National Retail Properties, Inc.

Symbol: NNN
CIK: 751364
Exchange: NYSE
Founded: 1984 (35 years)
HQ: Orlando, FL, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail

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See NNN on SEC.gov

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 9.0   Dividend Section Rating

Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.5
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 4.5
10 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 6.9
10 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 5.8
9 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 7.0
9.0 Overall Dividend Section Rating: The REIT’s total dividend score from the compilation of the below dividend analysis. 6.8

 8.3   Leverage Section Rating

Rating Leverage Section Avg. Rating
8 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.6
8 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 7.3
8 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 8.0
8 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.0
9 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 6.3
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.1
8.3 Overall Leverage Section Rating: The REIT’s total Debt Leverage score from the compilation of the above Debt analysis. 7.5

 7.8   Asset & Revenue Section Rating

Rating Asset & Revenue Section Avg. Rating
7 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 6.9
7 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.7
8 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.9
9 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
7.8 Overall Asset & Revenue Section Rating: The REIT’s total Asset, Revenues, and Administrative expenses score from the compilation of the above analysis. 7.2

 8.4   Overall REITRating™ Score


REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Stock Chart

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Hightlights of Trading Day August 19, 2019


Open Price: $55.04
Closing Price: $55.27
Price Change: 0.39 (0.711%)
Lowest Price: $54.69
Highest Price: $55.35

52-Week Low: $42.97
52-Week High: $55.97
52-Week Change: 20.39%

5 Day Price Change: -0.40%
1 Month Price Change: 6.17%
3 Month Price Change: 4.47%
6 Month Price Change: 5.01%
YTD Price Change: 16.05%
1 Year Price Change: 19.54%
2 Year Price Change: 36.49%
5 Year Price Change: 52.90%

Dividend of Trading Day August 19, 2019


Dividend Yield: 3.727%*
Annualized Dividend: $2.06*
Dividend Yield (TTM):
Annualized Dividend (TTM): $2
Ex Dividend Date: 2019-07-30
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Funds From Operations (FFO)


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Key Stats of Trading Day August 19, 2019


Total Cash: $114,267,000
Current Debt: $652,000
Revenue: $616,375,000
Gross Profit: $419,500,000
Total Revenue: $616,375,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $556,015,000
Revenue Per Share: $4
Revenue Per Employee: $9,064,338
Employee: 68
Debt to Equity Ratio (D/E): 0.69
Profit Margin: 0.47%
Enterprise Value (EV): $11,664,992,400
Enterprise Value to Revenue (EV/R): 18.93
Price to Sales (P/S): 14.48
Price to Book (P/B): 2.16
Peg Ratio: 5.13
P/E Ratio: 38.77
P/E High: 37.07
P/E Low: 28.46
Forward P/E Ratio: 32.86
Market Capitalization: $9,037,418,780
Beta: 0.34
Latest Volume: 659,441.00
Avg. Total Volume: 964,147
Avg. 10 Volume: 912,039.10
Avg. 30 Volume: 964,147.13
TTM EPS: 1.43
TTM Dividend Rate: 2.00
Shares Outstanding: 163,514,000
Float: 162,324,926.19
50-Day Moving Avg.: 53.80
200-Day Moving Avg.: 52.05

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Properties Owned by NNN


Properties owned:
2846
Types:
37
States:
48
Countries:
1
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
NNN Sample Property
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Dividend History


Below are the most recent cash dividends paid by NNN, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Current Cash 2,209,000 80,521,000 114,267,000 607,672,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 0 0 0 0
Property, Plant & Equipment Net 7,855,000 7,557,000 0 0
Goodwill 0 0 0 0
Intangible Assets 59,355,000 54,266,000 50,010,000 50,431,000
Other Assets 63,225,000 83,768,000 73,538,000 65,596,000
Net Tangible Assets 4,091,090,000 4,027,508,000 4,034,204,000 3,957,267,000
Total Assets 7,252,801,000 7,136,988,000 7,103,438,000 7,358,723,000
Accounts Payable 0 0 0 0
Liabilities (Other) 103,860,000 121,926,000 97,438,000 133,343,000
Current Liabilities (Other) 0 0 0 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 329,000 426,000 652,000 158,000
Long-term Debt 2,926,161,000 2,861,749,000 2,850,743,000 3,148,002,000
Total Liabilities 3,030,350,000 2,984,101,000 2,948,833,000 3,281,503,000
Minority Interest 413,000 10,000 10,000 10,000
Common Stock 1,636,000 1,620,000 1,616,000 1,591,000
Retained Earnings -443,822,000 -432,845,000 -424,225,000 -372,877,000
Treasury Stock 0 0 0 0
Capital Surplus 4,042,318,000 3,957,835,000 3,950,055,000 3,823,672,000
Shareholder Equity 4,222,449,000 4,152,522,000 4,154,250,000 4,076,874,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Total Revenue 164,294,000 163,161,000 156,605,000 154,587,000
Cost of Revenue 54,541,000 55,341,000 51,478,000 48,019,000
Gross Profit 109,753,000 107,820,000 105,127,000 106,568,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 62,019,000 62,618,000 60,015,000 56,784,000
Operating Income 102,275,000 100,543,000 96,590,000 97,803,000
Income Expense Net (Other) -23,184,000 -20,510,000 -60,018,000 -30,109,000
EBIT 102,275,000 100,543,000 96,590,000 97,803,000
Interest Income 29,486,000 29,634,000 32,857,000 26,669,000
Pretax Income 79,091,000 80,033,000 36,572,000 67,694,000
Income Tax 0 0 0 0
Minority Interest 413,000 10,000 10,000 10,000
Net Income 78,544,000 79,907,000 36,426,000 67,537,000
Net Income Basic 69,963,000 71,325,000 27,844,000 58,955,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Net Income 78,544,000 79,907,000 36,426,000 67,537,000
Depreciation 46,241,000 46,180,000 44,118,000 42,478,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change -78,312,000 -33,746,000 -493,405,000 605,787,000
Cash Flow 91,839,000 143,164,000 106,182,000 137,084,000
Capital Expenditures -266,583,000 -112,130,000 -341,853,000 -90,049,000
Investments 42,283,000 17,081,000 26,885,000 38,292,000
Investing Activity (Other) 0 0 -443,000 -433,000
Total Investing Cash Flows -224,640,000 -92,858,000 -315,411,000 -52,312,000
Dividends Paid -89,655,000 -89,148,000 -87,909,000 -86,835,000
Net Borrowings 62,945,000 -141,000 -301,788,000 520,685,000
Cash Flow Financing 54,489,000 -84,052,000 -284,176,000 521,015,000
Financing Cash Flows (Other) -776,000 0 -18,240,000 0
Exchange Rate Effect 0 0 0 0

About National Retail Properties, Inc.


National Retail Properties, Inc. is a real estate investment trust traded on the New York Stock Exchange under the ticker symbol “NNN.” We own a diversified portfolio of freestanding retail stores across the United States. For more than two decades, NNN has generated consistent stockholder returns supported by its strong dividend yield and 27 consecutive years of increased annual dividends. We have come to be known as good stewards, pragmatic planners, and discerning executives with a consistent, strong track record over the short-term, mid-term and long-term.

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