NNN REIT (NYSE: NNN) is a real estate investment trust that owns a diversified portfolio of freestanding retail properties across the United States. Founded in 1984 as Golden Corral Realty Corp., the company originally served as a vehicle for Golden Corral restaurant chain employees to invest in real estate. In 1993, the company split from Golden Corral and changed its name to Commercial Net Lease Realty, moving its listing to the New York Stock Exchange. The company adopted the name National Retail Properties in May 2006, and in 2023 rebranded as NNN REIT. [nnnreit.com], [en.wikipedia.org] [en.wikipedia.org]
As of the latest reporting period, NNN REIT owns 3,697 stores across all 50 states with a total gross leasable area of approximately 39.2 million square feet. The portfolio maintains a 97.5% occupancy rate, with properties leased to approximately 400 tenants across 37 different retail categories. The REIT's investment strategy centers on acquiring high-quality retail properties subject to long-term net leases with established national and regional tenants, minimizing ongoing capital expenditures. NNN REIT has increased its dividend for 36 consecutive years, reflecting financial discipline and steady execution. Stephen A. Horn Jr. has served as President and CEO since April 2022, succeeding Julian E. Whitehurst.
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