NNN REIT Inc Stock Price, News & Analysis

National Retail Properties reported Q1 2021 results, revealing a revenue increase to $179.8 million from $175.1 million in Q1 2020. However, net earnings dropped to $52.1 million, down from $60.7 million year-over-year. AFFO per share rose to $0.76, reflecting a strong recovery in rent collections, with 97% of rent collected for the quarter. The company maintained a high occupancy rate of 98.3% and increased its Core FFO guidance for 2021 to $2.70-$2.75 per share. The financial position shows $311.2 million in cash and no debt drawn from its credit facility, reinforcing its acquisition strategy.

National Retail Properties (NYSE: NNN) will hold its Annual Meeting of stockholders on May 12, 2021, at 8:30 a.m., via webcast to minimize COVID-19 risks. Stockholders are encouraged to attend online instead of in-person. Access the meeting at https://agm.issuerdirect.com/NNN. Voting cannot be conducted through the webcast, so stockholders should vote using their proxy materials. As of December 31, 2020, NNN owned 3,143 properties across 48 states, boasting a gross leasable area of 32.5 million square feet.

The Board of Directors of National Retail Properties (NYSE: NNN) has declared a quarterly dividend of 52 cents per share, payable on May 14, 2021, to shareholders on record as of April 30, 2021. NNN boasts a strong track record, being among only three publicly traded REITs to have increased annual dividends for over 31 consecutive years. As of December 31, 2020, the company owned 3,143 properties across 48 states, with a gross leasable area of approximately 32.5 million square feet and a weighted average remaining lease term of 10.7 years.

National Retail Properties, Inc. (NYSE: NNN) is redeeming all outstanding 3.30% Notes due March 2023 on March 12, 2021. The redemption price includes 100% of the principal amount plus a Make-Whole Amount of $21,327,880.22 and accrued interest. As of March 2, 2021, approximately $350 million of the Notes remains outstanding. U.S. Bank National Association will be the paying agent. The company, which invests in retail properties on long-term leases, owned 3,143 properties across 48 states as of December 31, 2020.

National Retail Properties announced the pricing of its public offering of $450,000,000 in 3.500% senior unsecured notes due 2051. The notes were priced at 98.132% of the principal amount, yielding 3.602% to maturity. Interest will be paid semi-annually starting October 15, 2021. Proceeds will be used to redeem existing 3.30% notes due 2023, fund property acquisitions, and for general corporate purposes. The offering is expected to close around March 10, 2021.

The Board of Directors of National Retail Properties (NYSE: NNN) declared a cash dividend of 32.5 cents per share on its 5.20% Series F Cumulative Redeemable Preferred Stock. The dividend is payable on March 15, 2021, to shareholders of record as of February 26, 2021.

National Retail Properties primarily invests in high-quality retail properties under long-term net leases. As of December 31, 2020, the company owned 3,143 properties across 48 states, covering approximately 32.5 million square feet with a weighted average remaining lease term of 10.7 years.

National Retail Properties reported its operating results for Q4 and the year ended December 31, 2020. Total revenues declined to $163.3 million for the quarter, down from $173.4 million in 2019, and $660.7 million for the year, compared to $670.5 million in 2019. Net earnings for Q4 were $56.8 million, with a $0.33 earnings per share. The company maintained a high occupancy rate of 98.5% and increased its annual dividend by 2% to $2.07. They reported strong rent collections with approximately 89.7% collected for 2020. Management provided optimistic guidance for 2021 Core FFO between $2.55 and $2.62 per share.

The Board of Directors of National Retail Properties, Inc. (NYSE: NNN) declared a quarterly dividend of 52 cents per share, payable on February 16, 2021, to shareholders recorded on January 29, 2021. NNN has a strong dividend history, being one of only three publicly traded REITs to have increased annual dividends for over 31 consecutive years. As of September 30, 2020, the company owned 3,114 properties across 48 states, covering approximately 32.4 million square feet with a weighted average lease term of 10.7 years.

National Retail Properties (NYSE:NNN) announced that 80.1814% of common stock dividends and 100% of Preferred Series F dividends for 2020 are classified as taxable distributions for federal income tax purposes. The total common dividend paid was $2.07 per share, representing the thirty-first consecutive annual increase. The company owns 3,114 retail properties across 48 states, with a total gross leasable area of approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.