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. reports recurring developments tied to its real estate investment trust portfolio of primarily retail properties leased under long-term net leases. Company news commonly covers net earnings, AFFO, annual base rent, portfolio occupancy, remaining lease term, property acquisitions and dispositions, and guidance for operating performance and investment activity.
Updates also include common dividend declarations, dividend tax classifications, at-the-market common stock issuance, unsecured debt financing, liquidity and debt-maturity disclosures, and board governance changes. The company’s property categories include convenience stores, automotive service properties, restaurants, theatres, entertainment venues, dealerships, and other retail-related assets.
National Retail Properties, Inc. (NYSE: NNN) reported its Q3 and nine-month results for 2020, showing revenues of $158.6 million, down from $168.6 million in Q3 2019. Net earnings decreased to $51.6 million, with FFO per share dropping to $0.62 from $0.70 a year prior. Despite challenges from COVID-19, the company collected approximately 90% of rents due for Q3 and 94% in October. Portfolio occupancy remained high at 98.4%. As of September 30, NNN owned 3,114 properties with a 10.7-year average lease term, maintaining a solid liquidity position with $294.9 million in cash.
National Retail Properties, Inc. (NYSE: NNN) has declared a quarterly dividend of 52 cents per share, payable on November 16, 2020. Shareholders on record as of October 30, 2020 will receive this payment. NNN is notable for being one of only three publicly traded REITs and part of 86 companies in the U.S. that have increased dividends for over 31 consecutive years. The company owns 3,117 properties across 48 states, with a total leasable area of approximately 32.5 million square feet.
National Retail Properties has appointed Stephen A. Horn, Jr. as Chief Operating Officer, while he continues as Executive Vice President. With 17 years at the company, Horn has overseen $4.5 billion in property acquisitions since 2014, enhancing the portfolio to over 3,100 properties. CEO Jay Whitehurst praised Horn’s extensive experience and commitment to the company’s strategy. The company focuses on high-quality retail properties with long-term net leases, managing 3,117 properties across 48 states as of June 30, 2020.
On August 14, 2020, National Retail Properties (NYSE: NNN) announced a cash dividend of 32.5 cents per share on its 5.20% Series F Cumulative Redeemable Preferred Stock. The dividend is payable on September 15, 2020, to shareholders of record as of August 31, 2020. As of June 30, 2020, the company owns 3,117 properties across 48 states, with a total gross leasable area of approximately 32.5 million square feet and a weighted average remaining lease term of 10.9 years.
National Retail Properties reported its second quarter 2020 results with revenues of $163.7 million, slightly down from $164.8 million in 2019. Net earnings fell to $41.8 million compared to $70.1 million last year. The company ended the quarter with a strong balance sheet, including $224.6 million in cash. Portfolio occupancy remained high at 98.7%. NNN collected approximately 69% of rents due for the quarter, with 21% of rents deferred. The firm raised $52.6 million from issuing shares and increased its common stock dividend, marking 31 consecutive years of increases.
The Board of Directors of National Retail Properties (NYSE: NNN) has declared a quarterly dividend of 52 cents per share, payable on August 14, 2020, to shareholders on record as of July 31, 2020. This marks the 31st consecutive annual dividend increase, positioning NNN as one of only three publicly traded REITs and 86 companies in the U.S. with such a record. CEO Jay Whitehurst highlighted this achievement as indicative of the company's effective long-term strategy in investing in high-quality retail properties across 48 states.