Last10K.com

National Retail Properties, Inc. (NNN) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

National Retail Properties, Inc.

CIK: 751364 Ticker: NNN

 

Exhibit 99.1

img41624055_0.jpg 

NEWS RELEASE

 

For information contact:

 

Kevin B. Habicht

 

Chief Financial Officer

 

(407) 265-7348

FOR IMMEDIATE RELEASE

 

February 9, 2022

 

 

RECORD ANNUAL RESULTS AND INCREASED 2022 GUIDANCE

ANNOUNCED BY NATIONAL RETAIL PROPERTIES, INC.

 

Orlando, Florida, February 9, 2022 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced operating results for the quarter and year ended December 31, 2021. Highlights include:

 

Operating Results:

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,

 

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

 

(in thousands, except per share data)

 

 

Revenues

 

$

187,261

 

 

$

163,284

 

 

$

726,407

 

 

$

660,681

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings available to common stockholders

 

$

65,129

 

 

$

56,802

 

(1)

$

264,217

 

 

$

210,859

 

(1)

Net earnings per common share

 

$

0.37

 

 

$

0.33

 

(1)

$

1.51

 

 

$

1.22

 

(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FFO available to common stockholders

 

$

120,529

 

 

$

107,565

 

 

$

467,833

 

 

$

428,236

 

 

FFO per common share

 

$

0.69

 

 

$

0.62

 

 

$

2.68

 

 

$

2.49

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core FFO available to common stockholders

 

$

131,426

 

 

$

109,331

 

 

$

500,058

 

 

$

446,681

 

 

Core FFO per common share

 

$

0.75

 

 

$

0.63

 

 

$

2.86

 

 

$

2.59

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AFFO available to common stockholders

 

$

135,132

 

(2)

$

119,764

 

(3)

$

534,792

 

(2)

$

431,444

 

(3)

AFFO per common share

 

$

0.77

 

(2)

$

0.69

 

(3)

$

3.06

 

(2)

$

2.51

 

(3)

 

(1)
Includes the write-off of $7,034 (or $0.04 per share) and $21,792 (or $0.12 per share) of receivables due to reclassifying certain tenants as cash basis for accounting purposes during the quarter and year ended December 31, 2020, respectively.
(2)
Amounts include ($2,949) and ($24,945) of net straight-line accrued rent from net rent deferral repayments from the COVID-19 rent deferral lease amendments for the quarter and year ended December 31, 2021, respectively. Excluding such, AFFO per common share would have been $0.76 and $2.92 for the quarter and year ended December 31, 2021, respectively.
(3)
Amounts include ($2,507) and $30,474 of net straight-line accrued rent from net rent deferrals (repayments) from the COVID-19 rent deferral lease amendments for the quarter and year ended December 31, 2020, respectively. Excluding such, AFFO per common share results would have been $0.68 and $2.68 for the quarter and year ended December 31, 2020, respectively.

2021 Highlights:

Dividend yield of 4.4% at December 31, 2021
Annual dividend per common share increased to $2.10 marking the 32nd consecutive year of annual dividend increases - the third longest record of consecutive annual dividend increases of all public REITs and 99% of all public companies
Maintained high occupancy levels at 99.0%, with a weighted average remaining lease term of 10.6 years, at December 31, 2021 as compared to 98.6% at September 30, 2021, and 98.5% at December 31, 2020

 

 


The following information was filed by National Retail Properties, Inc. (NNN) on Wednesday, February 9, 2022 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.

View differences made from one year to another to evaluate National Retail Properties, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by National Retail Properties, Inc..

Continue

Assess how National Retail Properties, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

National Retail Properties, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
Revenue
Other
Filter by Subcategory:
All
Expense
Debt
Shares
Product
Earnings
Income
Geography
Dividend
Other
Inside National Retail Properties, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Income And Comprehensive Income
Commitments And Contingencies
Common Stock
Common Stock (Details)
Common Stock (Tables)
Derivatives
Derivatives (Narrative) (Details)
Derivatives (Tables)
Derivatives (Terminated Derivatives) (Details)
Dividends
Dividends (Details)
Dividends (Tables)
Employee Benefit Plan
Employee Benefit Plan (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Income Taxes (Narrative) (Details)
Line Of Credit Payable
Line Of Credit Payable (Details)
Major Tenants
Mortgages Payable
Mortgages Payable (Details)
Mortgages Payable (Tables)
Notes Payable
Notes Payable (Details)
Notes Payable (Tables)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Accumulated Other Comprehensive Income (Loss)) (Details)
Organization And Summary Of Significant Accounting Policies (Computation Of Basic And Diluted Earnings Per Share) (Details)
Organization And Summary Of Significant Accounting Policies (Narrative) (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 (Narrative) (Details)
Performance Incentive Plan (Other Grants) (Details)
Performance Incentive Plan (Restricted Stock Activity) (Details)
Performance Incentive Plan (Tables)
Preferred Stock
Preferred Stock (Details)
Real Estate
Real Estate (Amortization Of Acquired Lease Intangibles) (Details)
Real Estate (Commitments) (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 (Intangible Assets And Liabilities) (Details)
Real Estate (Key Information For Leases) (Details)
Real Estate (Rental Income) (Details)
Real Estate (Summary Of Real Estate Subject To Operating Leases) (Details)
Real Estate (Tables)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization - (Details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization - (Parenthetical) (Details)
Schedule Iv - Mortgage Loans On Real Estate
Schedule Iv - Mortgage Loans On Real Estate (Details)
Segment Information
Segment Information (Details)
Subsequent Events
Subsequent Events (Details)
Ticker: NNN
CIK: 751364
Form Type: 10-K Annual Report
Accession Number: 0000950170-22-000944
Submitted to the SEC: Wed Feb 09 2022 9:26:55 AM EST
Accepted by the SEC: Wed Feb 09 2022
Period: Friday, December 31, 2021
Industry: Real Estate Investment Trusts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/nnn/0000950170-22-000944.htm