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Stephen A. Horn Jr., the President and CEO of NNN REIT, Inc. (NYSE:NNN), has sold 55,356 shares of the company’s common stock, according to a recent SEC filing. The transaction, which took place on March 17, 2025, was executed at a price of $42.46 per share, totaling approximately $2.35 million. The stock, which currently yields an attractive 5.48% dividend and has raised its dividend for 35 consecutive years, is currently trading near its Fair Value according to InvestingPro analysis.
Following this sale, Horn retains ownership of 712,108 shares of NNN REIT. The transaction was conducted directly by Horn, who is not a director or a ten percent owner of the company. NNN REIT, based in Orlando, Florida, operates as a real estate investment trust with a market capitalization of $7.9 billion and maintains strong financial health, earning a "GREAT" rating from InvestingPro’s comprehensive analysis framework. Discover 6 more exclusive ProTips and detailed valuation metrics with an InvestingPro subscription.
In other recent news, NNN REIT Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.52, exceeding the forecasted $0.484. The company’s revenue also outperformed projections, reaching $218.35 million against the anticipated $216.78 million. Meanwhile, National Retail Properties reported a fourth-quarter Adjusted Funds From Operations (AFFO) of $0.82 per share, aligning with both Stifel’s prediction and the consensus estimate. Stifel analysts adjusted their outlook on National Retail Properties by slightly decreasing the price target to $48.00 from $48.25, while maintaining a Buy rating. In contrast, B.Riley analysts lowered their price target for National Retail Properties to $43.00 from $46.50, maintaining a Neutral rating.
NNN REIT has also announced changes to its corporate governance structure, allowing more flexibility in board committee compositions. On the operational front, National Retail Properties successfully sold six former Badcock properties for $21.8 million and re-leased several previously defaulted properties, with management optimistic about rent recoveries. Additionally, National Retail Properties announced that Kevin B. Habicht, the company’s long-standing CFO, will retire, with Vincent H. Chao appointed as his successor. These developments reflect the companies’ ongoing strategic adjustments and market activities.
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