National Retail Properties (NNN)

NNN REIT, INC. • CCMH V, LLC • CNL Commercial Mortgage Funding, Inc. • NNN REIT, LP • Net Lease Funding, Inc. • Net Lease Realty I, Inc. • NNN Athletic I LLC • NNN Brokerage Services, Inc. • NNN CA Auto Svc LLC • NNN GP Corp. ...

IRS number

561431377

NNN stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$44.00

Low target

$42.00

High target

$47.00

Latest filings (excl ownership)

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11 Feb 25

Results of Operations and Financial Condition

11 Feb 25

8-K

Departure of Directors or Certain Officers

10 Jan 25

8-K

Departure of Directors or Certain Officers

31 Oct 24

Results of Operations and Financial Condition

31 Oct 24

424B5

Prospectus supplement for primary offering

1 Aug 24

Results of Operations and Financial Condition

1 Aug 24

8-K

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

29 May 24

Transcripts

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NNN

Earnings call transcript

2024 Q4

11 Feb 25

NNN

Earnings call transcript

2024 Q3

31 Oct 24

NNN

Earnings call transcript

2024 Q2

1 Aug 24

NNN

Earnings call transcript

2024 Q1

1 May 24

NNN

Earnings call transcript

2023 Q4

8 Feb 24

NNN

Earnings call transcript

2023 Q3

1 Nov 23

NNN

Earnings call transcript

2023 Q2

2 Aug 23

NNN

Earnings call transcript

2023 Q2

2 Aug 23

NNN

Earnings call transcript

2023 Q1

2 May 23

NNN

Earnings call transcript

2022 Q4

9 Feb 23

Latest ownership filings

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Kamau Omari Witherspoon

Financial summary

Financial statements Chart NNN financial data

Quarter (USD)	Dec 24	Sep 24	Jun 24	Mar 24
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 24	Dec 23	Dec 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	9.06 mm	9.06 mm	9.06 mm	9.06 mm	9.06 mm	9.06 mm
Cash burn (monthly)	56.48 mm	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	133.13 mm	n/a	n/a	n/a	n/a	n/a
Cash remaining	-124.07 mm	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	-2.2	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2024

NNN institutional ownership history Ownership history

91.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	483	494	-2.2%
Opened positions	62	75	-17.3%
Closed positions	73	37	+97.3%
Increased positions	187	167	+12.0%
Reduced positions	165	173	-4.6%

13F shares	Current	Prev Q	Change
Total value	6.79 tn	7.74 tn	-12.2%
Total shares	171.71 mm	165.00 mm	+4.1%
Total puts	105.50 k	39.00 k	+170.5%
Total calls	140.30 k	337.50 k	-58.4%
Total put/call ratio	0.8	0.1	+550.7%

Largest owners	Shares	Value	Change
Vanguard	26.36 mm	$1.08 tn	+1.0%
BlackRock	22.63 mm	$924.45 bn	+3.9%
FMR	15.87 mm	$648.33 bn	+22.5%
STT State Street	12.07 mm	$493.04 bn	+5.5%
Victory Capital Management	11.70 mm	$477.89 bn	-4.8%
PFG Principal Financial	5.31 mm	$216.90 bn	-14.8%
Geode Capital Management	3.54 mm	$144.53 bn	+2.8%
Massachusetts Financial Services	3.29 mm	$134.52 bn	-1.3%
Northwood Liquid Management	3.00 mm	$122.70 bn	+9.6%
Dimensional Fund Advisors	2.79 mm	$113.78 bn	+0.7%

Largest transactions	Shares	Bought/sold	Change
FMR	15.87 mm	+2.91 mm	+22.5%
Norges Bank	2.30 mm	+2.30 mm	NEW
Mondrian Investment Partners	1.84 mm	+1.84 mm	NEW
RY Royal Bank of Canada	624.19 k	-1.47 mm	-70.2%
Citadel Advisors	1.30 mm	+1.30 mm	+248152.5%
PRU Prudential Financial	527.41 k	-1.05 mm	-66.5%
PFG Principal Financial	5.31 mm	-919.30 k	-14.8%
BlackRock	22.63 mm	+853.81 k	+3.9%
Balyasny Asset Management	0.00	-723.77 k	EXIT
APG Asset Management US	0.00	-717.00 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

NNN insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
17 Feb 25	Vincent H. Chao	Common Stock	Grant	Acquire A	No	No	40.44	41,781	1.69 mm	60,734
17 Feb 25	Vincent H. Chao	Common Stock	Grant	Acquire A	No	No	40.44	8,953	362.06 k	18,953
17 Feb 25	Michelle Lynn Miller	Common Stock	Sale back to company	Dispose D	No	No	0	1,186	0.00	91,750
17 Feb 25	Michelle Lynn Miller	Common Stock	Grant	Acquire A	No	No	40.44	19,913	805.28 k	92,936
17 Feb 25	Michelle Lynn Miller	Common Stock	Grant	Acquire A	No	No	40.44	4,267	172.56 k	73,023
17 Feb 25	Gina M. Steffens	Common Stock	Grant	Acquire A	No	No	40.44	22,402	905.94 k	59,643
17 Feb 25	Gina M. Steffens	Common Stock	Grant	Acquire A	No	No	40.44	4,800	194.11 k	37,241
17 Feb 25	Stephen A Horn JR	Common Stock	Sale back to company	Dispose D	No	No	0	11,004	0.00	767,464
17 Feb 25	Stephen A Horn JR	Common Stock	Grant	Acquire A	No	No	40.44	182,014	7.36 mm	778,468
17 Feb 25	Stephen A Horn JR	Common Stock	Grant	Acquire A	No	No	40.44	39,003	1.58 mm	596,454