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• | 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 |
• | 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 |
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National Retail Properties, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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The increase in general and administrative expenses for the year ended December 31, 2016, is primarily attributable to an increase in compensation costs.
The increase is primarily due to the increase in tenant reimbursable and non-reimbursable expenses related to a partial year of reimbursable and non-reimbursable expenses from certain properties acquired in 2016 and a full year of reimbursable and non-reimbursable expenses from certain properties acquired in 2015.
On an ongoing basis, management evaluates its estimates and assumptions however, actual results may differ from these estimates and assumptions, which in turn could have a material impact on NNNs financial statements.
The lost revenues and increased property expenses resulting from vacant Properties or uncollectibility of lease revenues could have a material adverse effect on the liquidity and results of operations if NNN is unable to re-lease the Properties at comparable rental rates and in a timely manner.
Real estate expenses increased for the year ended December 31, 2017, as compared to the same period in 2016, but remained flat as a percentage of total operating expenses and as a percentage of revenues.
The Preferred Stock Shares underlying...Read more
Includes land, construction costs, tenant...Read more
Includes land, construction costs, tenant...Read more
If available, future sources of...Read more
The increase is primarily due...Read more
In accordance with the terms...Read more
Includes only principal amounts outstanding...Read more
The decrease in general and...Read more
In February 2015, NNN filed...Read more
The increase for the year...Read more
The increase for the year...Read more
Rental Income increased in amount...Read more
Rental Income increased in amount...Read more
High occupancy levels coupled with...Read more
Real estate held for sale...Read more
Debt issuance costs for all...Read more
The improvements on such Properties...Read more
$394,722,000 in net proceeds from...Read more
Depreciation and amortization expenses increased...Read more
In accordance with the Financial...Read more
Includes dollars invested in projects...Read more
NNN completed the following underwritten...Read more
Gain, net of income tax...Read more
As of December 31, 2017,...Read more
As of December 31, 2017,...Read more
Properties are leased to tenants...Read more
NNNs failure to comply with...Read more
As of December 31, 2017...Read more
The increase in expenses is...Read more
The increase in expenses is...Read more
A description of NNNs outstanding...Read more
When scheduled rental revenue varies...Read more
The information in the following...Read more
Operating expenses increased primarily due...Read more
The key indicators for NNN...Read more
As of December 31, 2017,...Read more
On January 16, 2018, NNN...Read more
The note discounts are amortized...Read more
Each of NNNs outstanding series...Read more
Accrued rental income is the...Read more
Management anticipates the costs associated...Read more
Shares underlying the depositary shares...Read more
Additional critical accounting policies include...Read more
The preparation of NNNs consolidated...Read more
NNN has used, and expects...Read more
In addition, these defaults could...Read more
Upon issuance of the 2026...Read more
$287,500,000 paid to fully redeem...Read more
$16,387,000 in dividends paid to...Read more
During times when inflation is...Read more
The deferred asset is being...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
National Retail Properties, Inc. provided additional information to their SEC Filing as exhibits
Ticker: NNN
CIK: 751364
Form Type: 10-K Annual Report
Accession Number: 0000751364-18-000024
Submitted to the SEC: Tue Feb 13 2018 9:03:52 AM EST
Accepted by the SEC: Tue Feb 13 2018
Period: Sunday, December 31, 2017
Industry: Real Estate Investment Trusts