Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Elizabeth Gulacsy was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
NNN REIT, Inc. Announces Quarterly Dividend, Payable on May 15, 2026 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 60 cents per share payable May 15, 2026 to shareholders of record as of April 30, 2026. Announcement • Apr 01
NNN REIT, Inc. to Report Q1, 2026 Results on Apr 30, 2026 NNN REIT, Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 30, 2026 Announcement • Mar 24
NNN REIT, Inc., Annual General Meeting, May 12, 2026 NNN REIT, Inc., Annual General Meeting, May 12, 2026. Location: 450 south orange avenue, suite 900, orlando, florida 32801, United States Announcement • Feb 20
NNN REIT, Inc. Announces Management Changes, Effective February 18, 2026 NNN REIT, Inc. announced that Steven D. Cosler, Chairperson, has retired from the Board effective February 18, 2026. Steven D. Cosler has served on the Board since August 2016 and as Chair since May 2021. Edward J. Fritsch, an independent director, has been appointed by the Board to succeed Mr. Cosler and serve as Chair effective upon Mr. Cosler's retirement. Edward J. Fritsch has served on NNN's Board since February 2012 and brings extensive real estate investment trust experience as former President and Chief Executive Officer at Highwoods Properties, Inc., a publicly traded REIT (retired, 2019). Mr. Fritsch is a former member of the Nareit Board of Governors, and its 2015-2016 national chair, and was the recipient of Nareit's Industry Leadership Award in 2023. Announcement • Feb 11
NNN REIT, Inc. Provides Earnings Guidance for the Year 2026 NNN REIT, Inc. provided earnings guidance for the year 2026. For the year, the company expects net earnings per share excluding any gains on disposition of real estate, impairment losses and retirement and severance costs of $2.02 to $2.08. Announcement • Jan 15
Nnn Reit, Inc. Declares Quarterly Dividend, payable February 13, 2026 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 60 cents per share payable February 13, 2026 to shareholders of record as of January 30, 2026. Announcement • Jan 08
NNN REIT, Inc. to Report Q4, 2025 Results on Feb 11, 2026 NNN REIT, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 11, 2026 Announcement • Nov 04
NNN REIT, Inc. Revises Earnings Guidance for the Year 2025 NNN REIT, Inc. revised earnings guidance for the year 2025. For the year, the company expects net earnings per share excluding any gains on disposition of real estate, impairment losses and retirement and severance costs to be between $1.93 to $1.97 against previous guidance of $1.93 to $1.98. Announcement • Oct 14
NNN REIT, Inc. Declares Quarterly Dividend, Payable November 14, 2025 NNN REIT, Inc. announced a quarterly dividend of 60 cents per share payable November 14, 2025 to shareholders of record as of October 31, 2025. Announcement • Sep 25
NNN REIT, Inc. to Report Q3, 2025 Results on Nov 04, 2025 NNN REIT, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025 New Risk • Aug 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €541k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Significant insider selling over the past 3 months (€541k sold). Board Change • Aug 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Director Elizabeth Gulacsy was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Aug 05
NNN REIT, Inc. Updates Earnings Guidance for the Fiscal Year 2025 NNN REIT, Inc. updated earnings guidance for the fiscal year 2025. For the year, the company expects Net earnings per share excluding any gains on disposition of real estate, impairment charges, and executive retirement costs from $1.97 to $2.02 to $1.93 to $1.98. Announcement • Aug 01
NNN REIT, Inc. Appoints Joshua P. Lewis Executive Vice President, Chief Investment Officer The Board of Directors of NNN REIT, Inc. announced that Joshua P. Lewis has been appointed Executive Vice President, Chief Investment Officer. Mr. Lewis is responsible for leading the Company's real estate investments, including structuring, negotiation, and deal execution. Mr. Lewis has held roles of increasing responsibility within the Acquisitions team since joining the Company in 2008 and has served as Senior Vice President, Head of Acquisitions since August 2022. Prior to NNN, Mr. Lewis spent 13 years in the real estate capital markets and investment banking divisions at BofA Securities and its predecessor firms, where he held senior roles advising on and executing real estate financing transactions. Mr. Lewis is a cum laude graduate of Miami University in Oxford, Ohio, with a double major in finance and marketing. Mr. Lewis is a member of ICSC. Announcement • Jul 15
NNN REIT, Inc. Announces Quarterly Dividend, Payable on August 15, 2025 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 60 cents per share, payable on August 15, 2025 to shareholders of record as of July 31, 2025. The 3.4% increase in the quarterly dividend marks the 36th consecutive annual dividend increase. Announcement • Jun 30
NNN REIT, Inc.(NYSE:NNN) dropped from Russell 1000 Dynamic Index NNN REIT, Inc.(NYSE:NNN) dropped from Russell 1000 Dynamic Index Announcement • Jun 26
NNN REIT, Inc. to Report Q2, 2025 Results on Aug 05, 2025 NNN REIT, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 05, 2025 Announcement • May 01
NNN REIT, Inc. Maintains Earnings Guidance for the Fiscal Year 2025 NNN REIT, Inc. maintained earnings guidance for the fiscal year 2025. for the year, the company expects Net earnings per share excluding any gains on disposition of real estate, impairment charges, and executive retirement costs of $1.97 to $2.02. Announcement • Apr 15
NNN REIT, Inc. Announces Quarterly Dividend, Payable May 15, 2025 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 58 cents per share payable May 15, 2025 to shareholders of record as of April 30, 2025. NNN is one of only three publicly traded REITs to have increased its annual dividend for 35 or more consecutive years. Announcement • Apr 04
NNN REIT, Inc. to Report Q1, 2025 Results on May 01, 2025 NNN REIT, Inc. announced that they will report Q1, 2025 results Pre-Market on May 01, 2025 Announcement • Mar 21
NNN REIT, Inc., Annual General Meeting, May 13, 2025 NNN REIT, Inc., Annual General Meeting, May 13, 2025. Location: 450 south orange avenue, suite 900, orlando, florida 32801, United States Announcement • Feb 13
NNN REIT, Inc. Provides Earnings Guidance for the Fiscal Year 2025 NNN REIT, Inc. provided earnings guidance for the fiscal year 2025. for the year, the company expects Net earnings per share excluding any gains on disposition of real estate, impairment charges, and executive retirement costs of $1.97 per share to $2.02 per share. Announcement • Jan 15
NNN REIT, Inc. Announces Quarterly Dividend, Payable on February 14, 2025 The board of directors of NNN REIT, Inc. announced a quarterly dividend of 58 cents per share payable February 14, 2025 to shareholders of record as of January 31, 2025. Announcement • Jan 09
NNN REIT, Inc. to Report Q4, 2024 Results on Feb 11, 2025 NNN REIT, Inc. announced that they will report Q4, 2024 results on Feb 11, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.53 (vs US$0.59 in 3Q 2023) Third quarter 2024 results: EPS: US$0.53 (down from US$0.59 in 3Q 2023). Revenue: US$218.6m (up 6.5% from 3Q 2023). Net income: US$97.9m (down 8.2% from 3Q 2023). Profit margin: 45% (down from 52% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Oct 21
Second quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 4.8%, which is lower than the industry average of 5.6%. Announcement • Oct 15
NNN REIT, Inc. Announces Quarterly Dividend, Payable on November 15, 2024 NNN REIT, Inc. announced a quarterly dividend of 58 cents per share payable on November 15, 2024 to shareholders of record as of October 31, 2024. Announcement • Oct 07
NNN REIT, Inc. to Report Q3, 2024 Results on Oct 31, 2024 NNN REIT, Inc. announced that they will report Q3, 2024 results Pre-Market on Oct 31, 2024 Recent Insider Transactions • Aug 21
CFO, Executive VP recently sold €1.0m worth of stock On the 20th of August, Kevin Habicht sold around 24k shares on-market at roughly €41.37 per share. This transaction amounted to 7.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Kevin's only on-market trade for the last 12 months. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.58 (vs US$0.54 in 2Q 2023) Second quarter 2024 results: EPS: US$0.58 (up from US$0.54 in 2Q 2023). Revenue: US$216.8m (up 7.0% from 2Q 2023). Net income: US$106.7m (up 8.2% from 2Q 2023). Profit margin: 49% (in line with 2Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Jul 17
First quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 5.2%, which is lower than the industry average of 5.6%. Announcement • Jul 15
NNN REIT, Inc., Inc. Announces Quarterly Dividend, Payable on August 15, 2024 NNN REIT, Inc. announced a quarterly dividend of 58 cents per share payable on August 15, 2024 to shareholders of record as of July 31, 2024. The 2.7% increase in the quarterly dividend marks the 35th consecutive annual dividend increase. Announcement • Jul 09
NNN REIT, Inc. to Report Q2, 2024 Results on Aug 01, 2024 NNN REIT, Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 01, 2024 Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$0.52 (vs US$0.50 in 1Q 2023) First quarter 2024 results: EPS: US$0.52 (up from US$0.50 in 1Q 2023). Revenue: US$215.4m (up 5.5% from 1Q 2023). Net income: US$94.4m (up 4.8% from 1Q 2023). Profit margin: 44% (in line with 1Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 24
Upcoming dividend of US$0.56 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 15 May 2024. Trailing yield: 5.5%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (5.3%). Declared Dividend • Apr 17
Fourth quarter dividend of US$0.56 announced Shareholders will receive a dividend of US$0.56. Ex-date: 29th April 2024 Payment date: 15th May 2024 Dividend yield will be 5.7%, which is about the same as the industry average. Announcement • Apr 15
NNN REIT, Inc. Announces Quarterly Dividend, Payable on May 15, 2024 NNN REIT, Inc. announced a quarterly dividend of 56.5 cents per share payable May 15, 2024 to shareholders of record as of April 30, 2024. Announcement • Apr 12
NNN REIT, Inc. to Report Q1, 2024 Results on May 01, 2024 NNN REIT, Inc. announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on May 01, 2024 Announcement • Mar 23
NNN REIT, Inc., Annual General Meeting, May 15, 2024 NNN REIT, Inc., Annual General Meeting, May 15, 2024, at 08:30 Eastern Daylight. Location: at 450 South Orange Avenue, Suite 900 Orlando, Florida 32801, Florida United States Agenda: To consider the election of nine directors to serve for a term ending at the 2025 annual meeting of stockholders and until their successors are duly elected and qualified; to consider A non-binding advisory proposal to approve the compensation of our named executive officers as described in this Proxy Statement. Announcement • Feb 21
NNN REIT, Inc. has filed a Follow-on Equity Offering. NNN REIT, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,000,000
Security Features: Closed-End Fund
Transaction Features: Dividend Reinvestment Plan Reported Earnings • Feb 09
Full year 2023 earnings released: EPS: US$2.17 (vs US$1.89 in FY 2022) Full year 2023 results: EPS: US$2.17 (up from US$1.89 in FY 2022). Revenue: US$828.1m (up 7.1% from FY 2022). Net income: US$392.3m (up 17% from FY 2022). Profit margin: 47% (up from 43% in FY 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 1.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 08
NNN REIT, Inc. Provides Earnings Guidance for the Fiscal Year 2024 NNN REIT, Inc. provided earnings guidance for the fiscal year 2024. for the year, the company expects Net earnings per common share excluding any gains on disposition of $1.94 per share to $2.00 per share. Upcoming Dividend • Jan 23
Upcoming dividend of US$0.56 per share at 5.4% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 15 February 2024. Trailing yield: 5.4%. Within top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.2%). Announcement • Jan 16
NNN REIT, Inc. Announces Quarterly Dividend, Payable on February 15, 2024 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 56.5 cents per share payable February 15, 2024 to shareholders of record as of January 31, 2024. Announcement • Jan 09
NNN REIT, Inc. to Report Q4, 2023 Results on Feb 08, 2024 NNN REIT, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 08, 2024 Recent Insider Transactions • Dec 15
Secretary recently sold €1.5m worth of stock On the 13th of December, Christopher Tessitore sold around 38k shares on-market at roughly €38.63 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.7m more than they bought in the last 12 months. Announcement • Nov 22
NNN REIT, Inc. Announces Retirement of Christopher P. Tessitore as an Executive Vice President, Appoints Gina M. Steffens as Successor NNN REIT, Inc. announced that Christopher P. Tessitore, Executive Vice President and General Counsel, will retire effective January 1, 2024. Gina M. Steffens will succeed Mr. Tessitore as Executive Vice President and General Counsel. Ms. Steffens will join the company as of November 30, 2023. Mr. Tessitore has served as Executive Vice President of the Company since January 2007, as General Counsel since February 2006 and as Secretary since May 2006. He also previously served as Senior Vice President and Assistant General Counsel of the Company from 2005 to 2006. Prior to March 2005, Mr. Tessitore was a shareholder at the law firm of Lowndes, Drosdick, Doster, Kantor & Reed, P.A. Mr. Tessitore previously served on the board of directors of Elevate Orlando and as the lead director and on the executive committee of BETA Center, Inc. Ms. Steffens joins NNN with extensive public and private company experience. She was most recently Chief Executive Officer of PHM Brands. Previously she was Chief Legal Officer at PHM Brands, General Counsel of Real Capital Solutions, Assistant General Counsel and Senior Director at Vail Resorts Management Company and Senior Counsel and Director at Regency Centers Corporation. Her prior experience includes positions with the law firms Foley & Lardner, LLP as well as Lowndes, Drosdick, Doster, Kantor & Reed, P.A. Ms. Steffens is a graduate of the University of Florida and earned her Juris Doctor at the George Washington University Law School. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$0.59 (vs US$0.50 in 3Q 2022) Third quarter 2023 results: EPS: US$0.59 (up from US$0.50 in 3Q 2022). Revenue: US$205.1m (up 6.0% from 3Q 2022). Net income: US$106.8m (up 21% from 3Q 2022). Profit margin: 52% (up from 46% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 23
Upcoming dividend of US$0.56 per share at 6.4% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 15 November 2023. Trailing yield: 6.4%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (6.8%). Announcement • Oct 17
NNN REIT, Inc. Announces Quarterly Dividend, Payable on November 15, 2023 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 56.5 cents per share payable November 15, 2023 to shareholders of record as of October 31, 2023. Announcement • Oct 14
NNN REIT, Inc. to Report Q3, 2023 Results on Nov 01, 2023 NNN REIT, Inc. announced that they will report Q3, 2023 results at 9:30 AM, US Eastern Standard Time on Nov 01, 2023 Announcement • Aug 17
NNN REIT, Inc. Appoints Jonathan A. Adamo as Executive Vice President, Portfolio Operations NNN REIT, Inc. announced that Jonathan A. Adamo has been appointed Executive Vice President, Portfolio Operations. Mr. Adamo joined NNN in April of 2003 and currently serves as Senior Vice President, Head of Portfolio Operations, overseeing the asset management, leasing, underwriting, dispositions and development financing functions of the company. Mr. Adamo previously served in the acquisitions department from 2011 until August of 2022, most recently as Senior Vice President, and prior to his time with acquisitions, led the investment sales and disposition efforts for the company from 2006 to 2011. On a combined basis, Mr. Adamo has executed and managed more than $4 billion in transaction volume for NNN. He earned a bachelor's degree in International Business from Rollins College in Winter Park, Fla., and received his MBA from The Crummer Graduate School of Business. NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2023, the company owned 3,479 properties in 49 states with a gross leasable area of approximately 35.5 million square feet and a weighted average remaining lease term of 10.2 years. NNN is one of only three publicly traded REITs to have increased annual dividends for 34 or more consecutive years. Announcement • Aug 05
NNN REIT, Inc. has completed a Follow-on Equity Offering. NNN REIT, Inc. has completed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 84,501
Price\Range: $36.56
Discount Per Security: $0.7312
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,484,803
Price\Range: $38.21
Discount Per Security: $0.7642
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 30,000
Price\Range: $38.59
Discount Per Security: $0.7718
Security Features: Income Trust
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 717,473
Price\Range: $43.23
Discount Per Security: $0.8646
Security Features: Income Trust
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,168,806
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,671,294
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 349,809
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 300,326
Transaction Features: At the Market Offering Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.54 (vs US$0.42 in 2Q 2022) Second quarter 2023 results: EPS: US$0.54 (up from US$0.42 in 2Q 2022). Revenue: US$202.6m (up 6.2% from 2Q 2022). Net income: US$98.5m (up 33% from 2Q 2022). Profit margin: 49% (up from 39% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 21
Upcoming dividend of US$0.56 per share at 5.0% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 15 August 2023. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.7%). Announcement • Jul 15
NNN REIT, Inc. Announces Quarterly Dividend, Payable on August 15, 2023 The Board of Directors of NNN REIT, Inc. announced a quarterly dividend of 56.5 cents per share payable August 15, 2023 to shareholders of record as of July 31, 2023. Announcement • Jul 13
NNN REIT, Inc. to Report Q2, 2023 Results on Aug 02, 2023 NNN REIT, Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 02, 2023 Announcement • Jun 25
NNN REIT, Inc.(NYSE:NNN) dropped from Russell 1000 Dynamic Index NNN REIT, Inc.(NYSE:NNN) dropped from Russell 1000 Dynamic Index Reported Earnings • May 03
First quarter 2023 earnings released: EPS: US$0.50 (vs US$0.47 in 1Q 2022) First quarter 2023 results: EPS: US$0.50 (up from US$0.47 in 1Q 2022). Revenue: US$204.1m (up 7.3% from 1Q 2022). Net income: US$90.2m (up 11% from 1Q 2022). Profit margin: 44% (up from 43% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year. Buying Opportunity • Mar 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.1%. The fair value is estimated to be €50.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 11% in the next 2 years. Reported Earnings • Feb 10
Full year 2022 earnings released: EPS: US$1.90 (vs US$1.51 in FY 2021) Full year 2022 results: EPS: US$1.90 (up from US$1.51 in FY 2021). Revenue: US$773.1m (up 6.4% from FY 2021). Net income: US$334.6m (up 27% from FY 2021). Profit margin: 43% (up from 36% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Feb 10
National Retail Properties, Inc. Provides Earnings Guidance for the Year 2023 National Retail Properties, Inc. provided earnings guidance for the year 2023. For the year, the company expects Net earnings per common share excluding any gains on disposition of $1.87 - $1.93 per share. Announcement • Jan 14
National Retail Properties, Inc. Declares Quarterly Dividend, Payable on February 15, 2023 The Board of Directors of National Retail Properties, Inc. declared a quarterly dividend of 55 cents per share, payable on February 15, 2023 to common shareholders of record on January 31, 2023. Announcement • Jan 11
National Retail Properties, Inc. to Report Q4, 2022 Results on Feb 09, 2023 National Retail Properties, Inc. announced that they will report Q4, 2022 results Pre-Market on Feb 09, 2023 Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: US$0.50 (vs US$0.45 in 3Q 2021) Third quarter 2022 results: EPS: US$0.50 (up from US$0.45 in 3Q 2021). Revenue: US$193.5m (up 7.3% from 3Q 2021). Net income: US$88.3m (up 13% from 3Q 2021). Profit margin: 46% (up from 43% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Nov 03
National Retail Properties, Inc. Provides Earnings Guidance for the Year 2022 National Retail Properties, Inc. provided earnings guidance for the year 2022. For the year, the company expects net earnings per common share excluding any gains on disposition of real estate, impairment charges, and executive retirement costs of $1.85 to $1.89 per share. Upcoming Dividend • Oct 21
Upcoming dividend of US$0.55 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 15 November 2022. Trailing yield: 5.6%. Within top quartile of German dividend payers (5.2%). In line with average of industry peers (5.9%). Announcement • Oct 15
National Retail Properties, Inc. Declares Quarterly Dividend, Payable on November 15, 2022 The Board of Directors of National Retail Properties, Inc. declared a quarterly dividend of 55 cents per share payable November 15, 2022 to common shareholders of record on October 31, 2022. Announcement • Oct 11
National Retail Properties, Inc. to Report Q3, 2022 Results on Nov 02, 2022 National Retail Properties, Inc. announced that they will report Q3, 2022 results Pre-Market on Nov 02, 2022 Announcement • Aug 17
National Retail Properties, Inc. Appoints Elizabeth Castro Gulacsy to its Board of Directors The Board of Directors of National Retail Properties, Inc. announced that Elizabeth Castro Gulacsy has been appointed to the Board of Directors effective August 17, 2022. Ms. Castro Gulacsy has worked for SeaWorld Entertainment, Inc. since 2013, where she is currently providing CFO transition services and most recently served as Chief Financial Officer and Treasurer from May 2021. Prior to that, she served as the Interim Chief Financial Officer and Treasurer, Chief Accounting Officer, Vice President, Financial Reporting, and Director, Financial Reporting. Previously, Ms. Castro Gulacsy was at Cross Country Healthcare, Inc., a publicly traded healthcare staffing company, from 2002 to 2013 where she most recently served as their Chief Accounting Officer, and earlier worked at Ernst & Young LLP where she most recently served as an audit manager. Ms. Castro Gulacsy currently serves on the audit committee for IAAPA, a global association for the theme park industry. Additionally, Ms. Castro Gulacsy previously served as Treasurer on the Board of Directors for the SeaWorld and Busch Gardens Conservation Fund. Ms. Castro Gulacsy is a graduate of the University of Florida with a Bachelor's Degree in Accounting and a Masters of Accounting and is a licensed Certified Public Accountant. Recent Insider Transactions • Aug 16
CFO, Executive VP recently sold €493k worth of stock On the 12th of August, Kevin Habicht sold around 11k shares on-market at roughly €46.87 per share. This was the largest sale by an insider in the last 3 months. This was Kevin's only on-market trade for the last 12 months. Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: US$0.42 (vs US$0.39 in 2Q 2021) Second quarter 2022 results: EPS: US$0.42 (up from US$0.39 in 2Q 2021). Revenue: US$190.8m (up 6.6% from 2Q 2021). Net income: US$74.2m (up 8.5% from 2Q 2021). Profit margin: 39% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 5.1% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Announcement • Aug 04
National Retail Properties, Inc. Provides Earnings Guidance for the Year 2022 National Retail Properties, Inc. provided earnings guidance for the year 2022. For the year, the company expects Net earnings per common share excluding any gains on disposition in the range of $1.83 to $1.88 per share. Upcoming Dividend • Jul 21
Upcoming dividend of US$0.55 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 15 August 2022. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.5%). In line with average of industry peers (4.7%). Announcement • Jul 16
National Retail Properties, Inc. Declares Quarterly Dividend, Payable on August 15, 2022 The Board of Directors of National Retail Properties, Inc. declared a quarterly dividend of 55 cents per share payable August 15, 2022 to common shareholders of record on July 29, 2022. The 3.8% increase in the quarterly dividend marks the 33rd consecutive annual dividend increase. Announcement • Jul 12
National Retail Properties, Inc. to Report Q2, 2022 Results on Aug 03, 2022 National Retail Properties, Inc. announced that they will report Q2, 2022 results Pre-Market on Aug 03, 2022 Announcement • May 05
National Retail Properties, Inc. Provides Earnings Guidance for the Year 2022 National Retail Properties, Inc. provided earnings guidance for the year 2022. For the year, the company expects net earnings per common share excluding any gains from the sale of real estate, charges for impairments and executive retirement costs in the range of $1.80 to $1.87 per share. Reported Earnings • May 04
First quarter 2022 earnings released: EPS: US$0.47 (vs US$0.30 in 1Q 2021) First quarter 2022 results: EPS: US$0.47 (up from US$0.30 in 1Q 2021). Revenue: US$190.3m (up 5.8% from 1Q 2021). Net income: US$81.4m (up 57% from 1Q 2021). Profit margin: 43% (up from 29% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 5.4% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Upcoming Dividend • Apr 21
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 16 May 2022. Trailing yield: 4.4%. Within top quartile of German dividend payers (3.9%). In line with average of industry peers (4.0%). Announcement • Apr 15
National Retail Properties, Inc. Declares Quarterly Dividend, Payable May 16, 2022 The Board of Directors of National Retail Properties, Inc. declared a quarterly dividend of 53 cents per share payable May 16, 2022 to common shareholders of record on April 29, 2022. Announcement • Feb 18
National Retail Properties, Inc. Appoints Stephen A. "Steve" Horn, Jr. to Board of Directors National Retail Properties, Inc. announced that Stephen A. "Steve" Horn, Jr. was appointed to the Board of Directors. Mr. Horn, currently Executive Vice President and Chief Operating Officer, will assume the roles of Chief Executive Officer and President as of April 29, 2022. Reported Earnings • Feb 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$1.51 (up from US$1.22 in FY 2020). Revenue: US$726.4m (up 9.9% from FY 2020). Net income: US$263.5m (up 25% from FY 2020). Profit margin: 36% (up from 32% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.2%, compared to a 5.5% growth forecast for the reits industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • Jan 21
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 28 January 2022. Payment date: 15 February 2022. Trailing yield: 4.9%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.8%). Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Betsy Holden was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS US$0.45 (vs US$0.30 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$180.4m (up 14% from 3Q 2020). Net income: US$78.4m (up 53% from 3Q 2020). Profit margin: 44% (up from 32% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Aug 25
Equisset LLC, Casey Bachrodt and Phil Bundy acquired All Star Adventures from National Retail Properties, Inc. (NYSE:NNN). Equisset LLC, Casey Bachrodt and Phil Bundy acquired All Star Adventures from National Retail Properties, Inc. (NYSE:NNN) on August 11, 2021.
Equisset LLC, Casey Bachrodt and Phil Bundy completed the acquisition of All Star Adventures from National Retail Properties, Inc. (NYSE:NNN) on August 11, 2021. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS US$0.39 (vs US$0.24 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$179.0m (up 9.4% from 2Q 2020). Net income: US$68.5m (up 65% from 2Q 2020). Profit margin: 38% (up from 25% in 2Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 22
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 16 August 2021. Trailing yield: 4.3%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.0%). Reported Earnings • May 05
First quarter 2021 earnings released The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: US$179.8m (up 2.7% from 1Q 2020). Net income: US$52.1m (down 14% from 1Q 2020). Profit margin: 29% (down from 35% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 24
Upcoming dividend of US$0.52 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 14 May 2021. Trailing yield: 4.4%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.5%). 
