National Retail Properties priced the public offering of 4.75 million shares of common stock at $38.16 a share. The underwriters of the offering have a 30-day option to buy up to 715,000 additional shares of common stock.
The company said it plans to use the net proceeds from the offering to repay outstanding indebtedness under its credit facility. National Retail Properties will use ant remaining net proceeds to fund future property acquisitions and for general corporate purchases.
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TheStreet Ratings team rates NATIONAL RETAIL PROPERTIES as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate NATIONAL RETAIL PROPERTIES (NNN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share, revenue growth, expanding profit margins and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."