$NNN (National Retail Properties, Inc.)

$NNN {{ '2016-05-02T13:19:06+0000' | timeago}} • Announcement

$NNN said its FFO per share increased 5.6% during the quarter to $80MM or $0.57 per share compared to $70.8MM or $0.54 per share during 1Q15. $NNN reported a 5.5% increase in its AFFO per share compared to prior year.

$NNN {{ '2017-07-14T16:20:06+0000' | timeago}} • Announcement

The BoD of $NNN declared a quarterly dividend of $0.475 per share payable August 15, 2017 to common shareholders of record on July 31, 2017.

$NNN {{ '2017-06-29T20:33:57+0000' | timeago}} • Announcement

$NNN said its portfolio occupancy rate stands at about 99%. The company has set an acquisition guidance for 2017 of $500-600MM. $NNN is also on track to dispose of about $100MM in assets in 2017. $NNN owns 2,500 single-tenant, broadly diversified retail properties across the US, with an average value of about $2.8MM.

$NNN {{ '2017-02-16T15:21:48+0000' | timeago}} • Announcement

$NNN appointed Julian Whitehurst to its BoD. Whitehurst, currently President and COO, will also assume the role of CEO as of April 28, 2017.

$NNN {{ '2017-02-13T16:35:58+0000' | timeago}} • Webcast

$NNN owns 117 Bob Evans restaurants. Bob Evans is spinning off its entire restaurant division to Golden Gate Capital and there is no effect on $NNN’s leases of any of these properties. $NNN will continue to have a lease guarantee with Bob Evans’ parent company for its restaurants and $NNN considers this spinoff in general as a net positive.

$NNN {{ '2017-02-13T16:24:02+0000' | timeago}} • Webcast

$NNN owns 12 Gander Mountain stores diversified across 9 states in the Midwest and Southeast comprising about 2.2% of annual base rent. Some stores in $NNN’s portfolio are performing well and some are struggling. If Gander were to file for bankruptcy, $NNN’s possible rent loss would be a few million dollars out of a total income of about $550MM.

$NNN {{ '2017-02-13T16:04:46+0000' | timeago}} • Webcast

$NNN said in terms of the transaction market, its pipeline looks good and the company is seeing deal volume in all of its typical categories. The cap rates appear to be flat currently. The company believes there is good volume and opportunities available and the pricing is about flat at present.

$NNN {{ '2017-02-13T15:46:22+0000' | timeago}} • Webcast

$NNN acquired 313 net lease retail properties in 2016 investing $847MM. The average initial cash yield on these acquisitions was 6.9%. The vast majority of the transactions were single property acquisitions throughout the year, many of which are purchased from existing tenants with an average investment per property of $2.7MM.

$NNN {{ '2017-02-13T14:13:21+0000' | timeago}} • Announcement

$NNN reported 4Q16 funds from operations of $88.72MM or $0.60 per share, up from $67.32MM or $0.49 per share last year. Core FFO per share rose to $0.60 from $0.56 and adjusted FFO per share increased to $0.62 from $0.57.

$NNN {{ '2017-02-13T14:07:28+0000' | timeago}} • Announcement

$NNN reported a rise in 4Q16 earnings driven by higher revenue. Net income rose to $54.04MM or $0.37 per share from $33.61MM or $0.24 per share last year. Revenue grew to $141.2MM from $126.4MM.

$NNN {{ '2016-09-30T11:31:42+0000' | timeago}} • Announcement

$NNN said that its Chairman and CEO Craig Macnab will retire and step down as Chairman and member of the Board of Directors effective April 28, 2017. Julian Whitehurst, currently President and COO, will assume the role of President and CEO as of April 28, 2017.

$NNN {{ '2016-08-19T14:42:32+0000' | timeago}} • Announcement

$NNN said it appointed Pamela Beall and Steven Cosler to its BoD. Beall is EVP, Corporate Planning and Strategy of MPLX LP and is a director on the board of its general partner, MPLX GP, a subsidiary of $MPC. Cosler is an Operating Partner with Water Street Healthcare Partners.

$NNN {{ '2016-07-18T13:51:06+0000' | timeago}} • Announcement

$NNN said its BoD declared a quarterly dividend of 45.5 cents per share payable August 15, 2016 to common shareholders of record on July 29, 2016.

$FRT {{ '2016-05-05T00:34:52+0000' | timeago}} • Announcement

$FRT, which competes with $NNN and $AKR, said it maintained its FY16 guidance for FFO per diluted share to approx. $5.65-5.71. The company has updated its earnings per diluted share to $3.49-3.56.

$NNN {{ '2016-05-02T20:00:10+0000' | timeago}} • Webcast

Ross Nussbaum of UBS asks about $NNN's Camping World property. CEO Craig Macnab said they prospered in the gun and ammunition area and in footwear. Sporting goods has been a difficult segment. Camping World is the dominant retailer of new and used RVs and their servicing and its market percentage is high in a fragmented category.

$NNN {{ '2016-05-02T19:19:39+0000' | timeago}} • Webcast

Juan Sanabria of Bank of America Merrill Lynch asks about $NNN's restaurant exposure. CEO Craig Macnab said the restaurant category is around 20%, mixed between full service and quicker service. $NNN's small box retail includes convenience stores and restaurants and risk is dispersed among a large number of properties.

$NNN {{ '2016-05-02T19:03:23+0000' | timeago}} • Webcast

Nick Joseph of Citigroup asks about the Bob Evans transaction. COO Julian Whitehurst said $NNN acquired 117 Bob Evans restaurants for $161MM, the details of which will be released next quarter. The avg. price per property was around $1.35MM and rent is about $75,000 per property on avg.

$NNN {{ '2016-05-02T18:51:33+0000' | timeago}} • Webcast

At 1Q16-end, $NNN had a cash balance of $51MM. The company has no floating rate debt. Weighted avg. debt maturity is 6.7 years on weighted avg. interest rate of 4.5%. Debt to EBITDA was 4.3 times at March 31. Interest coverage was 4.7 times for 1Q16 and fixed charge coverage was 3.4 times.

$NNN {{ '2016-05-02T18:40:10+0000' | timeago}} • Webcast

In 1Q16, $NNN raised $88MM of common equity. This coupled with the $53MM of property disposition proceeds provided $141MM of total equity equivalent proceeds. This fully funded the company's $125MM of acquisitions in 1Q16.

$NNN {{ '2016-05-02T18:19:05+0000' | timeago}} • Webcast

Florida-based REIT $NNN acquired 46 retail properties in 1Q16, investing $125MM at an initial cash yield of 7%. The company had 11 different closings, purchasing properties at an avg. cost of $2.7MM, which is in line with its entire portfolio average. Deal flow has been solid. $NNN sold 10 properties for $52.8MM at a 6.1% avg. cap rate.

$NNN {{ '2016-05-02T13:25:01+0000' | timeago}} • Announcement

$NNN, which competes with $AKR and $DDR, said it increased its FY16 FFO guidance. The company expects its FFO to be about $2.31-2.36 per share from $2.29-2.35. The company estimates its FY16 AFFO to be approx. $2.36-2.41 per share.

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