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NATIONAL RETAIL NN PROPERTIES NYSE : NNN NEWS RELEASE For information contact : Kevin B. Habicht Chief Financial Officer ( 407 ) 265-7348 FIRST QUARTER 2021 OPERATING RESULTS ANNOUNCED BY NATIONAL RETAIL PROPERTIES , INC . Orlando , Florida , May 4 , 2021 - National Retail Properties , Inc. ( NYSE : NNN ) , a real estate investment trust , today announced its operating results for the quarter ended March 31 , 2021. Highlights include : Revenues Operating Results : • Revenues and net earnings , FFO , Core FFO and AFFO available to common stockholders and diluted per Net earnings available to common stockholders Net earnings per common share FFO available to common stockholders FFO per common share Core FFO available to common stockholders Core FFO per common share AFFO available to common stockholders AFFO per common share $ $ $ $ FOR IMMEDIATE RELEASE May 4 , 2021 $ $ $ $ $ 2021 Quarter Ended March 31 , 2020 ( in thousands , except per share data ) 179,778 $ 52,102 $ 0.30 $ 99,821 $ 0.57 $ 121,149 0.69 share amounts : $ $ 133,532 ( ¹ ) 0.76 ( ¹ ) $ 175,063 60,693 0.35 102,509 0.60 119,188 0.70 121,750 0.71 ( ¹ ) Amounts include $ 9,385 of net straight - line accrued rent from rent deferral repayments from the COVID - 19 rent deferral lease amendments . Excluding such , AFFO per common share would have been $ 0.71 for the quarter ended March 31 , 2021 . First Quarter 2021 Highlights : As of April 28 , 2021 , NNN had collected approximately 97 % of rent originally due for the quarter ended March 31 , 2021 , and approximately 98 % of rent originally due in April 2021 Collected approximately $ 2.2 million of receivables written - off in 2020 from cash basis tenants Maintained high occupancy levels at 98.3 % , with a weighted average remaining lease term of 10.6 years , at March 31 , 2021 as compared to 98.5 % at December 31 , 2020 and 98.8 % at March 31 , 2020 Invested $ 105.6 million in property investments , including the acquisition of 29 properties with an aggregate 355,000 square feet of gross leasable area at an initial cash yield of 6.4 % Sold 11 properties for $ 17.6 million producing $ 4.3 million of gains on sales Issued $ 450 million principal amount of 3.500 % senior unsecured notes due 2051 Redeemed $ 350 million principal amount of 3.300 % senior unsecured notes due 2023 Weighted average debt maturity increased to 13.3 years at March 31 , 2021 Ended the quarter with $ 311.2 million of cash and no amounts drawn on the $ 900 million bank credit facility