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By The Online Investor Staff, updated Thu., May. 23, 11:20 PM
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Secondary Stock Offerings| This Slide: #2 of 25 |
Slide #2. National Retail Properties, Inc. — Secondary Offering
Company:
National Retail Properties, Inc. (NYSE:NNN)
Date announced:
5/22/2013
Security type:
5.70% Series E Cumulative Redeemable Preferred Stock (NNN.PRE)
Shares Offered:
10,000,000
Date of Pricing:
5/23/2013
Price Per Share:
$25
Secondary Offering Details:
National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has commenced an underwritten public offering of depositary shares, each representing a 1/100th interest in a share of its newly designated Series E Cumulative Redeemable Preferred Stock. As part of the offering, the Company also expects to grant the underwriters a 30-day option to purchase an additional 15 percent of the depositary shares initially offered. The Company intends to apply to list the depositary shares on the New York Stock Exchange under the symbol "NNNPRE". If its application is approved, the Company expects trading of the depositary shares on the New York Stock Exchange to commence within the 30-day period after the initial delivery of the depositary shares. --updated 5/22 - National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has priced an underwritten public offering of 10,000,000 depositary shares, each representing a 1/100th interest in a share of its newly designated 5.70% Series E Cumulative Redeemable Preferred Stock, at a price of $25.00 per depositary share. As part of the offering, the Company granted the underwriters a 30-day option to purchase an additional 1,500,000 depositary shares to cover over-allotments, if any. The offering is expected to close on or about May 30, 2013, subject to customary closing conditions. The Company intends to apply to list the depositary shares on the New York Stock Exchange under the symbol "NNNPRE". If its application is approved, the Company expects trading of the depositary shares on the New York Stock Exchange to commence within the 30-day period after the initial delivery of the depositary shares.
National Retail Properties is an integrated real estate investment trust. Co.'s assets include real estate assets, mortgages and notes receivable, and commercial mortgage residual interests. Co. acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of Dec 31 2012, Co. owned 1,622 properties with an aggregate gross leasable area of 19,168,000 sq. ft., located in 47 states.
Preferred: NNN.PRD
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Avg. Broker Rec.
 
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Buy (2.60 out of 4) 31st percentile
(ranked lower than approx. 69% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
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