National Retail Properties Inc. (NYSE: NNN), an Orlando-headquartered real estate investment trust, is changing its name to NNN REIT Inc., effective May 1.
NNN REIT was formed in 1984 and invests primarily in high-quality retail properties subject generally to long-term, net leases. As of Dec. 31, 2022, the company owned 3,411 properties in 48 states.
The company has been listed on the New York Stock Exchange since January 1994 and its common stock will trade under the new name beginning on May 8; the company’s ticker symbol, CUSIP number and nnnreit.com website will remain unchanged.
“The name change does not signal any change in our investment strategy or balance sheet management. This simplified name is easier to remember and is distinctive in our space,” said CEO Steven Horn. “NNN has a strong track record of maintaining a disciplined approach of operating all aspects of our business with a multi-year view. We believe NNN REIT is the right identity for our company as we move forward and strive to provide long-term value at below average risk for our shareholders.”