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National Retail Properties Inc., known by the ticker symbol NNN,  is a mid-cap Retail Real Estate Investment Trust, operating in the real estate business sector. This is my first report on National Retail Properties  (NNN)  for this Viital portfolio. I have not reported on the company for any of my previous six portfolios.

National Retail Properties Inc is a real estate investment trust that invests in and develops properties throughout the United States. 

The company generates revenue from leasing properties to tenants, including convenience stores, automotive services, fitness centers, theatres, restaurants, and banks. 

Rents from convenience stores and restaurants contribute the Most significant proportion of total revenue, followed by automotive services, entertainment venues, and others. Most of the company's properties are located in the South and Southeast of the United States.

As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

The company is headquartered in Orlando FL

Three key data points gauge any dividend equity or fund such as National Retail Properties Inc (NNN):

(1) Price

(2) Dividends

(3) Returns

Those three basic keys best tell whether any company has made, is making, and will make money. 

NNN Price

National's price per share was $44.19 as of yesterday's market close. One year ago its price was $44.06. Therefore, National's share price barely changed in the past year. 

If National's stock trades in the range of $40.00 to $50.00 this next year, its recent $44.19 share price might rise by $4.81 to reach $49.00 by March 28, 2023. My $4.81 estimate is the same as the median target price estimates from the dozen analysts covering NNN for their various brokerage firms. 

NNN Dividends 

National's most recent quarterly dividend of $0.53 was paid on February 15 to shareholders on record as of January 28th.  If paying the same rate holds true for the coming quarters, the resulting annual dividend payout per share of $2.12 yields 4.8% at yesterday's $44.19 closing price. 

NNN has paid regular quarterly payouts since May 1997. That stretch marks 25 years next month.

NNN Returns

Adding the $2.12 National Retail Properties Inc annual dividend to the estimated one-year price upside of $4.81 shows a $6.93 potential gross gain, per share, to be reduced by any costs to trade National shares.  

At yesterday's $44.19 price per share, a little over $1000 would buy 23 shares.

A $10 broker fee (if charged) would be paid half at purchase and half at the sale and might cost us about $0.43 per share.

Subtract that maybe $0.43 brokerage cost from my estimated $6.93 gross gain estimate per share results in a net gain of $6.50 X 23 shares = $149.50 for a 14.9% net gain on a $1,016.37 investment.

So it is that National Retail Properties Inc (NNN): shows a possible 14.9% net gain including a 6.29% forward-looking dividend yield. 

Over the next year at this time, our $1000 investment in National Retail Properties Inc (NNN) could generate $48.00 in cash dividends alone. Note that a single share of NNN stock bought at yesterday's single share price of $44.19 is almost  $4.00 under anticipated dividend income from our $1000.00 invested. So, by my dogcatcher ideal, now may be the time to buy National Retail Properties Inc (NNN) shares. The estimated next-year dividend from $1K invested is $3.81 greater than yesterday's single share price. Consider yourself alerted. It's a sign!  

All of the estimates above are speculation based on the past history of National Retail Properties Inc (NNN). Only time and money invested in this stock will determine its market value.