Le Lézard
Classified in: Business, Covid-19 virus
Subjects: ERN, ERP

SECOND QUARTER 2022 OPERATING RESULTS AND INCREASED 2022 GUIDANCE ANNOUNCED BY NATIONAL RETAIL PROPERTIES, INC.


ORLANDO, Fla., Aug. 3, 2022 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and six months ended June 30, 2022.  Highlights include:

Operating Results:



Quarter Ended
June 30,



Six Months Ended
June 30,





2022



2021



2022



2021





(in thousands, except per share data)



Revenues


$

190,783



$

179,011



$

381,062



$

358,789

















Net earnings available to common stockholders


$

74,171



$

68,538



$

155,543



$

120,640



Net earnings per common share


$

0.42



$

0.39



$

0.89



$

0.69

















FFO available to common stockholders


$

135,353



$

122,862



$

266,946



$

222,683



FFO per common share


$

0.77



$

0.70



$

1.53



$

1.27

















Core FFO available to common stockholders


$

138,008



$

122,862



$

273,195



$

244,011



Core FFO per common share


$

0.79



$

0.70



$

1.56



$

1.40

















AFFO available to common stockholders


$

142,103


(1)

$

134,375


(2)

$

280,824


(1)

$

267,908


(2)

AFFO per common share


$

0.81


(1)

$

0.77


(2)

$

1.60


(1)

$

1.53


(2)




(1)


Amounts include $1,729 and $3,509 of net straight-line accrued rent from net rent deferral repayments from the COVID-19 rent deferral lease amendments for the quarter and six months ended June 30, 2022, respectively. Excluding such, AFFO per common share would have been $0.80 and $1.58 for the quarter and six months ended June 30, 2022, respectively.




(2)


Amounts include $8,323 and $17,706 of net straight-line accrued rent from net rent deferral repayments from the COVID-19 rent deferral lease amendments for the quarter and six months ended June 30, 2021, respectively. Excluding such, AFFO per common share would have been $0.72 and $1.43 for the quarter and six months ended June 30, 2021, respectively.

Second Quarter 2022 Highlights:

First Half of 2022 Highlights:

Core FFO guidance for 2022 was increased from a range of $3.01 to $3.08 per share to a range of $3.07 to $3.12 per share. The 2022 AFFO is estimated to be $3.14 to $3.19 per share. The Core FFO guidance equates to net earnings of $1.83 to $1.88 per share, plus $1.24 per share of expected real estate depreciation and amortization and excludes any gains from the sale of real estate, charges for impairments and executive retirement costs. The guidance is based on current plans and assumptions and subject to risks and uncertainties more fully described in this press release and the company's reports filed with the Securities and Exchange Commission.

Steve Horn, Chief Executive Officer, commented: "National Retail Properties saw continued operational momentum through the second quarter of 2022, highlighted by the selective acquisition of just over $150 million in new properties.  In July, we increased our common stock dividend by nearly four percent to 55 cents per share, while preserving our low dividend payout ratio, marking our 33rd consecutive year of increased annual dividends, a feat matched by only two other REITs and by fewer than 90 public companies in the United States."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of June 30, 2022, the company owned 3,305 properties in 48 states with a gross leasable area of approximately 33.8 million square feet and with a weighted average remaining lease term of 10.6 years.  For more information on the company, visit www.nnnreit.com.

Management will hold a conference call on August 3, 2022, at 10:30 a.m. ET to review these results.  The call can be accessed on the National Retail Properties web site live at http://www.nnnreit.com.  For those unable to listen to the live broadcast, a replay will be available on the company's web site.  In addition, a summary of any earnings guidance given on the call will be posted to the company's web site.

Statements in this press release that are not strictly historical are "forward-looking" statements.  These statements generally are characterized by the use of terms such as "believe," "expect," "intend," "may," "estimated," or other similar words or expressions. Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results.  These risks include, among others, the potential impacts of the COVID-19 pandemic on the company's business operations, financial results and financial position and on the world economy, general economic conditions, local real estate conditions, changes in interest rates, increases in operating costs, the preferences and financial condition of the company's tenants, the availability of capital, and, risks related to the company's status as a REIT.  Additional information concerning these and other factors that could cause actual results to differ materially from these forward-looking statements is contained from time to time in the company's Securities and Exchange Commission (the "Commission") filings, including, but not limited to, the company's (i) Annual Report on Form 10-K for the year ended December 31, 2021 and (ii) Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022.  Copies of each filing may be obtained from the company or the Commission.  Such forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates.  Actual operating results may differ materially from what is expressed or forecast in this press release.  National Retail Properties, Inc. undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

Funds From Operations, commonly referred to as FFO, is a relative non-GAAP financial measure of operating performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP.  FFO is defined by the National Association of Real Estate Investment Trusts ("NAREIT") and is used by the company as follows:  net earnings (computed in accordance with GAAP) plus depreciation and amortization of assets unique to the real estate industry, excluding gains (or including losses), any applicable taxes and noncontrolling interests on the disposition of certain assets, the company's share of these items from the company's unconsolidated partnerships and any impairment charges on a depreciable real estate asset.

FFO is generally considered by industry analysts to be the most appropriate measure of performance of real estate companies.  FFO does not necessarily represent cash provided by operating activities in accordance with GAAP and should not be considered an alternative to net earnings as an indication of the company's performance or to cash flow as a measure of liquidity or ability to make distributions.  Management considers FFO an appropriate measure of performance of an equity REIT because it primarily excludes the assumption that the value of the real estate assets diminishes predictably over time, and because industry analysts have accepted it as a performance measure.  The company's computation of FFO may differ from the methodology for calculating FFO used by other equity REITs, and therefore, may not be comparable to such other REITs.  A reconciliation of net earnings (computed in accordance with GAAP) to FFO, as defined by NAREIT, is included in the financial information accompanying this release.

Core Funds From Operations ("Core FFO") is a non-GAAP measure of operating performance that adjusts FFO to eliminate the impact of certain GAAP income and expense amounts that the company believes are infrequent and unusual in nature and/or not related to its core real estate operations.  Exclusion of these items from similar FFO-type metrics is common within the REIT industry, and management believes that presentation of Core FFO provides investors with a potential metric to assist in their evaluation of the company's operating performance across multiple periods and in comparison to the operating performance of its peers because it removes the effect of unusual items that are not expected to impact the company's operating performance on an ongoing basis.  Core FFO is used by management in evaluating the performance of the company's core business operations and is a factor in determining management compensation.  Items included in calculating FFO that may be excluded in calculating Core FFO may include items such as transaction related gains, income or expense, impairments on land or commercial mortgage residual interests, preferred stock redemption costs, executive retirement costs, loss on early extinguishment of debt or other non-core amounts as they occur.   The company's computation of Core FFO may differ from the methodology for calculating Core FFO used by other equity REITs, and therefore, may not be comparable to such other REITs. A reconciliation of net earnings (computed in accordance with GAAP) to Core FFO is included in the financial information accompanying this release.

Adjusted Funds From Operations ("AFFO") is a non-GAAP financial measure of operating performance used by many companies in the REIT industry. AFFO adjusts FFO for certain non-cash items that reduce or increase net income in accordance with GAAP.  AFFO should not be considered an alternative to net earnings, as an indication of the company's performance or to cash flow as a measure of liquidity or ability to make distributions. Management considers AFFO a useful supplemental measure of the company's performance.  The company's computation of AFFO may differ from the methodology for calculating AFFO used by other equity REITs, and therefore, may not be comparable to such other REITs.  A reconciliation of net earnings (computed in accordance with GAAP) to AFFO is included in the financial information accompanying this release.

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)




Quarter Ended
June 30,



Six Months Ended
June 30,





2022



2021



2022



2021



Income Statement Summary














Revenues:














Rental income


$

190,536



$

178,004



$

380,299



$

357,202



Interest and other income from real estate transactions



247




1,007




763




1,587






190,783




179,011




381,062




358,789

















Operating expenses:














General and administrative



9,740




11,868




20,782




23,616



Real estate



6,173




6,619




13,371




14,344



Depreciation and amortization



57,444




50,875




110,124




100,855



Leasing transaction costs



76




22




164




60



Impairment losses ? real estate, net of recoveries



4,618




7,735




6,250




9,866



Executive retirement costs



2,655




?




6,249




?






80,706




77,119




156,940




148,741



Gain on disposition of real estate



775




4,181




4,767




8,462



Earnings from operations



110,852




106,073




228,889




218,510

















Other expenses (revenues):














Interest and other income



(52)




(33)




(87)




(98)



Interest expense



36,739




33,085




73,438




67,672


(1)

Loss on early extinguishment of debt



?




?




?




21,328






36,687




33,052




73,351




88,902

















Net earnings



74,165




73,021




155,538




129,608



Loss attributable to noncontrolling interests



6




2




5




2

















Net earnings attributable to NNN



74,171




73,023




155,543




129,610



Series F preferred stock dividends



?




(4,485)




?




(8,970)



Net earnings available to common stockholders


$

74,171



$

68,538



$

155,543



$

120,640

















Weighted average common shares outstanding:














Basic



174,957




174,611




174,867




174,600



Diluted



175,108




174,727




175,022




174,733

















Net earnings per share available to common stockholders:














Basic


$

0.42



$

0.39



$

0.89



$

0.69



Diluted


$

0.42



$

0.39



$

0.89



$

0.69



(1)


Includes $2,078 in connection with the redemption of 3.30% senior unsecured notes due 2023 for the six months ended June 30, 2021.

 

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)




Quarter Ended
June 30,



Six Months Ended
June 30,





2022



2021



2022



2021



Funds From Operations (FFO) Reconciliation:














Net earnings available to common stockholders


$

74,171



$

68,538



$

155,543



$

120,640



Real estate depreciation and amortization



57,339




50,770




109,920




100,639



Gain on disposition of real estate



(775)




(4,181)




(4,767)




(8,462)



Impairment losses ? depreciable real estate, net of recoveries



4,618




7,735




6,250




9,866



Total FFO adjustments



61,182




54,324




111,403




102,043



FFO available to common stockholders


$

135,353



$

122,862



$

266,946



$

222,683

















FFO per common share:














Basic


$

0.77



$

0.70



$

1.53



$

1.28



Diluted


$

0.77



$

0.70



$

1.53



$

1.27

















Core Funds From Operations (Core FFO) Reconciliation:














Net earnings available to common stockholders


$

74,171



$

68,538



$

155,543



$

120,640



Total FFO adjustments



61,182




54,324




111,403




102,043



FFO available to common stockholders



135,353




122,862




266,946




222,683

















Executive retirement costs



2,655




?




6,249




?



Loss on early extinguishment of debt



?




?




?




21,328



Total Core FFO adjustments



2,655




?




6,249




21,328



Core FFO available to common stockholders


$

138,008



$

122,862



$

273,195



$

244,011

















Core FFO per common share:














Basic


$

0.79



$

0.70



$

1.56



$

1.40



Diluted


$

0.79



$

0.70



$

1.56



$

1.40



 

National Retail Properties, Inc.

(in thousands, except per share data)

(unaudited)




Quarter Ended
June 30,



Six Months Ended
June 30,





2022



2021



2022



2021



Adjusted Funds From Operations (AFFO) Reconciliation:














Net earnings available to common stockholders


$

74,171



$

68,538



$

155,543



$

120,640



Total FFO adjustments



61,182




54,324




111,403




102,043



Total Core FFO adjustments



2,655




?




6,249




21,328



Core FFO available to common stockholders



138,008




122,862




273,195




244,011

















Straight-line accrued rent, net of reserves



1,547




7,359




2,643




15,692



Net capital lease rent adjustment



74




95




149




185



Below-market rent amortization



(140)




(112)




(280)




(274)



Stock based compensation expense



2,790




4,235




5,391




8,421



Capitalized interest expense



(176)




(64)




(274)




(127)



Total AFFO adjustments



4,095




11,513




7,629




23,897



AFFO available to common stockholders


$

142,103


(1)

$

134,375


(2)

$

280,824


(1)

$

267,908


(2)















AFFO per common share:














Basic


$

0.81


(1)

$

0.77


(2)

$

1.61


(1)

$

1.53


(2)

Diluted


$

0.81


(1)

$

0.77


(2)

$

1.60


(1)

$

1.53


(2)















Other Information:














Rental income from operating leases(3)


$

185,791



$

173,371



$

370,102



$

346,954



Earned income from direct financing leases(3)


$

150



$

157



$

301



$

315



Percentage rent(3)


$

295



$

231



$

996



$

335

















Real estate expense reimbursement from tenants(3)


$

4,300



$

4,245



$

8,900



$

9,598



Real estate expenses



(6,173)




(6,619)




(13,371)




(14,344)



Real estate expenses, net of tenant reimbursements


$

(1,873)



$

(2,374)



$

(4,471)



$

(4,746)

















Amortization of debt costs


$

1,178



$

1,042



$

2,349



$

2,882


(4)

Scheduled debt principal amortization (excluding maturities)


$

163



$

155



$

328



$

312



Non-real estate depreciation expense


$

108



$

108



$

210



$

222



(1)

Amounts include $1,729 and $3,509 of net straight-line accrued rent from net rent deferral repayments from the COVID-19 rent deferral lease amendments for the quarter and six months ended June 30, 2022, respectively. Excluding such, AFFO per common share would have been $0.80 and $1.58 for the quarter and six months ended June 30, 2022, respectively.



(2)

Amounts include $8,323 and $17,706 of net straight-line accrued rent from net rent deferral repayments from the COVID-19 rent deferral lease amendments for the quarter and six months ended June 30, 2021, respectively. Excluding such, AFFO per common share would have been $0.72 and $1.43 for the quarter and six months ended June 30, 2021, respectively.



(3)

For the quarter and six months ended June 30, 2022, the aggregate of such amounts is $190,536 and $380,299, respectively, and is classified as rental income on the income statement summary. For the quarter and six months ended June 30, 2021, the aggregate of such amounts is $178,004 and $357,202, respectively.



(4)

Includes $745 in connection with the redemption of the 3.30% senior unsecured notes due 2023 for the six months ended June 30, 2021.



National Retail Properties, Inc.

2022 Earnings Guidance

Guidance is based on current plans and assumptions and subject to risks and uncertainties more fully described in this press release and the company's reports filed with the Commission.



2022 Guidance

Net earnings per common share excluding any gains on disposition
    of real estate, impairment charges, and executive retirement costs


$1.83 - $1.88 per share

Real estate depreciation and amortization per share


$1.24 per share

Core FFO per share


$3.07 - $3.12 per share

AFFO per share(1)


$3.14 - $3.19 per share

General and administrative expenses


$40 - $42 Million

Real estate expenses, net of tenant reimbursements


$9 - $11 Million

Acquisition volume


$600 - $700 Million

Disposition volume


$80 - $100 Million




(1)


Estimates include the net straight-line accrued rent impact of the net rent repayment from the COVID-19 rent deferral lease amendments of $5.4 million for 2022. Excluding such, AFFO per common share guidance would have been $3.11 - $3.16 for 2022.

 

National Retail Properties, Inc.

(in thousands)

(unaudited)




June 30,
2022



December 31,
2021


Balance Sheet Summary














Assets:







Real estate portfolio


$

7,674,508



$

7,444,289


Real estate held for sale



3,461




5,557


Cash and cash equivalents



3,289




171,322


Receivables, net of allowance of $699 and $782, respectively



2,612




3,154


Accrued rental income, net of allowance of $4,090 and $4,587, respectively



29,065




31,942


Debt costs, net of accumulated amortization of $20,515 and $19,377, respectively



6,427




7,443


Other assets



84,893




87,347


Total assets


$

7,804,255



$

7,751,054









Liabilities:







Line of credit payable


$

40,000



$

?


Mortgages payable, including unamortized premium and net of unamortized debt cost



10,334




10,697


Notes payable, net of unamortized discount and unamortized debt costs



3,737,808




3,735,769


Accrued interest payable



23,178




23,923


Other liabilities



77,409




79,002


Total liabilities



3,888,729




3,849,391









Stockholders' equity of NNN



3,915,526




3,901,662


Noncontrolling interests



?




1


Total equity



3,915,526




3,901,663









Total liabilities and equity


$

7,804,255



$

7,751,054









Common shares outstanding



176,615




175,636









Gross leasable area, Property Portfolio (square feet)



33,758




32,753


 

National Retail Properties, Inc.

Debt Summary

As of June 30, 2022

(in thousands)

(unaudited)


Unsecured Debt


Principal



Principal,
Net of
Unamortized
Discount



Stated
Rate



Effective
Rate



Maturity Date

Line of credit payable


$

40,000



$

40,000



L + 77.5 bps




2.038

%


June 2025
















Unsecured notes payable:















2024



350,000




349,840




3.900

%



3.924

%


June 2024

2025



400,000




399,633




4.000

%



4.029

%


November 2025

2026



350,000




348,103




3.600

%



3.733

%


December 2026

2027



400,000




399,075




3.500

%



3.548

%


October 2027

2028



400,000




398,075




4.300

%



4.388

%


October 2028

2030



400,000




398,980




2.500

%



2.536

%


April 2030

2048



300,000




296,019




4.800

%



4.890

%


October 2048

2050



300,000




294,224




3.100

%



3.205

%


April 2050

2051



450,000




441,802




3.500

%



3.602

%


April 2051

2052



450,000




439,737




3.000

%



3.118

%


April 2052

Total



3,800,000




3,765,488

























Total unsecured debt(1)


$

3,840,000



$

3,805,488

























Debt costs





$

(38,145)










Accumulated amortization




10,465










Debt costs, net of accumulated amortization




(27,680)










Notes payable, net of unamortized discount and
    unamortized debt costs



$

3,737,808




(1)


Unsecured notes payable have a weighted average interest rate of 3.7% and a weighted average maturity of 14.2 years.

 

Mortgages Payable


Principal
Balance



Interest
Rate



Maturity Date

Mortgage(1)


$

10,347




5.230

%


July 2023










Debt costs



(147)







Accumulated amortization



134







Debt costs, net of accumulated amortization



(13)







Mortgages payable, including unamortized
    premium and net of unamortized debt costs


$

10,334


















(1)


Includes unamortized premium




As of June 30, 2022, Debt / EBITDA based on current quarter EBITDA annualized is 5.4x.

National Retail Properties, Inc.
Debt Summary ? Continued
As of June 30, 2022
(unaudited)

Credit Facility and Note Covenants

The following is a summary of key financial covenants for the company's unsecured credit facility and notes, as defined and calculated per the terms of the facility's credit agreement and the notes' governing documents, respectively, which are included in the company's filings with the Commission. These calculations, which are not based on U.S. GAAP measurements, are presented to investors to show that as of June 30, 2022, the company believes it is in compliance with the covenants.

Unsecured Credit Facility Key Covenants


Required


June 30, 2022

Maximum leverage ratio


< 0.60


0.36

Minimum fixed charge coverage ratio


> 1.50


4.59

Maximum secured indebtedness ratio


< 0.40


0.001

Unencumbered asset value ratio


> 1.67


2.79

Unencumbered interest ratio


> 1.75


4.82






Unsecured Notes Key Covenants


Required


June 30, 2022

Limitation on incurrence of total debt


? 60%


40 %

Limitation on incurrence of secured debt


? 40%


0.1 %

Debt service coverage ratio


? 1.50


4.67

Maintenance of total unencumbered assets


? 150%


247 %

 

National Retail Properties, Inc.

Property Portfolio

Top 20 Lines of Trade






As of June 30,



Lines of Trade


2022(1)


2021(2)

1.


Convenience stores


17.0 %


18.0 %

2.


Automotive service


13.1 %


11.4 %

3.


Restaurants ? full service


9.6 %


9.9 %

4.


Restaurants ? limited service


9.2 %


9.2 %

5.


Family entertainment centers


6.2 %


6.1 %

6.


Health and fitness


5.0 %


5.2 %

7.


Theaters


4.3 %


4.6 %

8.


Recreational vehicle dealers, parts and accessories


4.2 %


3.5 %

9.


Equipment rental


3.2 %


3.2 %

10.


Automotive parts


2.9 %


3.1 %

11.


Home improvement


2.4 %


2.6 %

12.


Wholesale clubs


2.4 %


2.5 %

13.


Furniture


2.4 %


1.6 %

14.


Medical service providers


2.0 %


2.2 %

15.


General merchandise


1.6 %


1.7 %

16.


Home furnishings


1.5 %


1.6 %

17.


Travel plazas


1.5 %


1.5 %

18.


Consumer electronics


1.5 %


1.6 %

19.


Automobile auctions, wholesale


1.2 %


1.1 %

20.


Drug stores


1.2 %


1.4 %



Other


7.6 %


8.0 %



Total


100.0 %


100.0 %

 

Top 10 States




State


% of
Total(1)




State


% of
Total(1)

1.


Texas


17.0 %


6.


North Carolina


4.2 %

2.


Florida


8.9 %


7.


Indiana


3.9 %

3.


Illinois


5.4 %


8.


Tennessee


3.8 %

4.


Ohio


5.4 %


9.


Virginia


3.4 %

5.


Georgia


4.7 %


10.


California


3.3 %

As a percentage of annual base rent, which is the annualized base rent for all leases in place.


(1)

$738,670,000 as of June 30, 2022.


(2)

$689,364,000 as of June 30, 2021.

 

National Retail Properties, Inc.

Property Portfolio ? Continued


Top 20 Tenants




Tenant


# of
Properties


% of
Total(1)

1.


7-Eleven


138


4.9 %

2.


Mister Car Wash


121


4.5 %

3.


Camping World


47


4.1 %

4.


LA Fitness


30


3.5 %

5.


GPM Investments (Convenience Stores)


152


3.3 %

6.


Dave & Buster's


29


3.1 %

7.


Flynn Restaurant Group (Taco Bell/Arby's)


204


3.0 %

8.


AMC Theatre


20


2.8 %

9.


BJ's Wholesale Club


12


2.4 %

10.


Mavis Tire Express Services


133


2.2 %

11.


Sunoco


59


2.2 %

12.


Chuck E. Cheese's


53


2.0 %

13.


Couche Tard (Pantry)


71


1.8 %

14.


Frisch's Restaurants


69


1.8 %

15.


Fikes (Convenience Stores)


59


1.7 %

16.


Life Time Fitness


3


1.5 %

17.


Bob Evans


106


1.4 %

18.


Best Buy


16


1.4 %

19.


Ahern Rentals


39


1.4 %

20.


Pull-A-Part


20


1.3 %

 

Lease Expirations(2)




% of
Total(1)


# of
Properties


Gross
Leasable
Area(3)




% of
Total(1)


# of
Properties


Gross
Leasable
Area(3)

2022


0.5 %


14


232,000


2028


4.7 %


165


1,368,000

2023


2.2 %


102


1,241,000


2029


3.0 %


81


1,025,000

2024


3.2 %


92


1,447,000


2030


3.6 %


107


1,205,000

2025


5.7 %


188


1,992,000


2031


8.2 %


190


2,781,000

2026


5.4 %


216


2,136,000


2032


6.4 %


219


2,151,000

2027


8.7 %


236


3,596,000


Thereafter


48.4 %


1,665


14,352,000

(1)


Based on the annual base rent of $738,670,000, which is the annualized base rent for all leases in place as of June 30, 2022.

(2)


As of June 30, 2022, the weighted average remaining lease term is 10.6 years.

(3)


Square feet.




National Retail Properties, Inc.
Rent Deferral Lease Amendments
(in thousands)

The following table outlines the rent deferred and corresponding scheduled repayment of the COVID-19 rent deferral lease amendments executed as of June 30, 2022 (dollars in thousands):




Deferred




Scheduled Repayment





Accrual
Basis



Cash
Basis



Total



% of
Total




Accrual
Basis



Cash
Basis



Total



% of
Total



Cumulative
Total


2020



$

33,594



$

18,425



$

52,019




91.7

%



$

3,239



$

20



$

3,259




5.7

%



5.7

%































2021




990




3,768




4,758




8.3

%




25,935




5,841




31,776




56.0

%



61.7

%































2022

Q1



?




?




?




?





1,780




2,283




4,063




7.2

%



68.9

%


Q2



?




?




?




?





1,729




2,284




4,013




7.1

%



76.0

%


Q3



?




?




?




?





1,201




2,284




3,485




6.1

%



82.1

%


Q4



?




?




?




?





681




2,284




2,965




5.2

%



87.3

%





?




?




?




?





5,391




9,135




14,526




25.6

%



87.3

%































2023

Q1



?




?




?




?





9




1,704




1,713




2.9

%



90.2

%


Q2



?




?




?




?





10




543




553




1.0

%



91.2

%


Q3



?




?




?




?





?




543




543




1.0

%



92.2

%


Q4



?




?




?




?





?




544




544




1.0

%



93.2

%





?




?




?




?





19




3,334




3,353




5.9

%



93.2

%































2024




?




?




?




?





?




1,932




1,932




3.4

%



96.6

%































2025




?




?




?




?





?




1,931




1,931




3.4

%



100.0

%


































$

34,584



$

22,193



$

56,777







$

34,584



$

22,193



$

56,777








 

(PRNewsfoto/National Retail Properties, Inc.)

 

SOURCE National Retail Properties, Inc.


These press releases may also interest you

at 17:20
The Limestone Boat Company Limited (the "Company") ? owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats ? today reports its financial results for the three and nine months ended September 30, 2022 ("Q3 FY 2022"). All dollar...

at 17:17
Salesforce , the global leader in CRM, today unveiled its 2022 Cyber Week figures, analyzing shopping data from over 1.5...

at 17:14
Gross profit continues to improve with the shift in product mix SUMMARY Revenue totaled $24.1 million in the three months ended September 30, 2022, including incremental sales in the quarter from higher margin product categories such as plant-based...

at 17:11
Noble Corporation plc ("Noble") hereby announces the publication of a current report on Form 8-K regarding the entry into of a new term facility agreement among The Drilling Company of 1972 A/S, as the Borrower (the "Borrower"), Noble, as parent...

at 17:10
Cambridge-Lee Holdings, Inc, has announced its unaudited consolidated results for the third quarter of 2022. CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES (A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.) CONSOLIDATED BALANCE SHEETS...

at 17:10
The Amherst Group, LLC ("Amherst"), a real estate investment, development and operating platform, is proud to announce the launch of the firm's inaugural "Day of Giving Back." Amherst's Day of Giving Back, taking place on Thursday, December 8, will...



News published on 3 august 2022 at 08:30 and distributed by: