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2024-01-22 17:38 EX - 99.1 2 nnn - 8xkx06302021xexhibit991.htm EX - 99.1 NATIONAL RETAIL PROPERTIES NYSE : NNN NEWS RELEASE For information contact : Kevin B. Habicht Chief Financial Officer Document ( 407 ) 265-7348 FOR IMMEDIATE RELEASE August 3 , 2021 SECOND QUARTER 2021 OPERATING RESULTS AND INCREASED 2021 GUIDANCE ANNOUNCED BY NATIONAL RETAIL PROPERTIES , INC . Orlando , Florida , August 3 , 2021 – 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 , 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 June 30 , Six Months Ended June 30 , 2021 2020 2021 2020 Revenues 179,011 $ ( in thousands , except per share data ) 163,701 $ 358,789 $ 338,764 Net earnings available to common stockholders Net earnings per common share 68,538 $ 41,780 $ 120,640 $ 102,473 0.39 $ 0.24 $ 0.69 $ 0.60 FFO available to common stockholders $ 122,862 $ 111,738 $ 222,683 $ 214,247 FFO per common share 0.70 $ 0.65 1.27 $ 1.25 Core FFO available to common stockholders 122,862 Core FFO per common share $ $ 0.70 $ 111,738 $ 244,011 $ 230,926 0.65 $ 1.40 $ 1.35 AFFO available to common stockholders AFFO per common share 134,375 ( 1 ) $ 0.77 ( 1 ) $ 83,240 ( 2 ) $ 0.49 ( 2 ) $ 267,908 ( 1 ) $ 204,990 ( 2 ) 1.53 ( 1 ) $ ( 1 ) Amounts include $ 8,323 and $ 17,706 of net straight - line accrued rent from 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 . ( 2 ) Amounts exclude $ 30,223 of net straight - line accrued rent from rent deferral repayments from the COVID - 19 rent deferral lease amendments . Including such , AFFO per common share would have been $ 0.66 and $ 1.37 for the quarter and six months ended June 30 , 2020 , respectively . 1.20 ( 2 ) Second Quarter 2021 Highlights : • • As of July 28 , 2021 , NNN had collected approximately 99 % of rent originally due for the quarter ended June 30 , 2021 , and approximately 99 % of rent originally due in July 2021 Maintained high occupancy levels at 98.3 % , with a weighted average remaining lease term of 10.6 years , at June 30 , 2021 as compared to 98.3 % at March 31 , 2021 and 98.5 % at December 31 , 2020 Invested $ 102.9 million in property investments , including the acquisition of 29 properties with an aggregate 173,000 square feet of gross leasable area at an initial cash yield of 6.7 % . Sold 15 properties for $ 22.9 million producing $ 4.2 million of gains on sales https://www.sec.gov/Archives/edgar/data/751364/000075136421000091/nnn-8xkx06302021xexhibit991.htm 1/16