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Nnn REIT officer sells $42,510 in common stock

Published 10/12/2024, 21:12
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Michelle Lynn Miller, Executive Vice President and Chief Accounting & Technology Officer at NNN REIT, Inc. (NYSE:NNN), reported the sale of 1,000 shares of the company's common stock. The transaction, which took place on December 10, 2024, was executed at a price of $42.51 per share, amounting to a total sale value of $42,510. Following the sale, Miller holds 68,756 shares of NNN REIT.

In other recent news, National Retail Properties (NYSE:NNN) showcased a robust third-quarter performance, raising its acquisition guidance midpoint by 22% to $550 million and tightening its core FFO per share outlook for 2024 to $3.28 to $3.32. Despite facing credit issues with tenants Badcock Furniture and Frisch's, the company maintained a high occupancy rate of 99.3% across its 3,549 properties, invested $113 million in new properties, and sold nine properties for $20 million. The company's management is optimistic about the future, suggesting that the financial results for 2025 could surpass current Wall Street expectations. This outlook is based on anticipated resolutions with Frisch's and Badcock, which are expected to contribute positively to the company's performance.

Stifel has reaffirmed its Buy rating on National Retail Properties, maintaining a steady price target of $48.25, while Baird financial analysts adjusted their price target on the company's shares to $45.00 from $44.00, maintaining a Neutral stance. These recent developments indicate National Retail Properties' continued focus on prudent risk management and capital allocation. The company's financial position remains strong, with a significant cash balance and no debt maturing until late 2025.

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