1. National Retail Properties, Inc. Prices Offering Of $400,000,000 Of 4.300% Senior Unsecured Notes Due 2028 And $300,000,000 Of 4.800% Senior Unsecured Notes Due 2048

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    ORLANDO, Fla., September 18, 2018 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has priced its public offering of $400,000,000 of 4.300% senior unsecured notes due 2028 (the “2028 notes”) and $300,000,000 of 4.800% senior unsecured notes due 2048 (the “2048 notes” and, together with the 2028 notes, the “notes”). The 2028 notes were offered at 99.288% of the principal amount with a yield to maturity of 4.388%. The 2048 notes were offered at 98.587% of the principal amount with a yield to maturity of 4.890%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, commencing April 15, 2019. The 2028 notes mature on October 15, 2028. The 2048 notes mature on October 15, 2048. The offering is expected to close on or about September 27, 2018, subject to customary closing conditions.

    Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Jefferies LLC, RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, TD Securities (USA) LLC, Capital One Securities, Inc. and Raymond James & Associates, Inc. are acting as senior co-managers for the offering.

    The Company intends to use the net proceeds from the offering of the notes to repay all of the outstanding indebtedness under its credit facility, to redeem all of its outstanding 5.500% notes due 2021 and to fund future property acquisitions and for general corporate purposes. This press release does not constitute a notice of redemption under the indenture governing such 5.500% notes due 2021.

    Click here for the full press release.

  2. National Retail Properties, Inc. Declares Dividends For Its 5.70% Series E Preferred and 5.20% Series F Preferred Stocks

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    Orlando, Florida, August 15, 2018 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable September 14, 2018, to shareholders of record on August 31, 2018. The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable September 14, 2018, to shareholders of record on August 31, 2018.

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet with a weighted average remaining lease term of 11.5 years. For more information on the company, visit www.nnnreit.com.

  3. Second Quarter 2018 Operating Results Announced by National Retail Properties, Inc.

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    Orlando, Florida, August 1, 2018 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and six months ended June 30, 2018.  Highlights include:

    Operating Results:

    • Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:
    Quarter Ended Six Months Ended
    June 30, June 30,

    2018

    		 2017 2018

    2017
    (in thousands, except per share data)
    Revenues $

    155,518

    		 $

    145,550

    		 $

    308,353

    		 $

    286,981
    Net earnings available to common stockholders $

    61,992

    		 $

    49,447

    		 $

    156,690

    		 $

    101,068
    Net earnings per common share $

    0.40

    		 $

    0.33

    		 $

    1.02

    		 $

    0.68
    FFO available to common stockholders $

    104,944

    		 $

    87,884

    		 $

    207,713

    		 $

    166,151
    FFO per common share $

    0.68

    		 $

    0.59

    		 $

    1.35

    		 $

    1.12
    Core FFO available to common stockholders $

    105,204

    		 $

    95,425

    		 $

    208,234

    		 $

    183,547
    Core FFO per common share $

    0.68

    		 $

    0.64

    		 $

    1.35

    		 $

    1.24
    AFFO available to common stockholders $

    105,303

    		 $

    96,412

    		 $

    208,182

    		 $

    185,457
    AFFO per common share $

    0.68

    		 $

    0.65

    		 $

    1.35

    		 $

    1.25

    Second Quarter 2018 Highlights:

    • FFO per common share increased 15.3% over prior year results
    • Core FFO per common share increased 6.3% over prior year results
    • AFFO per common share increased 4.6% over prior year results
    • Portfolio occupancy was 98.5% at June 30, 2018 as compared to 99.2% on March 31, 2018 and 99.1% on December 31, 2017
    • Invested $140.5 million in property investments, including the acquisition of 59 properties with an aggregate 336,000 square feet of gross leasable area at an initial cash yield of 7.1%
    • Sold 13 properties for $11.9 million producing $4.1 million of gains on sales
    • Raised $129.2 million net proceeds from the issuance of 3,136,802 common shares

    Click here for the full press release.

  4. Common Dividend Increased 5.3% by National Retail Properties, Inc.

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    — Marks 29th Consecutive Annual Dividend Increase —

    Orlando, Florida, July 16, 2018 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 50 cents per share payable August 15, 2018 to common shareholders of record on July 31, 2018.   The 5.3% increase in the quarterly dividend marks the 29th consecutive annual dividend increase for NNN.  National Retail Properties is one of only three publicly traded REITs and 88 publicly traded companies in America to have increased annual dividends for 29 or more consecutive years.

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2018, the company owned 2,800 properties in 48 states with a gross leasable area of approximately 29.1 million square feet with a weighted average remaining lease term of 11.4 years. For more information on the company, visit www.nnnreit.com.

  5. National Retail Properties, Inc. Declares Dividends for its 5.70% Series E Preferred and 5.20% Series F Preferred Stocks

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    Orlando, Florida, May 15, 2018 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable June 15, 2018, to shareholders of record on May 31, 2018.  The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable June 15, 2018, to shareholders of record on May 31, 2018.

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2018, the company owned 2,800 properties in 48 states with a gross leasable area of approximately 29.1 million square feet with a weighted average remaining lease term of 11.4 years. For more information on the company, visit www.nnnreit.com.

  6. Record First Quarter 2018 Operating Results and Increased 2018 Guidance Announced by National Retail Properties, Inc.

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    Orlando, Florida, May 1, 2018 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter ended March 31, 2018.  Highlights include:

     

    Operating Results:

    • Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:
    Quarter Ended
    March 31,
    2018 2017
    (in thousands, except per share data)
    Revenues $ 152,836 $ 141,432
    Net earnings available to common stockholders $ 94,698 $ 51,622
    Net earnings per common share $ 0.62 $ 0.35
    FFO available to common stockholders $ 102,769 $ 78,267
    FFO per common share $ 0.67 $ 0.53
    Core FFO available to common stockholders $ 103,030 $ 88,122
    Core FFO per common share $ 0.67 $ 0.60
    AFFO available to common stockholders $ 102,880 $ 89,045
    AFFO per common share $ 0.67 $ 0.60

     

    First Quarter 2018 Highlights:

    • FFO per common share increased 26.4% over prior year results
    • Core FFO per common share increased 11.7% over prior year results
    • AFFO per common share increased 11.7% over prior year results
    • Portfolio occupancy was 99.2% at March 31, 2018 as compared to 99.1% on December 31, 2017 and March 31, 2017
    • Invested $177.0 million in property investments, including the acquisition of 52 properties with an aggregate 400,000 square feet of gross leasable area at an initial cash yield of 6.7%
    • Sold 15 properties for $71.6 million producing $38.6 million of gains on sales
    • No common shares were issued under the ATM equity program

    CLICK HERE to see the full press release.

  7. Common Dividend Declared by National Retail Properties, Inc.

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    Orlando, Florida, April 16, 2018 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 47.5 cents per share payable May 15, 2018 to common shareholders of record on April 30, 2018. National Retail Properties is one of only three publicly traded REITs and 88 publicly traded companies in America to have increased annual dividends for 28 or more consecutive years.

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2017, the company owned 2,764 properties in 48 states with a gross leasable area of approximately 29.1 million square feet with a weighted average remaining lease term of 11.5 years. For more information on the company, visit www.nnnreit.com.

  8. National Retail Properties, Inc. Declares Dividends for its 5.70% Series E Preferred and 5.20% Series F Preferred Stocks

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    Orlando, Florida, February 14, 2018 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable March 15, 2018, to shareholders of record on February 28, 2018. The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable March 15, 2018, to shareholders of record on February 28, 2018.

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2017, the company owned 2,764 properties in 48 states with a gross leasable area of approximately 29.1 million square feet with a weighted average remaining lease term of 11.5 years. For more information on the company, visit www.nnnreit.com.

  9. Record Annual Results Announced by National Retail Properties, Inc.

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    Orlando, Florida, February 13, 2018 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced operating results for the quarter and year ended December 31, 2017.  Highlights include:

    Operating Results:

    • Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:
    Quarter Ended Year Ended
    December 31, December 31,
    2017 2016 2017 2016
    (in thousands, except per share data)
    Revenues $ 150,247 $ 141,199 $ 584,933 $ 533,647
    Net earnings available to common stockholders $ 63,586 $ 54,044 $ 217,193 $ 200,877
    Net earnings per common share $ 0.42 $ 0.37 $ 1.45 $ 1.38
    FFO available to common stockholders $ 95,267 $ 88,717 $ 359,179 $ 330,544
    FFO per common share $ 0.63 $ 0.60 $ 2.40 $ 2.28
    Core FFO available to common stockholders $ 95,459 $ 88,717 $ 376,991 $ 340,643
    Core FFO per common share $ 0.63 $ 0.60 $ 2.52 $ 2.35
    AFFO available to common stockholders $ 95,692 $ 90,285 $ 379,083 $ 347,933
    AFFO per common share $ 0.63 $ 0.62 $ 2.54 $ 2.41

     

    • Portfolio occupancy was 99.1% at December 31, 2017 as compared to 98.8% at September 30, 2017, and 99.0% at December 31, 2016

    2017 Highlights:

    • Increased annual net earnings per common share 5.1%
    • Increased annual FFO per common share 5.3%
    • Increased annual Core FFO per common share 7.2%
    • Increased annual AFFO per common share 5.4%
    • Dividend yield of 4.3% at December 31, 2017
    • Annual dividend per common share increased 4.3% to $1.86 marking the 28th consecutive year of annual dividend increases – making the company one of only three equity REITs and one of only 88 public companies with 28 or more consecutive annual dividend increases
    • Maintained high occupancy levels at 99.1% with a weighted average remaining lease term of 11.5 years
    • Invested $754.9 million in 276 properties with an aggregate gross leasable area of approximately 2,243,000 square feet at an initial cash yield of 6.9%
    • Sold 48 properties for $96.8 million, producing $36.3 million of gains on sale, net of noncontrolling interests, at a cap rate of 6.0%
    • Raised $647.9 million of new long-term capital at attractive pricing
      • Raised $253.2 million in net proceeds from the issuance of 6,051,062 common shares
      • Raised $394.7 million in net proceeds from the issuance of 3.50% senior unsecured notes due 2027
    • Paid off $250 million principal amount of 6.875% senior unsecured notes due 2017
    • Expanded unsecured bank credit facility to $900 million while extending the term to January 2022 and reducing the interest rate to LIBOR + 87.5 basis points
    • $779.5 million availability on bank credit facility at December 31, 2017
    • 7% of properties are unencumbered with secured mortgage debt
    • Total average annual shareholder return of over 11% for the past 5-, 10-, 15-, 20-, and 25-years exceeds industry averages

    Selected Highlights for the quarter ended December 31, 2017:

    • Investments:
    • $257.4 million in property investments, including the acquisition of 94 properties with an aggregate gross leasable area of approximately 955,000 square feet at an initial cash yield of 6.9%
    • Dispositions:
    • Sold 17 properties with net proceeds of $41.0 million, producing $15.8 million of gains on sales at a cap rate of 5.7%
    • Long-term capital:
      • Raised $81.0 million in net proceeds from the issuance of 1,946,089 common shares

    Jay Whitehurst, Chief Executive Officer, commented: “2017 was another very strong year for National Retail Properties in every aspect of our business.  Our healthy portfolio, our broad acquisition pipeline, and our strong balance sheet position us well to continue delivering consistent per share growth over a multi-year term and maintain our guidance of 4-5% growth in per share results for 2018.”

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of December 31, 2017, the company owned 2,764 properties in 48 states with a gross leasable area of approximately 29.1 million square feet and with a weighted average remaining lease term of 11.5 years.  For more information on the company, visit www.nnnreit.com.

    Management will hold a conference call on February 13, 2018, at 10:30 a.m. ET to review these results.  The call can be accessed on the National Retail Properties web site live at https://nnnreit.com.  For those unable to listen to the live broadcast, a replay will be available on the company’s web site.  In addition, a summary of any earnings guidance given on the call will be posted to the company’s web site.

    Click here for the full press release including financial tables.

  10. Common Dividend Declared by National Retail Properties, Inc.

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    Orlando, Florida, January 16, 2018 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 47.5 cents per share payable February 15, 2018 to common shareholders of record on January 31, 2018. National Retail Properties is one of only four publicly traded REITs and 88 publicly traded companies in America to have increased annual dividends for 28 or more consecutive years.

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2017, the company owned 2,687 properties in 48 states with a gross leasable area of approximately 28.2 million square feet with a weighted average remaining lease term of 11.4 years. For more information on the company, visit www.nnnreit.com.

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