image
Real Estate - REIT - Retail - NYSE - US
$ 42.2
0.884 %
$ 7.91 B
Market Cap
19.54
P/E
1. INTRINSIC VALUE

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.[ Read More ]

The intrinsic value of one NNN stock under the base case scenario is HIDDEN Compared to the current market price of 42.2 USD, National Retail Properties, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart NNN

image
FINANCIALS
828 M REVENUE
7.12%
555 M OPERATING INCOME
15.04%
392 M NET INCOME
17.25%
612 M OPERATING CASH FLOW
5.89%
-681 M INVESTING CASH FLOW
12.47%
66.6 M FINANCING CASH FLOW
91.83%
219 M REVENUE
0.81%
144 M OPERATING INCOME
5.87%
97.9 M NET INCOME
-8.21%
207 M OPERATING CASH FLOW
71.51%
-106 M INVESTING CASH FLOW
-153.91%
160 M FINANCING CASH FLOW
353.52%
Balance Sheet Decomposition National Retail Properties, Inc.
image
Current Assets 51 M
Cash & Short-Term Investments 1.19 M
Receivables 41.3 M
Other Current Assets 8.54 M
Non-Current Assets 8.61 B
Long-Term Investments 0
PP&E 0
Other Non-Current Assets 8.61 B
Current Liabilities 166 M
Accounts Payable 0
Short-Term Debt 0
Other Current Liabilities 166 M
Non-Current Liabilities 4.34 B
Long-Term Debt 4.01 B
Other Non-Current Liabilities 328 M
EFFICIENCY
Earnings Waterfall National Retail Properties, Inc.
image
Revenue 828 M
Cost Of Revenue 28.4 M
Gross Profit 800 M
Operating Expenses 245 M
Operating Income 555 M
Other Expenses 163 M
Net Income 392 M
RATIOS
96.57% GROSS MARGIN
96.57%
67.03% OPERATING MARGIN
67.03%
47.38% NET MARGIN
47.38%
9.44% ROE
9.44%
4.53% ROA
4.53%
6.80% ROIC
6.80%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis National Retail Properties, Inc.
image
Net Income 392 M
Depreciation & Amortization 239 M
Capital Expenditures 0
Stock-Based Compensation 0
Change in Working Capital 1.01 M
Others -18.6 M
Free Cash Flow 612 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets National Retail Properties, Inc.
image
Wall Street analysts predict an average 1-year price target for NNN of $46.3 , with forecasts ranging from a low of $41 to a high of $53 .
NNN Lowest Price Target Wall Street Target
41 USD -2.84%
NNN Average Price Target Wall Street Target
46.3 USD 9.68%
NNN Highest Price Target Wall Street Target
53 USD 25.59%
4. DIVIDEND ANALYSIS
2.31% DIVIDEND YIELD
0.58 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership National Retail Properties, Inc.
image
Sold
0-3 MONTHS
2.66 M USD 3
3-6 MONTHS
188 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
1.75 M USD 2
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
2 months ago
Aug 26, 2024
Sell 236 K USD
Adamo Jonathan
EVP, Portfolio Operations
- 5000
47.1 USD
2 months ago
Aug 23, 2024
Sell 1.31 M USD
Horn Stephen A JR
President & CEO
- 28192
46.62 USD
2 months ago
Aug 20, 2024
Sell 1.11 M USD
HABICHT KEVIN B
EVP, Chief Financial Officer
- 24222
45.93 USD
3 months ago
Aug 06, 2024
Sell 188 K USD
Miller Michelle Lynn
EVP,Chief Acctg & Tech Officer
- 4000
46.88 USD
11 months ago
Dec 13, 2023
Sell 1.59 M USD
Tessitore Christopher Paul
EVP
- 38056
41.6827 USD
11 months ago
Nov 27, 2023
Sell 159 K USD
Adamo Jonathan
EVP, Portfolio Operations
- 4000
39.85 USD
1 year ago
Nov 07, 2023
Sell 47.8 K USD
Miller Michelle Lynn
EVP, Chief Accounting Officer
- 1250
38.27 USD
2 years ago
Aug 12, 2022
Sell 506 K USD
HABICHT KEVIN B
EVP, Chief Financial Officer
- 10520
48.06 USD
3 years ago
May 26, 2021
Sell 46.5 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1000
46.495 USD
3 years ago
Mar 30, 2021
Sell 980 K USD
HABICHT KEVIN B
EVP & CFO
- 22126
44.2875 USD
3 years ago
Mar 30, 2021
Sell 980 K USD
HABICHT KEVIN B
EVP & CFO
- 22126
44.2875 USD
3 years ago
Mar 15, 2021
Sell 1.52 M USD
WHITEHURST JULIAN E
President and CEO
- 34281
44.3934 USD
3 years ago
Mar 12, 2021
Sell 282 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 6500
43.331 USD
3 years ago
Feb 17, 2021
Sell 1.27 M USD
Tessitore Christopher Paul
Executive Officer
- 30000
42.2 USD
3 years ago
Dec 28, 2020
Sell 589 K USD
Horn Stephen A JR
EVP & Chief Operating Officer
- 14000
42.0727 USD
3 years ago
Dec 15, 2020
Sell 39.7 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1000
39.677 USD
3 years ago
Nov 23, 2020
Sell 805 K USD
WHITEHURST JULIAN E
President and CEO
- 20034
40.18 USD
4 years ago
Mar 26, 2020
Bought 2.25 K USD
COSLER STEVEN D
Director
+ 111
20.242 USD
4 years ago
Mar 25, 2020
Bought 5.85 K USD
COSLER STEVEN D
Director
+ 300
19.5 USD
4 years ago
Mar 24, 2020
Bought 42.1 K USD
COSLER STEVEN D
Director
+ 2196
19.1797 USD
4 years ago
Mar 23, 2020
Bought 19 K USD
COSLER STEVEN D
Director
+ 1069
17.743 USD
4 years ago
Mar 16, 2020
Sell 186 K USD
FICK DAVID M
Director
- 4423
42 USD
4 years ago
Mar 12, 2020
Sell 846 K USD
HABICHT KEVIN B
EVP & CFO
- 19673
42.9832 USD
4 years ago
Mar 11, 2020
Sell 787 K USD
WHITEHURST JULIAN E
President and CEO
- 16103
48.868 USD
4 years ago
Mar 11, 2020
Sell 787 K USD
WHITEHURST JULIAN E
President and CEO
- 16103
48.868 USD
4 years ago
Mar 12, 2020
Sell 509 K USD
Bayer Paul Eugene
Executive Officer
- 11835
43 USD
4 years ago
Feb 26, 2020
Sell 331 K USD
Bayer Paul Eugene
Executive Officer
- 5734
57.6794 USD
4 years ago
Feb 21, 2020
Sell 291 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 5000
58.162 USD
4 years ago
Feb 24, 2020
Sell 1.15 M USD
Tessitore Christopher Paul
Executive Officer
- 19597
58.745 USD
4 years ago
Feb 14, 2020
Sell 1.01 M USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 18000
56.27 USD
4 years ago
Dec 19, 2019
Sell 558 K USD
HABICHT KEVIN B
EVP & CFO
- 10711
52.1056 USD
5 years ago
Aug 22, 2019
Sell 94.2 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1700
55.436 USD
5 years ago
Jun 13, 2019
Sell 82.4 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1500
54.908 USD
5 years ago
Jun 04, 2019
Sell 65.5 K USD
Tessitore Christopher Paul
Executive Officer
- 2550
25.69 USD
5 years ago
May 08, 2019
Sell 1.99 M USD
Bayer Paul Eugene
Executive Officer
- 37899
52.44 USD
5 years ago
Mar 28, 2019
Sell 375 K USD
Bayer Paul Eugene
Executive Officer
- 6743
55.55 USD
5 years ago
Mar 21, 2019
Sell 65 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1200
54.178 USD
5 years ago
Mar 07, 2019
Sell 1.02 M USD
HABICHT KEVIN B
EVP & CFO
- 19641
52.077 USD
5 years ago
Mar 05, 2019
Sell 663 K USD
Bayer Paul Eugene
Executive Officer
- 12745
52 USD
5 years ago
Feb 22, 2019
Sell 1.79 M USD
WHITEHURST JULIAN E
President and CEO
- 34045
52.6377 USD
5 years ago
Feb 14, 2019
Sell 1.2 M USD
Tessitore Christopher Paul
Executive Officer
- 23000
52.185 USD
5 years ago
Dec 07, 2018
Sell 183 K USD
HABICHT KEVIN B
EVP & CFO
- 3606
50.7324 USD
5 years ago
Nov 28, 2018
Sell 224 K USD
Bayer Paul Eugene
Executive Officer
- 4509
49.58 USD
5 years ago
Nov 30, 2018
Sell 17.3 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 350
49.547 USD
6 years ago
Nov 14, 2018
Sell 244 K USD
Bayer Paul Eugene
Executive Officer
- 5000
48.77 USD
6 years ago
Nov 09, 2018
Sell 307 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 6250
49.15 USD
6 years ago
Sep 05, 2018
Sell 460 K USD
Tessitore Christopher Paul
Executive Officer
- 10000
45.99 USD
6 years ago
Aug 30, 2018
Sell 1.2 M USD
WHITEHURST JULIAN E
President and CEO
- 26130
46.0559 USD
6 years ago
Aug 23, 2018
Sell 769 K USD
HABICHT KEVIN B
EVP & CFO
- 16805
45.733 USD
6 years ago
Aug 03, 2018
Sell 79.9 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1750
45.67 USD
6 years ago
Jun 11, 2018
Sell 932 K USD
HABICHT KEVIN B
EVP & CFO
- 22287
41.837 USD
6 years ago
May 30, 2018
Sell 705 K USD
Tessitore Christopher Paul
Executive Officer
- 16939
41.62 USD
6 years ago
May 18, 2018
Sell 313 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 8000
39.09 USD
6 years ago
May 15, 2018
Sell 29.2 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 750
38.951 USD
6 years ago
May 14, 2018
Sell 1.02 M USD
WHITEHURST JULIAN E
President and CEO
- 25690
39.8514 USD
6 years ago
Feb 28, 2018
Sell 452 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 12000
37.6355 USD
6 years ago
Dec 14, 2017
Sell 32.3 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 750
43.03 USD
6 years ago
Dec 14, 2017
Sell 880 K USD
HABICHT KEVIN B
EVP & CFO
- 20664
42.6 USD
7 years ago
Aug 24, 2017
Sell 722 K USD
WHITEHURST JULIAN E
President and CEO
- 17413
41.4613 USD
7 years ago
Aug 17, 2017
Sell 411 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 10000
41.11 USD
7 years ago
Aug 14, 2017
Sell 951 K USD
HABICHT KEVIN B
EVP & CFO
- 23499
40.4486 USD
7 years ago
Aug 04, 2017
Sell 80.6 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 2000
40.28 USD
7 years ago
Apr 06, 2017
Sell 22 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 500
43.996 USD
7 years ago
Apr 03, 2017
Sell 656 K USD
WHITEHURST JULIAN E
President and COO
- 15000
43.7646 USD
7 years ago
Mar 17, 2017
Sell 59.4 K USD
Tessitore Christopher Paul
Executive Officer
- 1338
44.39 USD
7 years ago
Mar 17, 2017
Sell 59.4 K USD
Tessitore Christopher Paul
Executive Officer
- 1338
44.39 USD
7 years ago
Mar 20, 2017
Sell 828 K USD
Tessitore Christopher Paul
Executive Officer
- 18662
44.395 USD
7 years ago
Mar 20, 2017
Sell 828 K USD
Tessitore Christopher Paul
Executive Officer
- 18662
44.395 USD
7 years ago
Mar 09, 2017
Sell 562 K USD
Bayer Paul Eugene
Executive Officer
- 13000
43.23 USD
7 years ago
Feb 24, 2017
Sell 2.44 M USD
MACNAB CRAIG
Chief Executive Officer
- 54183
45.029 USD
7 years ago
Feb 22, 2017
Sell 328 K USD
Bayer Paul Eugene
Executive Officer
- 7325
44.8 USD
7 years ago
Feb 21, 2017
Sell 787 K USD
WHITEHURST JULIAN E
President and COO
- 17761
44.3196 USD
7 years ago
Feb 17, 2017
Sell 1.11 M USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 25000
44.31 USD
7 years ago
Jan 03, 2017
Sell 3.74 M USD
MACNAB CRAIG
Chief Executive Officer
- 85000
43.987 USD
7 years ago
Dec 21, 2016
Sell 21.6 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 500
43.299 USD
7 years ago
Nov 28, 2016
Sell 149 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 3500
42.5091 USD
8 years ago
Sep 28, 2016
Bought 57.1 K USD
FICK DAVID M
Director
+ 2200
25.95 USD
8 years ago
Aug 15, 2016
Sell 51.2 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 1000
51.17 USD
8 years ago
Aug 12, 2016
Sell 359 K USD
Tessitore Christopher Paul
Executive Officer
- 7000
51.33 USD
8 years ago
Jun 29, 2016
Sell 511 K USD
Bayer Paul Eugene
Executive Officer
- 10000
51.103 USD
8 years ago
Jun 28, 2016
Sell 1.38 M USD
WHITEHURST JULIAN E
President and COO
- 28004
49.156 USD
8 years ago
Jun 24, 2016
Sell 766 K USD
MACNAB CRAIG
Chief Executive Officer
- 15832
48.398 USD
8 years ago
Jun 09, 2016
Sell 120 K USD
Miller Michelle Lynn
EVP & Chief Accounting Officer
- 2500
47.815 USD
8 years ago
Jun 03, 2016
Sell 235 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 5000
47.03 USD
8 years ago
May 31, 2016
Sell 819 K USD
HABICHT KEVIN B
EVP & CFO
- 18047
45.4048 USD
8 years ago
May 16, 2016
Sell 1.07 M USD
HABICHT KEVIN B
EVP & CFO
- 22886
46.9353 USD
8 years ago
May 06, 2016
Sell 70.4 K USD
LANIER TED B
Director
- 1500
46.949 USD
8 years ago
May 06, 2016
Sell 70.4 K USD
LANIER TED B
Director
- 1500
46.949 USD
8 years ago
May 05, 2016
Sell 697 K USD
MACNAB CRAIG
Chief Executive Officer
- 15000
46.4486 USD
8 years ago
Apr 04, 2016
Sell 461 K USD
WHITEHURST JULIAN E
President and COO
- 10000
46.0514 USD
8 years ago
Mar 16, 2016
Sell 205 K USD
Horn Stephen A JR
EVP & Chief Acquisitions Offic
- 4500
45.4838 USD
8 years ago
Feb 25, 2016
Sell 676 K USD
MACNAB CRAIG
Chief Executive Officer
- 15000
45.079 USD
8 years ago
Feb 19, 2016
Sell 180 K USD
Bayer Paul Eugene
Executive Officer
- 4000
45.11 USD
8 years ago
Feb 17, 2016
Sell 313 K USD
Tessitore Christopher Paul
Executive Officer
- 7000
44.781 USD
8 years ago
Feb 16, 2016
Sell 546 K USD
HABICHT KEVIN B
EVP & CFO
- 12261
44.5404 USD
8 years ago
Feb 17, 2016
Sell 1.41 M USD
WHITEHURST JULIAN E
President and COO
- 31355
44.8929 USD
7. News
REITs RetREIT? 2 Yielding Over 5% Long-Term Investors Should Consider REITs have recently seen their share prices dip, likely due to the upcoming presidential election as well as rising geopolitical tensions. NNN REIT and VICI Properties are two fundamentally sound REITs that offer long-term investors solid upside potential. Both recently reported strong Q3 earnings with solid FFO, AFFO, and revenue growth on an annualized basis. seekingalpha.com - 4 days ago
Very Bad News For Blue-Chip Big Dividend REITs Blue-chip REITs rallied hard between early July and late October. However, they have recently pulled back. We discuss why, and we also share our top REIT pick of the moment. seekingalpha.com - 5 days ago
Forget The Election: 3 REITs To Buy Today Macroeconomics trumps politics. REITs are cheap and set to benefit from rate cuts. Here are 3 REITs that win no matter what. seekingalpha.com - 6 days ago
Buy The Dip: Big Dividend Growth Stocks Getting Way Too Cheap High-yield dividend growth stocks have been on a strong run over the past four months. However, there are several that have not participated in the rally and have even dipped sharply in some cases. We share three examples of high-yielding dividend growers that have strong outlooks but are deeply discounted due to short-term issues. seekingalpha.com - 6 days ago
My Top 10 High Dividend Yield Companies For November 2024: 2 Yield More Than 8% I will highlight 10 high dividend yield companies which, I believe, are worth considering investing in for November 2024. Each company could increase your portfolio's ability to generate dividend income due to having an elevated Dividend Yield. I believe that the selected companies can deliver investors sustainable dividend income, evidenced by their relatively low Payout Ratios and strong track record of dividend enhancements. seekingalpha.com - 1 week ago
Rates Up, REITs Down! It's Opportunity Cost The recent 75 basis point rise in the 10-year treasury yield has led to a significant selloff in net lease REITs. Despite strong earnings, REITs like O and ADC have seen stock price declines due to increased opportunity costs from higher treasury yields. This market shift presents a buying opportunity for investors, as many REITs now offer higher dividend yields and discounted prices. seekingalpha.com - 1 week ago
NNN REIT Is Downplaying Emerging Tenant Troubles NNN REIT reported stable Q3 earnings, but the stock fell over 10% due to tenant issues, which management downplayed on the earnings call. NNN is likely to lose more than 2% of ABR as two tenants move to cash accounting, making the replacement of these rents critically important. Today, we explore NNN's business model and why the company could be downplaying these emerging issues. seekingalpha.com - 1 week ago
Big Dividend Blue-Chips: The More They Drop, The More I Buy My investment strategy centers on buying undervalued blue-chip big-dividend growth stocks. Fortunately, several of these have dropped recently, offering compelling opportunities for dividend investors. I discuss several high-yield dividend growth stocks with moated business models and strong balance sheets that I have been loading up on recently. seekingalpha.com - 1 week ago
What Has Just Happened To NNN REIT? I'm In The market wasn't satisfied with NNN's Q3 results, which resulted in a sell-off. However, I believe the results were solid and in line with management's expectations. One shouldn't expect high growth with NNN, as its uniquely defensive capital allocation strategy has a different approach. seekingalpha.com - 2 weeks ago
NNN REIT, Inc. (NNN) Q3 2024 Earnings Call Transcript NNN REIT, Inc. (NYSE:NNN ) Q3 2024 Earnings Conference Call October 31, 2024 10:30 AM ET Company Participants Steve Horn - CEO Kevin Habicht - CFO Conference Call Participants Joshua Dennerlein - Bank of America Merrill Lynch Michael Goldsmith - UBS Maddie Fargis - Citi Linda Tsai - Jefferies Ronald Kamdem - Morgan Stanley R.J. Milligan - Raymond James John Massocca - B. seekingalpha.com - 2 weeks ago
NNN REIT (NNN) Meets Q3 FFO Estimates NNN REIT (NNN) came out with quarterly funds from operations (FFO) of $0.84 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.82 per share a year ago. zacks.com - 2 weeks ago
Third Quarter 2024 Operating Results Announced by NNN REIT, Inc. ORLANDO, Fla. , Oct. 31, 2024 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and nine months ended September 30, 2024. prnewswire.com - 2 weeks ago
8. Profile Summary

National Retail Properties, Inc. NNN

image
COUNTRY US
INDUSTRY REIT - Retail
MARKET CAP $ 7.91 B
Dividend Yield 2.31%
Description National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.
Contact 450 South Orange Avenue, Orlando, FL, 32801 https://www.nnnreit.com
IPO Date Oct. 9, 1984
Employees 82
Officers Mr. Sam Khatib Director of Leasing & Asset Management Mr. Stephen A. Horn Jr. President, Chief Executive Officer & Director Mr. Matt Williams Senior Vice President of Underwriting Mr. Jonathan A. Adamo Executive Vice President of Portfolio Operations Ms. Margo Moeder Vice President of Human Resources Ms. Gina M. Steffens Executive Vice President, General Counsel & Secretary Ms. Michelle Lynn Miller Chief Accounting & Technology Officer and Executive Vice President Mr. Jon Adamo Senior Vice President of Acquisitions Mr. Christopher F. Barry Vice President of Corporate Communications & Investor Relations Ms. Mary Morrison Senior Vice President of Financial Reporting & Operations