NNN REIT has recently released its 10-Q report, revealing that as of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years. NNN is one of only three publicly traded REITs to have increased annual dividends for 34 or more consecutive years.
Management's Discussion and Analysis of Financial Condition and Results of Operations in the 10-Q report outlines several risks and uncertainties that could impact NNN's actual results, including changes in financial and economic conditions, loss of rent from tenants, concentration of rent from specific industry classifications and geographic locations, and cybersecurity risks.
The report also includes an overview of NNN's assets, which are primarily real estate assets leased to retail tenants under long-term net leases. NNN evaluates the creditworthiness of its significant tenants and maintains diversification by tenant, line of trade, and geography.
The 10-Q report provides a detailed analysis of NNN's property portfolio, including the number of properties owned, total gross leasable area, and the diversification of the property portfolio based on the top 20 lines of trade. It also summarizes property acquisitions and dispositions, along with an analysis of revenues, including rental revenues, real estate expense reimbursement from tenants, and interest and other income from real estate transactions. Today the company's shares have moved 1.5% to a price of $45.56. If you want to know more, read the company's complete 10-Q report here.
