STOCK TITAN

NNN REIT, Inc. - NNN STOCK NEWS

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.

Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.25%
Tags
none
-
News
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.25%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.39%
Tags
Rhea-AI Summary
NNN REIT, Inc. increases unsecured credit facility to $1.2 billion, providing financial flexibility for acquisition opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.76%
Tags
none
-
Rhea-AI Summary
NNN REIT, Inc. declares a quarterly dividend of 56.5 cents per share, showcasing its commitment to shareholders. The company has a strong track record of increasing dividends for over three decades, making it a reliable investment option. NNN REIT focuses on high-quality retail properties with long-term, net leases, owning a vast portfolio across 49 states.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.94%
Tags
dividends
-
Rhea-AI Summary
NNN REIT, Inc. announced operating results for the quarter and year ended December 31, 2023, with highlights including increased net earnings, FFO, Core FFO, and AFFO per common share. The company saw a 14.3% increase in net earnings per common share, 4.5% increase in FFO per common share, and 3.8% increase in Core FFO per common share in 2023. NNN REIT also maintained high occupancy levels and made significant property investments. The company raised $31.4 million in net proceeds from the issuance of common shares and issued $500 million in senior unsecured notes due 2033. The company announced 2024 Core FFO guidance of $3.25 to $3.31 per share and 2024 AFFO estimated to be $3.29 to $3.35 per share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.28%
Tags
none
Rhea-AI Summary
NNN REIT, Inc. (NYSE: NNN) has declared a quarterly dividend of 56.5 cents per share, payable on February 15, 2024, to shareholders of record as of January 31, 2024. The company has increased its annual dividend for 34 or more consecutive years, positioning it as one of the top REITs in the market. NNN REIT primarily invests in high-quality retail properties with long-term, net leases, owning 3,511 properties in 49 states with a gross leasable area of approximately 35.8 million square feet and a weighted average remaining lease term of 10.1 years as of September 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.9%
Tags
dividends
-
Rhea-AI Summary
NNN REIT, Inc. (NYSE: NNN) announces that 98.3245% of the dividends paid to common shareholders in 2023 are classified for federal income tax purposes as a taxable distribution. The common dividend of $2.23 per share paid in 2023 marked the thirty-fourth consecutive annual dividend increase for NNN REIT. The company owns 3,511 properties in 49 states with a gross leasable area of approximately 35.8 million square feet and a weighted average remaining lease term of 10.1 years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
dividends
-
Rhea-AI Summary
NNN REIT, Inc. (NYSE: NNN) announced the retirement of Christopher P. Tessitore, Executive Vice President and General Counsel, effective January 1, 2024. Gina M. Steffens will succeed Mr. Tessitore as Executive Vice President and General Counsel, joining the company on November 30, 2023. Mr. Tessitore has served the company for over 18 years, and the CEO expressed gratitude for his contributions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.49%
Tags
none
Rhea-AI Summary
InvenTrust Properties Corp. (IVT) appoints Julian (Jay) E. Whitehurst as Chairperson of the Board of Directors, succeeding Paula Saban. Whitehurst's appointment comes as the company aims to expand its portfolio of grocery-anchored, Sun Belt assets and grow free cash flow and shareholder value. The former Chairperson, Saban, will continue to serve on the Board, overseeing Compensation and Nominating and Corporate Governance Committees.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.03%
Tags
management

FAQ

What does NNN REIT, Inc. specialize in?

NNN REIT, Inc. specializes in single-tenant retail properties, typically under long-term, net leases.

Where are NNN REIT's properties primarily located?

NNN REIT's properties are primarily located in the South and Southeast regions of the United States.

How many properties does NNN REIT own?

As of the first quarter of 2024, NNN REIT owns 3,546 properties across 49 states.

What is the company's Core FFO guidance for 2024?

NNN REIT's Core FFO guidance for 2024 ranges from $3.25 to $3.31 per share.

How long has NNN REIT been increasing its annual dividends?

NNN REIT has been increasing its annual dividends for over 34 consecutive years.

Who are some of NNN REIT's tenants?

NNN REIT's tenants include convenience stores, automotive services, fitness centers, theaters, restaurants, and banks.

What recent financial actions has NNN REIT undertaken?

NNN REIT secured a $500 million 10-year unsecured note offering and amended its unsecured bank credit facility to increase the borrowing capacity to $1.2 billion.

What is the gross leasable area of NNN REIT's property portfolio?

The gross leasable area of NNN REIT's property portfolio is approximately 36.1 million square feet.

How does NNN REIT generate revenue?

NNN REIT generates revenue by leasing properties to tenants, with the majority coming from convenience stores and restaurants.

Where can I find more information about NNN REIT, Inc.?

You can find more information about NNN REIT, Inc. on their official website at www.nnnreit.com.

NNN REIT, Inc.

NYSE:NNN

NNN Rankings

NNN Stock Data

8.13B
183.35M
0.81%
91.88%
2.34%
Other Financial Vehicles
Finance and Insurance
Link
United States of America
ORLANDO