Properties (NYSE: NNN) declared a cash dividend of 32.5 cents per share on its 5.20% Series F Cumulative Redeemable Preferred Stock. This dividend is payable on December 15, 2020, to shareholders of record as of November 30, 2020. The company, which invests in high-quality retail properties, owned 3,114 properties across 48 states as of September 30, 2020, with a gross leasable area of approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.
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.?
