Click Here To Download Our Most Recent Sure Analysis Report On National Retail Properties.pdf

NNN-2022-11-15.pdf
Preview of Click here to download our most recent Sure Analysis report on National Retail Properties
🔗 Source: suredividend.com
📊 Size: 323 KB
👤 Author: Ben Reynolds
⬇️ Downloads: 224

Summary

National Retail Properties (NNN) is a REIT with ~3,000 single-tenant, net-leased retail properties across the US, focused on retail customers due to their likelihood of accepting rent hikes. The company has consistent growth, low volatility, and high occupancy rates (typically 98%-99%). NNN reported Q3 earnings with 99.4% occupancy, a 10.4-year weighted average remaining lease term, and invested $223.1 million in property investments. The REIT has more than doubled its FFO since 2011 but has increased its share count, resulting in mid-single-digit FFO per share growth. The company's dividend yield is 4.9%, with 21 years of dividend growth, and a retirement suitability score of A. However, growth is expected to slow due to investment spread compression and the law of large numbers. The fair value price is estimated at $43.7, with a 5-year CAGR estimate of 5.7% and a 5-year growth estimate of 1.3%. The company's payout ratio is around 75% of FFO, and while the dividend is considered safe, the trust lacks durable competitive advantages and is impacted by recessions. The recommendation is to Hold, with estimated 5.7% annualized total returns over the next half decade.

Description

National Retail Properties (NNN) is a REIT with ~3,000 single-tenant, net-leased retail properties across the US, focused on retail customers due to their...

Technical Information

  • File Format: PDF
  • File Size: 323 KB
  • Pages: 3
  • Language: EN
  • Author: Ben Reynolds
  • Total Downloads: 224
  • Last Updated: 2 months ago

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