National Retail Properties, Inc. | REIT Profile

Symbol: NNN
CIK: 751364
Exchange: NYSE
Founded: 1984 (38 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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Overall Score: 8.4

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day January 14, 2022


Open Price: $47.09
Closing Price: $46.84
Price Change: -0.49 (-1.035%)
Lowest Price: $46.41
Highest Price: $47.09

52-Week Low: $36.57
52-Week High: $49.37
52-Week Change: 26.92%

5 Day Price Change: -1.70%
1 Month Price Change: 2.87%
3 Month Price Change: 4.46%
6 Month Price Change: 2.04%
YTD Price Change: -1.54%
1 Year Price Change: 27.64%
2 Year Price Change: -2.87%
5 Year Price Change: 32.24%

Dividend of Trading Day January 14, 2022


Dividend Yield: 4.526%*
Annualized Dividend: $2.12*
Dividend Yield (TTM): 4.364%
Annualized Dividend (TTM): $2.0654
Ex-Dividend Date: 2021-10-28
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. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day January 14, 2022


Total Cash: N/A
Current Debt: $3,798,442,000
Revenue: $702,430,000
Gross Profit: $702,430,000
Total Revenue: $702,430,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $496,338,000
Revenue Per Share: $4
Revenue Per Employee: $10,034,714
Employee: 69
Debt to Equity Ratio (D/E): 1.91
Profit Margin: 0.36%
Enterprise Value (EV): $8,311,947,498
Enterprise Value to Revenue (EV/R): 11.83
Price to Sales (P/S): 11.83
Price to Book (P/B): 2.12
Price/Earnings-to-Growth (PEG) Ratio: 1.73
P/E Ratio: 31.86
P/E High: 6.37
P/E Low: 5.07
Forward P/E Ratio: 26.91
Market Capitalization: $8,225,895,221
Beta: 0.79
Latest Volume: 864,639
Avg. Total Volume: 903,698
Avg. 10-Day Volume: 1,039,911
Avg. 30-Day Volume: 903,698
TTM EPS: 1.47
Shares Outstanding: 175,616,892
Float: N/A
50-Day Moving Avg.: $46.31
200-Day Moving Avg.: $46.14

Latest REIT Community Comments on #NNN


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Properties Owned by NNN


Properties Based on REIT's Official Presentation

Properties Types States Countries
3,043 1 48 1

Please visit REIT’s official webpage for the most up-to-date property list.

NNN Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $55.60 per share you would have been able to buy 17 shares of NNN on 2021-01-16 costing $945.20 @ $55.60 per share you would have been able to buy 8 shares of NNN on 2021-01-16 costing $444.80 @ $55.60 per share you would have been able to buy 4 shares of NNN on 2021-01-16 costing $222.40 @ $55.60 per share you would have been able to buy 1 shares of NNN on 2021-01-16 costing $55.60 @ $55.60 per share you would have been able to buy 0 shares of NNN on 2021-01-16 costing $0.00
Current worth On 2022-01-14 these 17 shares would be worth $796.28 @ $46.84 On 2022-01-14 these 8 shares would be worth $374.72 @ $46.84 On 2022-01-14 these 4 shares would be worth $187.36 @ $46.84 On 2022-01-14 these 1 shares would be worth $46.84 @ $46.84 On 2022-01-14 these 0 shares would be worth $0.00 @ $46.84
Dividends earned $26.69 in dividends would have been earned since 2021-01-16 with 17 shares. $13 in dividends would have been earned since 2021-01-16 with 8 shares. $6.28 in dividends would have been earned since 2021-01-16 with 4 shares. $1.57 in dividends would have been earned since 2021-01-16 with 1 shares. $0.00 in dividends would have been earned since 2021-01-16 with 8 shares.
Net (gain / loss)* -122.23 USD -57.52 USD -28.76 USD -7.19 USD 0.00 USD
ROI** -12.93% -12.93% -12.93% -12.93% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by NNN. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
NNN 2021-07-29 0.530 1.92% 2021-07-15 2021-07-30 2021-08-16
NNN 2021-04-29 0.520 --- 2021-04-15 2021-04-30 2021-05-14
NNN 2021-01-28 0.520 --- 2021-01-15 2021-01-29 2021-02-16
NNN 2020-10-29 0.520 --- 2020-10-15 2020-10-30 2020-11-16
NNN 2020-07-30 0.520 0.97% 2020-07-15 2020-07-31 2020-08-14
NNN 2020-04-29 0.515 --- 2020-04-15 2020-04-30 2020-05-15
NNN 2020-01-30 0.515 --- 2020-01-15 2020-01-31 2020-02-14
NNN 2019-10-30 0.515 --- 2019-10-15 2019-10-31 2019-11-15
NNN 2019-07-30 0.515 3.00% 2019-07-15 2019-07-31 2019-08-15
NNN 2019-04-29 0.500 --- 2019-04-15 2019-04-30 2019-05-15
NNN 2019-01-30 0.500 --- 2019-01-15 2019-01-31 2019-02-15
NNN 2018-10-30 0.500 --- 2018-10-15 2018-10-31 2018-11-15
NNN 2018-07-30 0.500 5.26% 2018-07-16 2018-07-31 2018-08-15
NNN 2018-04-27 0.475 --- 2018-04-16 2018-04-30 2018-05-15
NNN 2018-01-30 0.475 --- 2018-01-16 2018-01-31 2018-02-15
NNN 2017-10-30 0.475 --- 2017-10-16 2017-10-31 2017-11-15
NNN 2017-07-27 0.475 4.40% 2017-07-14 2017-07-31 2017-08-15
NNN 2017-04-26 0.455 --- 2017-04-13 2017-04-28 2017-05-15
NNN 2017-01-27 0.455 --- 2017-01-17 2017-01-31 2017-02-15
NNN 2016-10-27 0.455 --- 2016-10-14 2016-10-31 2016-11-15

Financial Statements Overview


The next Earnings Report for NNN is 2022-02-10

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Current Cash 0 0 0 0
Receivables 36,469,000 41,483,000 50,061,000 4,338,000
Inventory 0 0 0 0
Current Assets 579,995,000 291,041,000 361,292,000 325,532,000
Current Assets (Other) 0 0 0 53,958,000
Short Term Investments 0 0 0 53,958,000
Long-term Investments 7,552,950,000 7,384,759,000 7,350,911,000 7,312,312,000
Property, Plant & Equipment Net 7,442,473,000 7,270,513,000 7,249,613,000 7,208,661,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 100,768,000 101,510,000 94,800,000 97,980,000
Net Tangible Assets 3,915,142,000 3,925,876,000 3,942,835,000 3,974,300,000
Total Assets 8,132,945,000 7,675,800,000 7,712,203,000 7,637,844,000
Accounts Payable 0 0 0 0
Liabilities (Other) 74,360,000 72,839,000 70,172,000 78,217,000
Current Liabilities (Other) 52,803,000 21,816,000 44,668,000 19,401,000
Total Current Liabilities 3,798,442,000 3,332,083,000 3,354,192,000 3,240,323,000
Current Long-term Debt 3,745,639,000 3,310,267,000 3,309,524,000 3,220,922,000
Long-term Debt 0 0 0 0
Total Liabilities 3,872,803,000 3,404,924,000 3,424,368,000 3,318,544,000
Minority Interest 1,000 2,000 4,000 4,000
Common Stock 174,629,442 174,610,897 174,589,300 173,329,830
Retained Earnings -720,241,000 -705,958,000 -683,525,000 -644,779,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 4,260,142,000 4,270,876,000 4,287,835,000 4,319,300,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Total Revenue 180,357,000 179,011,000 179,778,000 163,284,000
Cost of Revenue 0 0 0 0
Gross Profit 180,357,000 179,011,000 179,778,000 163,284,000
Research and Development 0 0 0 0
Selling General and Admin 11,077,000 11,868,000 11,748,000 9,247,000
Operating Expense 102,178,000 102,469,000 104,078,000 98,525,000
Operating Income 78,179,000 76,542,000 75,700,000 64,759,000
Income Expense Net (Other) 61,000 33,000 65,000 73,000
EBIT 78,240,000 76,575,000 75,765,000 64,832,000
Interest Income 0 0 0 0
Pretax Income 82,932,000 73,021,000 56,587,000 61,287,000
Income Tax 0 0 0 0
Minority Interest -1,000 -2,000 0 0
Net Income 78,448,000 68,538,000 52,102,000 56,802,000
Net Income Basic 78,448,000 68,538,000 52,102,000 56,802,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Net Income 78,448,000 68,538,000 52,102,000 56,802,000
Depreciation 50,976,000 50,875,000 49,980,000 196,623,000
Changes in Receivables 36,469,000 41,483,000 50,061,000 4,338,000
Changes in Inventories 0 0 0 0
Cash Change 543,526,000 249,558,000 311,231,000 267,236,000
Cash Flow 172,394,000 119,586,000 161,170,000 101,370,000
Capital Expenditures -246,954,000 -101,299,000 -106,490,000 -195,944,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -216,918,000 -78,726,000 -88,512,000 -94,247,000
Dividends Paid 0 0 0 0
Net Borrowings 3,745,639,000 3,310,267,000 3,309,524,000 3,166,964,000
Cash Flow Financing 338,492,000 -102,533,000 -28,663,000 -34,747,000
Financing Cash Flows (Other) 0 0 0 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.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
6 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.5
10 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 8.8
8 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
10 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 7.7
9 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.3
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.0
Rating Leverage Section Avg. Rating
8 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
8 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
7 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.2
7 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.2
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
9 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.4
9 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
7 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
4 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.5
8.4 Overall REITRating™ Score (See trend) 6.2

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.

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Last updated: 2022-01-16 - v2.8