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National Retail Properties, Inc. (NNN) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

National Retail Properties, Inc.

CIK: 751364 Ticker: NNN


NEWS RELEASE
For information contact:
Kevin B. Habicht
Chief Financial Officer
(407) 265-7348    FOR IMMEDIATE RELEASE
February 12, 2015


RECORD 2014 OPERATING RESULTS
ANNOUNCED BY NATIONAL RETAIL PROPERTIES, INC.

Orlando, Florida, February 12, 2015 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced record operating results for the quarter and year ended December 31, 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
 
Year Ended
 
December 31,
 
December 31,
 
2014
 
2013
 
2014
 
2013
 
(in thousands, except per share data)
Revenues
$
115,315

 
$
103,992

 
$
434,847

 
$
393,525

 
 
 
 
 
 
 
 
Net earnings available to common stockholders
$
44,898

 
$
35,382

 
$
155,167

 
$
132,222

Net earnings per common share
$
0.35

 
$
0.29

 
$
1.24

 
$
1.10

 
 
 
 
 
 
 
 
FFO available to common stockholders
$
72,277

 
$
60,646

 
$
260,977

 
$
229,518

FFO per common share
$
0.56

 
$
0.50

 
$
2.09

 
$
1.91

 
 
 
 
 
 
 
 
Recurring FFO available to common stockholders
$
70,485

 
$
61,815

 
$
259,441

 
$
230,965

Recurring FFO per common share
$
0.55

 
$
0.51

 
$
2.08

 
$
1.93

 
 
 
 
 
 
 
 
AFFO available to common stockholders
$
71,970

 
$
63,603

 
$
264,043

 
$
238,917

AFFO per common share
$
0.56

 
$
0.52

 
$
2.12

 
$
1.99


Portfolio occupancy was 98.6% at December 31, 2014, as compared to 98.8% at September 30, 2014 and 98.2% at December 31, 2013

2014 Highlights:
Increased annual FFO per common share 9.4%
Increased annual Recurring FFO per common share 7.8%
Increased annual AFFO per common share 6.5%
Dividend yield of 4.2% at December 31, 2014
Dividends per common share increased to $1.65 marking the 25th consecutive year of annual dividend increases - making the company one of only four equity REITs and one of only 99 public companies with 25 or more consecutive annual dividend increases
Maintained high occupancy levels at 98.6% with weighted average remaining lease term of 12 years


The following information was filed by National Retail Properties, Inc. (NNN) on Thursday, February 12, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Notes To Schedule Iii (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Real Estate - Held For Sale (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Direct Financing Leases (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 1 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 10 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 11 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 12 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 13 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 14 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 15 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 16 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 17 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 18 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 19 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 2 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 20 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 21 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 22 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 23 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 24 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 25 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 26 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 27 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 3 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 4 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 5 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 6 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 7 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 8 (details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Under Operating Leases - Table 9 (details)
Schedule Iv - Mortgage Loans On Real Estate
Schedule Iv - Mortgage Loans On Real Estate (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Income And Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (parenthetical)
Commercial Mortgage Residual Interests
Commercial Mortgage Residual Interests (schedule Of Amounts Recognized As Unrealized Gains And/or Losses Recorded As Other Comprehensive Income And Other Than Temporary Valuation Impairments Recorded In Earnings) (details)
Commercial Mortgage Residual Interests (schedule Of Key Assumptions Used In Determining The Value Of The Residuals) (details)
Commercial Mortgage Residual Interests (securitizations) (details)
Commercial Mortgage Residual Interests (sensitivity Analysis Table) (details)
Commercial Mortgage Residual Interests (tables)
Commitments And Contingencies
Common Stock
Common Stock (details)
Common Stock (tables)
Derivatives
Derivatives (details)
Derivatives (tables)
Dividends
Dividends (details)
Dividends (tables)
Earnings From Discontinued Operations
Earnings From Discontinued Operations (details)
Earnings From Discontinued Operations (tables)
Employee Benefit Plan
Employee Benefit Plan (details)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (details)
Income Taxes
Income Taxes (components Of Net Income Tax Asset) (details)
Income Taxes (income Tax Benefit (expense) Reconciliation) (details)
Income Taxes (income Tax Benefit (expense)) (details)
Income Taxes (narrative) (details)
Income Taxes (tables)
Line Of Credit Payable
Line Of Credit Payable (details)
Major Tenants
Major Tenants (details)
Mortgages Payable
Mortgages Payable (details)
Mortgages Payable (tables)
Mortgages, Notes And Accrued Interest Receivable
Mortgages, Notes And Accrued Interest Receivable (details)
Mortgages, Notes And Accrued Interest Receivable (tables)
Notes Payable
Notes Payable (details)
Notes Payable (tables)
Notes Payable - Convertible
Notes Payable - Convertible (details)
Notes Payable - Convertible (tables)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (computation Of Basic And Diluted Earnings Per Share) (details)
Organization And Summary Of Significant Accounting Policies (correction Of Immaterial Errors) (details)
Organization And Summary Of Significant Accounting Policies (intangible Assets And Liabilities) (details)
Organization And Summary Of Significant Accounting Policies (narrative) (details)
Organization And Summary Of Significant Accounting Policies (other Comprehensive Income (loss)) (details)
Organization And Summary Of Significant Accounting Policies (policy)
Organization And Summary Of Significant Accounting Policies (summary Of Nnn's Investment Portfolio) (details)
Organization And Summary Of Significant Accounting Policies (tables)
Performance Incentive Plan
Performance Incentive Plan (details)
Performance Incentive Plan (tables)
Preferred Stock
Preferred Stock (details)
Preferred Stock (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Real Estate
Real Estate (classification Of Investment Property Leases) (details)
Real Estate (commitments) (details)
Real Estate (direct Financing Leases) (details)
Real Estate (dispositions) (details)
Real Estate (future Minimum Lease Payments Receivable) (details)
Real Estate (held For Sale) (details)
Real Estate (impairments) (details)
Real Estate (summary Of Real Estate Subject To Operating Leases) (details)
Real Estate (tables)
Segment Information
Segment Information (details)
Subsequent Events
Ticker: NNN
CIK: 751364
Form Type: 10-K Annual Report
Accession Number: 0000751364-15-000008
Submitted to the SEC: Fri Feb 20 2015 8:39:08 AM EST
Accepted by the SEC: Fri Feb 20 2015
Period: Wednesday, December 31, 2014
Industry: Real Estate Investment Trusts

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