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NATIONAL RETAIL PROPERTIES NYSE : NNN NEWS RELEASE For information contact : Kevin B. Habicht Chief Financial Officer ( 407 ) 265-7348 FOR IMMEDIATE RELEASE November 2 , 2021 THIRD QUARTER 2021 OPERATING RESULTS AND 2022 GUIDANCE ANNOUNCED BY NATIONAL RETAIL PROPERTIES , INC . Orlando , Florida , November 2 , 2021 – National Retail Properties , Inc. ( NYSE : NNN ) , a real estate investment trust , today announced its operating results for the quarter and nine months ended September 30 , 2021. Highlights include : Operating Results : • Revenues and net earnings , FFO , Core FFO and AFFO available to common stockholders and diluted per share amounts : Nine Months Ended September 30 , Quarter Ended September 30 , 2021 2020 2021 2020 ( in thousands , except per share data ) Revenues $ 180,357 $ 158,633 $ 539,146 $ 497,397 Net earnings available to common stockholders Net earnings per common share $ 78,448 $ 51,584 ( 1 ) $ 199,088 $ 154,057 ( 1 ) $ 0.45 $ 0.30 ( 1 ) $ 1.14 $ 0.89 ( 1 ) FFO available to common stockholders $ 124,621 $ FFO per common share $ 0.71 $ 106,423 $ 0.62 $ 347,304 $ 320,670 1.99 $ 1.87 Core FFO available to common stockholders $ Core FFO per common share $ 124,621 $ 0.71 $ 106,423 $ 0.62 $ 368,632 $ 337,349 2.11 $ 1.96 AFFO available to common stockholders $ AFFO per common share $ 131,753 ( 2 ) $ 0.75 ( 2 ) $ 106,690 ( 3 ) $ 0.62 ( 3 ) $ 399,660 ( 2 ) $ 2.29 ( 2 ) $ 311,680 ( 3 ) 1.81 ( 3 ) ( 1 ) Includes a write - off of $ 14,758 ( or $ 0.09 per share ) of receivables due to reclassifying certain tenants as cash basis for accounting purposes during the quarter and nine months ended September 30 , 2020 . ( 2 ) ( 3 ) Amounts include $ 4,294 and $ 21,996 of net straight - line accrued rent from rent deferral repayments from the COVID - 19 rent deferral lease amendments for the quarter and nine months ended September 30 , 2021 , respectively . Excluding such , AFFO per common share would have been $ 0.73 and $ 2.16 for the quarter and nine months ended September 30 , 2021 , respectively . Amounts exclude $ 8,499 and $ 38,938 of net straight - line accrued rent from rent deferral repayments from the COVID - 19 rent deferral lease amendments for the quarter and nine months ended September 30 , 2020 , respectively . Including such , AFFO per common share would have been $ 0.67 and $ 2.04 for the quarter and nine months ended September 30 , 2020 , respectively . Third Quarter 2021 Highlights : As of October 27 , 2021 , NNN had collected approximately 99 % of rent originally due for the quarter ended September 30 , 2021 , and approximately 99 % of rent originally due in October 2021 • Maintained high occupancy levels at 98.6 % , with a weighted average remaining lease term of 10.6 years , at • September 30 , 2021 as compared to 98.3 % at June 30 , 2021 and 98.5 % at December 31 , 2020 Invested $ 246.8 million in property investments , including the acquisition of 49 properties with an aggregate 561,000 square feet of gross leasable area at an initial cash yield of 6.4 % Sold 27 properties for $ 30.5 million producing $ 9.5 million of gains on sales 1