Highest-materiality recent filing
Exercised $200M incremental term loan option, increasing total term loan facility to $500M.
Shareholders elect all 7 directors, approve say-on-pay, ratify EY at NNN REIT annual meeting
All seven director nominees elected; highest vote count 155.8M for Elizabeth Gulacsy, lowest 153.5M for David Fick.
NNN REIT Q1 AFFO $0.87/sh; raises 2026 AFFO guidance to $3.53-$3.59
Q1 net earnings $0.50/diluted share; AFFO $0.87/diluted share, flat versus prior year.
NNN REIT Board Chair Steven D. Cosler Retires; Edward J. Fritsch Appointed as Successor
Steven D. Cosler retired as Board Chair effective Feb 18, 2026; served since May 2021.
NNN REIT 2025 AFFO $3.44 (+2.7% YoY); guides 2026 AFFO $3.52-$3.58
Net earnings $2.07/diluted share vs $2.15 in 2024; Core FFO $3.41, AFFO $3.44 per share.
NNN REIT secures $300M term loan facility, fixes SOFR at 3.22% on $200M swap
Entered $300M delayed draw term loan, expandable to $500M; maturity Feb 2029 with two 1-year extensions.
NNN REIT posts Q3 2025 Core FFO $0.85, AFFO $0.86; raises full-year guidance
Net earnings $0.51 per diluted share, down from $0.53 in Q3 2024.
Non-corporate shareholders' 20% deduction on ordinary dividends made permanent, no longer expiring end of 2025.
NNN REIT Q2 Core FFO $0.84, ups dividend 3.4%, raises 2025 guidance
Net earnings $0.54/diluted share; Core FFO $0.84, AFFO $0.85 (up 1.2% YoY).
NNN REIT promotes Joshua P. Lewis to EVP, Chief Investment Officer effective Aug 1, 2025
Lewis promoted to EVP, Chief Investment Officer; base salary set at $375,000 per year.
NNN REIT closes $500M offering of 4.600% notes due 2031; net proceeds $491.7M
Issued $500M aggregate principal of 4.600% senior unsecured notes due February 15, 2031.
NNN REIT annual meeting results: all 8 director nominees elected, say-on-pay approved, EY ratified
Eight director nominees all elected with at least 153M votes for; broker non-votes of 13.4M on each nominee.
NNN REIT Q1 net earnings $0.51 per share; Core FFO up 3.6% to $0.86
Net earnings $96.5M ($0.51/diluted share) vs $94.4M ($0.52) a year ago.
NNN REIT amends bylaws to allow one-director committees, drop independence qualifications
Board approved Sixth Amendment to Third Amended and Restated Bylaws on March 13, 2025.
NNN REIT reports 2024 annual results with FFO per share up 2.5% and provides 2025 guidance
FFO per share for full year 2024 was $3.32, a 2.5% increase over 2023.
NNN REIT CFO Kevin Habicht to retire Mar 31, 2025; Vincent Chao appointed successor
Kevin Habicht to retire as EVP/CFO effective March 31, 2025; will provide up to 20 months consulting at $45k/month.
Employment letter replaces 2018 agreement; Miller continues as EVP, Chief Accounting Officer and Chief Technology Officer.
NNN REIT Q3 FFO per share up 3.7% to $0.84; narrows 2024 Core FFO guidance to $3.28-$3.32
Q3 revenue $218.6M (+6.5% YoY); net earnings $0.53/share vs $0.59 prior.
NNN REIT Q2 FFO per share up 3.8% YoY; raises 2024 Core FFO guidance; dividend increased 3%
Q2 FFO per share $0.83 vs $0.80 (+3.8%); AFFO per share $0.84 (+5.0% YoY).
NNN REIT issues $500M of 5.500% senior notes due 2034
Issued $500M aggregate principal of 5.500% notes due June 15, 2034; net proceeds of $489.4M after discounts.
All nine director nominees elected; highest votes for Beall (153.5M) and Gulacsy (153.8M); lowest for Habicht (144.7M).
Q1 2024 FFO per share up 3.8% YoY; AFFO per share up 2.4%
Revenues $215.4M, net earnings $94.4M ($0.52/shr) vs $90.2M ($0.50) a year ago.
NNN REIT amends credit facility: ups size to $1.2B, extends maturity to 2028
Borrowing capacity increased to $1.2 billion from $1.1 billion.
NNN REIT reports Q4 Core FFO $0.85, raises dividend to $2.23 for 34th consecutive year
Q4 2023 Core FFO $0.85/share ($0.82 excl one-time accrual); full-year Core FFO $3.26, up 3.8% YoY.
NNN REIT EVP, General Counsel Chris Tessitore to retire Jan 1, 2024; consulting agreement in place
Chris Tessitore steps down as General Counsel and Secretary on Nov 30, 2023, remains EVP until Jan 1, 2024 retirement.
NNN REIT Q3 FFO per share $0.81 (+2.5% YoY); raises 2023 Core FFO guidance to $3.19-$3.23
Revenue $205.1M (+6.0% YoY); net earnings $106.8M ($0.59 per share).
NNN REIT closes $500M offering of 5.600% notes due 2033
Aggregate principal $500M, 5.600% interest, matures October 15, 2033.
NNN REIT enters ATM equity offering for up to 17.5M shares, terminates prior program
Equity distribution agreement allows sale of up to 17,500,000 common shares at-the-market.
NNN REIT Q2 FFO/share up 3.9% YoY; raises 2023 Core FFO guidance to $3.17-$3.22
Q2 Core FFO per share $0.80 vs $0.79 prior year (+1.3%); AFFO per share $0.80.
NNN REIT annual meeting approves director slate, say-on-pay, and incentive plan amendment
All nine director nominees elected; votes for ranged from 141M to 151M.
NNN REIT Q1 FFO $0.80/share (+6.7% YoY), occupancy 99.4%
Revenue $204.1M, net earnings $90.2M ($0.50 EPS), vs $190.3M and $81.4M ($0.46) in Q1 2022.
National Retail Properties to change name to NNN REIT, Inc. on May 1
Board unanimously approved name change to NNN REIT, Inc., effective May 1, 2023.
NNN reports record 2022 Core FFO growth of 9.8%; raises dividend for 33rd consecutive year
Full-year Core FFO per share $3.14, up 9.8% YoY; AFFO per share $3.21.
National Retail Properties amends credit agreement to replace LIBOR with SOFR as base rate
December 16, 2022: First Amendment to Second Amended and Restated Credit Agreement executed with Wells Fargo as Administrative Agent and syndicate of lenders.
NNN Q3 FFO $0.79; raises 2022 Core FFO guidance to $3.11-$3.15
Q3 revenue $193.5M, net earnings $88.4M ($0.50 diluted EPS).
NNN appoints Elizabeth Castro Gulacsy, former SeaWorld CFO, to Board
Elizabeth Castro Gulacsy appointed to NNN Board effective August 17, 2022.
National Retail Properties Q2 Core FFO rises to $0.79/share; raises 2022 guidance
Q2 2022 revenues $190.8M, net earnings $74.2M ($0.42 EPS); Core FFO $0.79/share vs $0.70 YoY.
Eight directors elected with at least 138.9M votes for each; highest withhold 9.4M for Kevin B. Habicht.
National Retail Properties Q1 Core FFO $0.77 beats; raises 2022 guidance to $3.01-$3.08
Q1 Core FFO $0.77 per share (up from $0.69 YoY); AFFO $0.79 per share (up from $0.76).
National Retail Properties appoints Stephen Horn to Board, ahead of CEO transition on April 29, 2022
Board expanded from 9 to 10 directors; Horn appointed effective Feb 17, 2022.
NNN reports record 2021 results; raises 2022 Core FFO guidance to $2.93-$3.00
Q4 revenue $187.3M, net earnings $0.37/sh; full-year revenue $726.4M, net earnings $1.51/sh.
CEO Jay Whitehurst to retire Apr 28; Steve Horn named successor effective Apr 29
Whitehurst retires as President and CEO effective April 28, 2022; will serve as consultant for 20 months at $60k/month.
National Retail Properties appoints Kamau Witherspoon to Board of Directors
Board expanded from 8 to 9 directors; appointment effective January 1, 2022.
Effective on April 1, 2025, Mr. Chao will assume the positions of Chief Financial Officer, Assistant Secretary and Treasurer
the Board has appointed Vincent H. Chao, age 50, as Mr. Habicht’s successor. As of January 9, 2025 (such date, the “Appointment Effective Date”), Mr. Chao will be appointed as an Executive Vice President.
On November 21, 2023, NNN REIT, Inc. (the “Company”) announced that Chris Tessitore, the Company’s Executive Vice President, General Counsel and Secretary (the “EVP and GC”) of the Company will retire from employment with the Company effective as of January 1, 2024
On August 16, 2022, the Board of Directors (the “Board”) of National Retail Properties, Inc. (the “Company”) appointed, pursuant to the recommendation of the Governance and Nominating Committee, Elizabeth Castro Gulacsy to the Board of the Company, effective August 17, 2022.
increased the size of the Board from nine (9) to ten (10) directors and appointed Stephen A. (“Steve”) Horn, Jr. to the Board of the Company, effective February 17, 2022.
the Board has appointed Steve Horn, age 50, the Company’s current Executive Vice President and Chief Operating Officer, as Mr. Whitehurst’s successor effective as of April 29, 2022
Jay Whitehurst, the Company’s President and Chief Executive Officer (the “President and CEO”) and a member of the Board of Directors (the “Board”) of the Company, and the Board mutually agreed that Mr. Whitehurst will retire from employment with the Company and as a member of the Board effective as of April 28, 2022
increased the size of the Board from eight (8) to nine (9) directors and appointed Kamau Witherspoon to the Board of the Company, effective January 1, 2022.
Max materiality 0.90 · Median 0.60 · Most common event earnings