National Retail Properties, INC.: insider trades · United States · SEC (Form 4)

About National Retail Properties, INC.

NNN REIT, Inc. (NYSE: NNN) is a United States-listed real estate investment trust focused on single-tenant, triple-net leased retail properties. Historically known as National Retail Properties, the company was founded in 1984 and adopted the NNN REIT name in 2023. Its headquarters are in Orlando, Florida, United States. For French-speaking investors, NNN is best understood as a defensive income-oriented REIT: it is built around recurring rent streams, relatively limited ongoing property-level capital needs, and a policy of returning a substantial portion of cash flow to shareholders through dividends. ([nnnreit.com](https://www.nnnreit.com/about-us/?utm_source=openai)) NNN’s business model centers on acquiring, owning, investing in, and developing high-quality properties that are leased primarily under long-term net leases. Under the triple-net structure, tenants generally bear most property operating expenses, which helps support margin stability and makes the business model more predictable than many traditional real estate structures. The company’s portfolio is heavily concentrated in U.S. retail real estate, but it is diversified across tenants, concepts, and geographies. As of year-end 2025, NNN reported owning 3,692 properties across all 50 states, the District of Columbia, and Puerto Rico, with roughly 39.6 million square feet of gross leasable area and a weighted average remaining lease term of about 10.2 years. Recent filings also indicated occupancy at approximately 98% or higher. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000751364/000119312526045617/nnn-20251231.htm?utm_source=openai)) From a competitive standpoint, NNN is one of the established names in the retail net-lease universe. Its investment case is anchored in portfolio quality, disciplined capital allocation, and dividend consistency. The company highlights 36 consecutive annual dividend increases, underscoring its long record as an income vehicle. In 2025, NNN closed $931.0 million of investments at an initial cash cap rate of 7.4% and sold 116 properties for $190.5 million, showing active portfolio recycling and continued acquisition discipline. In early 2026, the company raised its full-year guidance again, which suggests management remained constructive on acquisition opportunities and portfolio growth. ([nnnreit.com](https://www.nnnreit.com/nnn-reit-inc-announces-2025-annual-results-and-initial-2026-guidance/?utm_source=openai)) NNN’s property mix is tied to essential and service-oriented retail uses, which helps diversify tenant risk and supports rent durability through different economic cycles. The company’s latest disclosures and earnings releases point to a strategy that combines long-duration leases, conservative balance sheet management, and selective expansion. For investors in France, Belgium, or Switzerland, the name offers a U.S. listed NYSE exposure to commercial real estate income streams rather than a growth-oriented equity story. In short, NNN is a mature, cash-flow-driven REIT with a broad national footprint, a long operating history, and a well-established reputation in the United States net-lease market. ([sec.gov](https://www.sec.gov/Archives/edgar/data/751364/000095017025102429/nnn-20250630.htm?utm_source=openai))