NNN REIT Inc Stock Price, News & Analysis

NNN REIT (NYSE: NNN) has announced the pricing of $500 million in senior unsecured notes due 2031. The notes, priced at 99.182% of principal value, will carry a 4.600% interest rate with a yield to maturity of 4.766%. Interest payments will be made semi-annually starting February 15, 2026.

The offering is expected to close around July 1, 2025. The company plans to use the proceeds to repay outstanding credit facility debt, fund future property acquisitions, and for general corporate purposes. Multiple financial institutions, including BofA Securities, Wells Fargo Securities, and PNC Capital Markets, are serving as joint book-running managers for the offering.

NNN REIT reported strong Q1 2025 results with net earnings of $0.51 per diluted share. The company achieved 3.6% growth in Core FFO and AFFO per share to $0.86 and $0.87 respectively. Key highlights include: $232.4 million in investments at a 7.4% initial cash cap rate, maintaining a high occupancy rate of 97.7%, and a quarterly dividend of $0.58 (5.4% annualized yield). The REIT closed 82 property acquisitions and maintained strong balance sheet metrics with $1.1 billion in available liquidity. NNN maintained its 2025 guidance, projecting Core FFO of $3.33-$3.38 per share and acquisition volume of $500-$600 million. The company successfully managed property challenges, re-leasing 31 of 64 recovered properties from a mid-western restaurant operator and addressing 12 of 35 properties from a bankrupt furniture retailer.

NNN REIT (NYSE: NNN) has declared a quarterly dividend of $0.58 per share, as announced by its Board of Directors on April 15, 2025. The dividend will be paid on May 15, 2025 to shareholders of record as of April 30, 2025.

Notably, NNN stands among only three publicly traded REITs that have maintained a track record of increasing their annual dividend for 35 or more consecutive years.

NNN REIT has scheduled its first quarter 2025 earnings release for Thursday, May 1, 2025, before market opening. The company will host a conference call at 10:30 a.m. ET on the same day to discuss financial and operating results.

Investors can access the conference call through multiple channels: via webcast on the company's website (www.nnnreit.com), or by phone using the dial-in numbers 888-506-0062 (US) or 973-528-0011 (international) with participant code 696567. A replay will be available through May 8, 2025, by calling 877-481-4010 (US) or 919-882-2331 (international) with code 52285.

NNN REIT has reported its 2024 annual results and 2025 guidance. The company achieved notable financial growth with FFO per share increasing 2.5%, Core FFO up 1.8%, and AFFO rising 2.8% over 2023. Key highlights include:

The REIT completed $565.4 million in property investments, acquiring 75 properties with a 7.7% initial cash cap rate. They maintained a high occupancy rate of 98.5% and marked their 35th consecutive year of dividend increases. The company sold 41 properties for $148.7 million, generating $42.3 million in gains.

For 2025, NNN REIT projects Core FFO guidance of $3.33 to $3.38 per share and AFFO of $3.39 to $3.44 per share. The company enters 2025 with strong liquidity, including a fully available $1.2 billion credit facility and approximately $200 million in free cash flow.

NNN REIT has announced the tax classification of its 2024 dividends paid to common shareholders. 99.8471% of the dividends are classified as taxable distributions. The total dividend paid was $2.29 per share, with $2.286498 classified as ordinary dividends and $0.003502 as non-taxable distributions. The ordinary dividends qualify for the 20% qualified business income deduction under Section 199A.

This dividend payment marks the thirty-fifth consecutive annual dividend increase for NNN REIT. As of September 30, 2024, the company owned 3,549 properties across 49 states, comprising approximately 36.6 million square feet of gross leasable area, with a weighted average remaining lease term of 10.0 years.

NNN REIT (NYSE: NNN) has declared a quarterly dividend of 58 cents per share, payable on February 14, 2025, to shareholders of record as of January 31, 2025. The company distinguishes itself as one of only three publicly traded REITs that have increased their annual dividend for 35 or more consecutive years.

As of September 30, 2024, NNN REIT's portfolio comprises 3,549 properties across 49 states, with approximately 36.6 million square feet of gross leasable area. The company's properties maintain a weighted average remaining lease term of 10.0 years, primarily focusing on high-quality retail properties under long-term, net leases.

NNN REIT (NYSE: NNN) announced that Kevin B. Habicht will retire as Executive Vice President, Chief Financial Officer, Assistant Secretary, and Treasurer effective March 31, 2025. Vincent H. Chao will succeed him, joining as Executive Vice President on January 9, 2025, and assuming the CFO role on April 1, 2025.

Habicht has served the company for 32 years, holding the CFO position since December 1993 and serving as a board member since June 2000. His successor, Chao, brings extensive experience from his previous role as Managing Director, Finance at RPT Realty and as Head of U.S. REIT Research at Deutsche Bank Securities.

NNN REIT currently owns 3,549 properties across 49 states, with approximately 36.6 million square feet of gross leasable area and a weighted average remaining lease term of 10.0 years. The company is notable for being one of only three publicly traded REITs to have increased annual dividends for 35 or more consecutive years.

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.