Archive: 2014

  1. National Retail Properties, Inc. To Ring The Closing Bell at NYSE

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    ORLANDO, Fla., Nov. 18, 2014 — National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced the company will celebrate its 25th consecutive annual dividend increase at the New York Stock Exchange (NYSE) by ringing The Closing Bell® on Wednesday, November 19, 2014 at 4:00 p.m. Eastern Standard Time.

    A broadcast of the event will begin at 3:59 p.m. EST and can be viewed live on the NYSE website at https://www.nyse.com/bell.

    Click here to read the full press release.

  2. National Retail Properties, Inc. Closes Offering of Common Stock

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    Orlando, Florida, November 14, 2014 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has closed an underwritten public offering of 5,462,500 shares of common stock at a price of $38.16 per share, which includes 712,500 shares sold to the underwriters pursuant to the full exercise of their option to purchase additional shares. The Company estimates that the net proceeds from the offering will be approximately $200.1 million, after deducting the underwriting discount. The Company intends to use the net proceeds from the offering to repay outstanding indebtedness under its credit facility. In addition, the Company intends to use the remainder of the net proceeds from the offering, if any, to fund future property acquisitions and for general corporate purposes.

    Click here to read the full press release.

  3. National Retail Properties, Inc. Declares Dividends for its 6.625% Series D Preferred and 5.70% Series E Preferred Stocks

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    Orlando, Florida, November 14, 2014 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 6.625% Series D Cumulative Redeemable Preferred Stock of 41.40625 cents per depositary share payable December 15, 2014, to shareholders of record on November 28, 2014. The Board also declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable December 15, 2014, to shareholders of record on November 28, 2014.

    Click here to read the full press release.
  4. National Retail Properties, Inc. Prices Offering of Common Stock

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    Orlando, Florida, November 11, 2014 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has priced an underwritten public offering of 4,750,000 shares of common stock at a price of $38.16 per share. As part of the offering, the Company granted the underwriters a 30-day option to purchase up to 712,500 additional shares of common stock. The offering is expected to close on November 14, 2014, subject to the satisfaction of customary closing conditions.

    Click here to read the full press release.

  5. National Retail Properties, Inc. Announces Offering of Common Stock

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    Orlando, Florida, November 10, 2014 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has commenced an underwritten public offering of 4,000,000 shares of common stock. As part of the offering, the Company also expects to grant the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock.

    Click here to read the full press release.

  6. Third Quarter 2014 Operating Results and 2015 FFO Guidance Announced by National Retail Properties

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    Orlando, Florida, November 4, 2014 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and nine months ended September 30, 2014. Highlights include:

     

    Operating Results:

    • Revenues and net earnings, FFO, Recurring FFO and AFFO available to common stockholders and diluted per share amounts:

     

    Quarter Ended Nine Months Ended
    September 30, September 30,
    2014 2013 2014 2013
    (in thousands, except per share data)
    Revenues $ 109,856 $ 100,775 $ 319,532 $ 289,534
    Net earnings available to common stockholders $ 39,081 $ 34,810 $ 110,268 $ 96,839
    Net earnings per common share $ 0.31 $ 0.29 $ 0.89 $ 0.81
    FFO available to common stockholders $ 65,369 $ 59,946 $ 188,700 $ 168,871
    FFO per common share $ 0.52 $ 0.49 $ 1.53 $ 1.41
    Recurring FFO available to common stockholders $ 65,390 $ 59,465 $ 188,956 $ 169,149
    Recurring FFO per common share $ 0.52 $ 0.49 $ 1.53 $ 1.42
    AFFO available to common stockholders $ 66,644 $ 60,898 $ 192,072 $ 175,312
    AFFO per common share $ 0.53 $ 0.50 $ 1.56 $ 1.47

     

     

    Third Quarter 2014 Highlights:

    • FFO per share and Recurring FFO per share increased 6.1% over prior year results
    • AFFO per share increased 6.0% over prior year results
    • Portfolio occupancy increased to 98.8% at September 30, 2014, as compared to 98.5% at June 30, 2014 and 98.1% at September 30, 2013
    • Invested $345.5 million in 121 properties with an aggregate 1,484,000 square feet of gross leasable area at an initial cash yield of 7.4%
    • Sold 10 properties for $15.2 million producing $3.5 million of gains on sales, net of income tax
    • Raised $69.8 million in net proceeds from the issuance of 1,906,988 common shares

     

     

     

    Highlights for the nine months ended September 30, 2014:

    • FFO per share increased 8.5% over prior year results
    • Recurring FFO per share increased 7.7% over prior year results
    • AFFO per share increased 6.1% over prior year results
    • Invested $531.5 million in 202 properties with an aggregate 2,006,000 square feet of gross leasable area at an initial cash yield of 7.4%
    • Sold 24 properties for $41.4 million producing $7.8 million of gains on sales, net of income tax and noncontrolling interest
    • Raised $491.2 million of new long-term capital at attractive pricing and terms
      • Raised $145.1 million in net proceeds from the issuance of 4,058,593 common shares
      • Raised $346.1 million in net proceeds from the issuance of 3.90% senior unsecured notes due 2024
    • Paid off $150 million principal amount of 6.25% senior unsecured notes due 2014

     

    On July 17, 2014, Standard & Poor’s Rating Services raised National Retail Properties’ unsecured debt rating to BBB+.

     

    National Retail Properties announced an increase in 2014 FFO guidance from a range of $2.00 to $2.04 to a range of $2.04 to$2.06 per share before any impairment expense. The 2014 AFFO is estimated to be $2.08 to $2.10 per share. The FFO guidance equates to net earnings before any gains or losses from the sale of real estate of $1.17 to $1.19 per share, plus $0.87 per share of expected real estate depreciation, amortization and impairments. The guidance is based on current plans and assumptions and subject to risks and uncertainties more fully described in this press release and the company’s reports filed with the Securities and Exchange Commission.

     

    The Company also announced 2015 FFO guidance of $2.13 to $2.17 per share and estimated 2015 AFFO to be $2.19 to $2.23 per share. This FFO guidance equates to net earnings before any gains or losses from the sale of real estate and impairment charges of $1.19 to $1.23 per share plus $0.94 per share of expected real estate related depreciation and amortization. The guidance is based on current plans, assumptions, and estimates and is subject to the risks and uncertainties more fully described in this press release and the company’s reports filed with the Securities and Exchange Commission.

     

    Craig Macnab, Chief Executive Officer, commented: “We are pleased with the excellent acquisition activity in the third quarter. As a result, our reported third quarter results plus our full year 2014 guidance both indicate 6% growth over 2013 results. We are optimistic that 2015 will allow us to continue to produce solid growth in per share results. Significantly, our recent common dividend declaration marks the 25th consecutive year of increased annual cash dividends paid. This record is testimony to the performance consistency of our single tenant retail assets and the execution of our strategy over many years. This long term record of annually raising our dividend puts NNN in a very small group of public companies and is a record we obviously intend to perpetuate.”

    National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2014, the company owned 2,038 properties in 47 states with a gross leasable area of approximately 22.1 million square feet. For more information on the company, visit nnnreit.com.

    Click here to read the full press release.

  7. National Retail Properties, Inc. Announces Expanded $650 Million Unsecured Credit Facility

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    Orlando, Florida, October 28, 2014 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced the amendment of its unsecured bank credit facility. The amendment increases the available borrowing capacity under the credit facility from $500 million to $650 million and reduces pricing from LIBOR plus 107.5 basis points to LIBOR plus 92.5 basis points. The amended facility matures January 2019, with an option to extend maturity to January 2020. The amended facility also includes an accordion feature to increase the facility size to up to $1.0 billion.

    Click here to read the full press release.

     

     

  8. National Retail Properties, Inc. Declares Common Dividend

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    Orlando, Florida, October 15, 2014 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 42 cents per share payable November 14, 2014 to common shareholders of record on October 31, 2014.

    To read the full press release click here.

     

     

     

     

  9. Second Quarter 2014 Operating Results and Increased 2014 FFO Guidance Announced by National Retail Properties

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    Orlando, Florida, August 5, 2014 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter ended June 30, 2014.  Highlights include:

    Operating Results:

    • Revenues and net earnings, FFO, Recurring FFO and AFFO available to common stockholders and diluted per share amounts:

     

    Quarter Ended

    Six Months Ended

    June 30,

    June 30,

    2014

    2013

    2014

    2013

    (in thousands, except per share data)

    Revenues $

    105,613

    $

    96,295

    $

    209,677

    $

    188,759

    Net earnings available to   common stockholders $

    36,713

    $

    32,724

    $

    71,187

    $

    62,029

    Net earnings per common   share $

    0.30

    $

    0.27

    $

    0.58

    $

    0.52

    FFO available to common   stockholders $

    61,690

    $

    54,284

    $

    123,331

    $

    108,925

    FFO per common share $

    0.50

    $

    0.45

    $

    1.01

    $

    0.92

    Recurring FFO available to common stockholders $

    61,767

    $

    54,284

    $

    123,566

    $

    109,684

    Recurring FFO per common   share $

    0.50

    $

    0.45

    $

    1.01

    $

    0.93

    AFFO available to common   stockholders $

    62,710

    $

    57,400

    $

    125,428

    $

    114,414

    AFFO per common share $

    0.51

    $

    0.47

    $

    1.02

    $

    0.97

    Portfolio occupancy increased to 98.5%.

    To read the full press release, click here.

     

  10. National Retail Properties, Inc. Increases Common Dividend

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    Orlando, Florida, July 15, 2014 – The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 42 cents per share payable August 15, 2014 to common shareholders of record on July 31, 2014.

    To read the full press release click here.

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