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Consider National Retail Properties' 5.3%-Preferred Stock Yield

Published Mon, 15 Apr 2019 16:27:42 -0400 on Seeking Alpha

National Retail Properties, Inc. (NNN) is a large, diversified commercial property REIT with an impressive dividend growth history. Most of the coverage regarding National Retail Properties revolves around the REIT's common stock. However, the real estate investment trust also has preferred stock outstanding that investors with a below-average risk tolerance may want to consider. An investment in the Series F, which I will discuss in this article, yields 5.3 percent.
Preferred Stock As An Alternative To The REIT's Common Stock
A couple of weeks ago I penned an article about the commercial property REIT titled "National Retail Properties: Why You Should Wait For A Drop Before Buying This 3.6%-Yielding REIT", citing valuation concerns. My article discussed the REIT's value proposition from the perspective of a common stock investor.
The REIT's preferred stock, however, makes a better value proposition, in my opinion. Specifically, National Retail Properties' 5.20% Series F Cumulative Redeemable Preferred Stock (NNN.PF) is an interesting alternative to the REIT's common stock.
National Retail Properties' preferred stock provides investors with a much higher degree of principal protection than the common stock since preferred stocks rank higher in the capital structure. As a result, the Series F preferred stock is a suitable investment vehicle specifically for income investors that like to dial down investment risk.
The Series F has shown much less volatility than... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
NATIONAL RETAIL PROPERTIES 54.39   35.8 1.52 2.06 3.81


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