Intrinsic value of National Retail Properties - NNN

Previous Close

$45.93

  Intrinsic Value

$204.35

stock screener

  Rating & Target

str. buy

+345%

Previous close

$45.93

 
Intrinsic value

$204.35

 
Up/down potential

+345%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as NNN.

We calculate the intrinsic value of NNN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 6.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.60
  9.14
  8.73
  8.35
  8.02
  7.72
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
Revenue, $m
  641
  700
  761
  824
  890
  959
  1,031
  1,105
  1,182
  1,262
  1,345
  1,432
  1,522
  1,616
  1,714
  1,816
  1,922
  2,033
  2,149
  2,270
  2,396
  2,528
  2,665
  2,810
  2,960
  3,118
  3,283
  3,456
  3,637
  3,827
Variable operating expenses, $m
  271
  295
  321
  348
  376
  405
  435
  466
  499
  533
  568
  604
  642
  682
  723
  766
  811
  858
  907
  958
  1,011
  1,067
  1,125
  1,186
  1,249
  1,316
  1,386
  1,459
  1,535
  1,615
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  271
  295
  321
  348
  376
  405
  435
  466
  499
  533
  568
  604
  642
  682
  723
  766
  811
  858
  907
  958
  1,011
  1,067
  1,125
  1,186
  1,249
  1,316
  1,386
  1,459
  1,535
  1,615
Operating income, $m
  371
  404
  440
  476
  515
  554
  596
  639
  683
  729
  778
  828
  880
  934
  991
  1,050
  1,111
  1,175
  1,242
  1,312
  1,385
  1,461
  1,541
  1,624
  1,711
  1,802
  1,898
  1,998
  2,102
  2,212
EBITDA, $m
  1,077
  1,176
  1,278
  1,385
  1,496
  1,612
  1,732
  1,856
  1,986
  2,121
  2,261
  2,406
  2,558
  2,716
  2,880
  3,051
  3,230
  3,416
  3,610
  3,813
  4,025
  4,247
  4,479
  4,721
  4,974
  5,239
  5,517
  5,807
  6,112
  6,431
Interest expense (income), $m
  91
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
Earnings before tax, $m
  370
  404
  439
  476
  514
  553
  594
  637
  682
  728
  776
  826
  878
  932
  989
  1,047
  1,109
  1,173
  1,239
  1,309
  1,382
  1,458
  1,537
  1,621
  1,708
  1,799
  1,894
  1,994
  2,098
  2,208
Tax expense, $m
  100
  109
  118
  128
  139
  149
  161
  172
  184
  197
  210
  223
  237
  252
  267
  283
  299
  317
  335
  353
  373
  394
  415
  438
  461
  486
  511
  538
  566
  596
Net income, $m
  270
  295
  320
  347
  375
  404
  434
  465
  498
  531
  567
  603
  641
  681
  722
  765
  809
  856
  905
  956
  1,009
  1,064
  1,122
  1,183
  1,247
  1,313
  1,383
  1,455
  1,532
  1,612

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -416
  -454
  -493
  -534
  -577
  -622
  -668
  -716
  -766
  -818
  -872
  -928
  -987
  -1,047
  -1,111
  -1,177
  -1,246
  -1,318
  -1,393
  -1,471
  -1,553
  -1,638
  -1,727
  -1,821
  -1,919
  -2,021
  -2,128
  -2,240
  -2,357
  -2,480
Adjusted assets (=assets-cash), $m
  -416
  -454
  -493
  -534
  -577
  -622
  -668
  -716
  -766
  -818
  -872
  -928
  -987
  -1,047
  -1,111
  -1,177
  -1,246
  -1,318
  -1,393
  -1,471
  -1,553
  -1,638
  -1,727
  -1,821
  -1,919
  -2,021
  -2,128
  -2,240
  -2,357
  -2,480
Revenue / Adjusted assets
  -1.541
  -1.542
  -1.544
  -1.543
  -1.542
  -1.542
  -1.543
  -1.543
  -1.543
  -1.543
  -1.542
  -1.543
  -1.542
  -1.543
  -1.543
  -1.543
  -1.543
  -1.542
  -1.543
  -1.543
  -1.543
  -1.543
  -1.543
  -1.543
  -1.542
  -1.543
  -1.543
  -1.543
  -1.543
  -1.543
Average production assets, $m
  7,067
  7,713
  8,386
  9,086
  9,815
  10,572
  11,359
  12,177
  13,027
  13,911
  14,829
  15,785
  16,779
  17,814
  18,892
  20,016
  21,187
  22,409
  23,684
  25,016
  26,407
  27,860
  29,379
  30,968
  32,630
  34,369
  36,190
  38,096
  40,092
  42,184
Working capital, $m
  -2,981
  -3,253
  -3,537
  -3,833
  -4,140
  -4,459
  -4,791
  -5,136
  -5,495
  -5,867
  -6,255
  -6,658
  -7,077
  -7,514
  -7,969
  -8,443
  -8,937
  -9,452
  -9,990
  -10,552
  -11,138
  -11,751
  -12,392
  -13,062
  -13,763
  -14,497
  -15,265
  -16,069
  -16,911
  -17,793
Total debt, $m
  15
  16
  18
  19
  21
  22
  24
  26
  28
  29
  31
  33
  36
  38
  40
  42
  45
  47
  50
  53
  56
  59
  62
  66
  69
  73
  77
  81
  85
  89
Total liabilities, $m
  15
  16
  18
  19
  21
  22
  24
  26
  28
  29
  31
  33
  36
  38
  40
  42
  45
  47
  50
  53
  56
  59
  62
  66
  69
  73
  77
  81
  85
  89
Total equity, $m
  -430
  -470
  -511
  -554
  -598
  -644
  -692
  -742
  -794
  -847
  -903
  -962
  -1,022
  -1,085
  -1,151
  -1,219
  -1,291
  -1,365
  -1,443
  -1,524
  -1,609
  -1,697
  -1,790
  -1,886
  -1,988
  -2,094
  -2,205
  -2,321
  -2,442
  -2,570
Total liabilities and equity, $m
  -415
  -454
  -493
  -535
  -577
  -622
  -668
  -716
  -766
  -818
  -872
  -929
  -986
  -1,047
  -1,111
  -1,177
  -1,246
  -1,318
  -1,393
  -1,471
  -1,553
  -1,638
  -1,728
  -1,820
  -1,919
  -2,021
  -2,128
  -2,240
  -2,357
  -2,481
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  270
  295
  320
  347
  375
  404
  434
  465
  498
  531
  567
  603
  641
  681
  722
  765
  809
  856
  905
  956
  1,009
  1,064
  1,122
  1,183
  1,247
  1,313
  1,383
  1,455
  1,532
  1,612
Depreciation, amort., depletion, $m
  707
  771
  839
  909
  981
  1,057
  1,136
  1,218
  1,303
  1,391
  1,483
  1,578
  1,678
  1,781
  1,889
  2,002
  2,119
  2,241
  2,368
  2,502
  2,641
  2,786
  2,938
  3,097
  3,263
  3,437
  3,619
  3,810
  4,009
  4,218
Funds from operations, $m
  977
  1,066
  1,159
  1,256
  1,356
  1,461
  1,570
  1,683
  1,800
  1,922
  2,049
  2,182
  2,319
  2,462
  2,611
  2,766
  2,928
  3,097
  3,273
  3,457
  3,649
  3,850
  4,060
  4,280
  4,510
  4,750
  5,001
  5,265
  5,541
  5,830
Change in working capital, $m
  -261
  -272
  -284
  -295
  -307
  -319
  -332
  -345
  -359
  -373
  -387
  -403
  -419
  -437
  -455
  -474
  -494
  -515
  -538
  -562
  -587
  -613
  -641
  -670
  -701
  -734
  -768
  -804
  -842
  -882
Cash from operations, $m
  1,238
  1,338
  1,443
  1,551
  1,664
  1,781
  1,902
  2,028
  2,159
  2,295
  2,437
  2,585
  2,738
  2,899
  3,066
  3,240
  3,422
  3,612
  3,811
  4,019
  4,236
  4,463
  4,701
  4,950
  5,211
  5,483
  5,769
  6,069
  6,383
  6,712
Maintenance CAPEX, $m
  -645
  -707
  -771
  -839
  -909
  -981
  -1,057
  -1,136
  -1,218
  -1,303
  -1,391
  -1,483
  -1,578
  -1,678
  -1,781
  -1,889
  -2,002
  -2,119
  -2,241
  -2,368
  -2,502
  -2,641
  -2,786
  -2,938
  -3,097
  -3,263
  -3,437
  -3,619
  -3,810
  -4,009
New CAPEX, $m
  -620
  -646
  -673
  -700
  -729
  -757
  -787
  -818
  -850
  -884
  -919
  -956
  -994
  -1,035
  -1,078
  -1,124
  -1,171
  -1,222
  -1,275
  -1,331
  -1,391
  -1,453
  -1,519
  -1,589
  -1,662
  -1,739
  -1,821
  -1,906
  -1,997
  -2,091
Cash from investing activities, $m
  -1,265
  -1,353
  -1,444
  -1,539
  -1,638
  -1,738
  -1,844
  -1,954
  -2,068
  -2,187
  -2,310
  -2,439
  -2,572
  -2,713
  -2,859
  -3,013
  -3,173
  -3,341
  -3,516
  -3,699
  -3,893
  -4,094
  -4,305
  -4,527
  -4,759
  -5,002
  -5,258
  -5,525
  -5,807
  -6,100
Free cash flow, $m
  -26
  -14
  -1
  12
  27
  42
  58
  74
  91
  109
  127
  146
  166
  186
  206
  227
  249
  272
  295
  319
  344
  369
  396
  423
  452
  481
  512
  544
  577
  611
Issuance/(repayment) of debt, $m
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
Issuance/(repurchase) of shares, $m
  -38
  -39
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -78
  -81
  -85
  -89
  -93
  -97
  -101
  -106
  -111
  -116
  -122
  -127
Cash from financing (excl. dividends), $m  
  -37
  -38
  -40
  -42
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -64
  -66
  -69
  -71
  -75
  -78
  -82
  -86
  -90
  -94
  -97
  -102
  -107
  -112
  -118
  -123
Total cash flow (excl. dividends), $m
  -63
  -52
  -41
  -29
  -16
  -3
  11
  26
  41
  57
  73
  90
  107
  125
  143
  161
  180
  200
  220
  241
  262
  284
  307
  330
  354
  379
  405
  432
  459
  488
Retained Cash Flow (-), $m
  38
  39
  41
  43
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  68
  71
  74
  78
  81
  85
  89
  93
  97
  101
  106
  111
  116
  122
  127
Prev. year cash balance distribution, $m
  393
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  368
  39
  41
  43
  44
  46
  59
  76
  93
  111
  129
  148
  168
  188
  208
  230
  252
  274
  298
  322
  347
  372
  399
  427
  455
  485
  516
  548
  581
  616
Discount rate, %
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
  0.00
PV of cash for distribution, $m
  368
  39
  41
  43
  44
  46
  59
  76
  93
  111
  129
  148
  168
  188
  208
  230
  252
  274
  298
  322
  347
  372
  399
  427
  455
  485
  516
  548
  581
  616
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

National Retail Properties, Inc. is a real estate investment trust (REIT). The Company 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 December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states. The Company focuses on investing in a range of property and tenant types; leases, mortgages and other types of real estate interests; loans secured by personal property; loans secured by partnership or membership interests in partnerships or limited liability companies, and securities of other REITs, or other issuers, including for the purpose of exercising control over such entities. The Company owns a portfolio of freestanding retail stores across the United States. It owns approximately 2,290 stores, which are leased to over 400 tenants in approximately 40 different retail categories.

FINANCIAL RATIOS  of  National Retail Properties (NNN)

Valuation Ratios
P/E Ratio 28.2
Price to Sales 12.7
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 16.3
Price to Free Cash Flow -14.3
Growth Rates
Sales Growth Rate 10.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 29.7%
Cap. Spend. - 3 Yr. Gr. Rate 6.8%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 59%
Total Debt to Equity 59%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.6%
Ret/ On Assets - 3 Yr. Avg. 5.6%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 4.1%
Return On Equity 6.6%
Return On Equity - 3 Yr. Avg. 6.4%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 96.1%
Gross Margin - 3 Yr. Avg. 95.9%
EBITDA Margin 84.6%
EBITDA Margin - 3 Yr. Avg. 86%
Operating Margin 57.9%
Oper. Margin - 3 Yr. Avg. 59.6%
Pre-Tax Margin 39.7%
Pre-Tax Margin - 3 Yr. Avg. 40.7%
Net Profit Margin 44.9%
Net Profit Margin - 3 Yr. Avg. 43.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 1.7%
Payout Ratio 123.3%

NNN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NNN stock intrinsic value calculation we used $585 million for the last fiscal year's total revenue generated by National Retail Properties. The default revenue input number comes from 2017 income statement of National Retail Properties. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NNN stock valuation model: a) initial revenue growth rate of 9.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 0%, whose default value for NNN is calculated based on our internal credit rating of National Retail Properties, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of National Retail Properties.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NNN stock the variable cost ratio is equal to 42.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NNN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for National Retail Properties.

Corporate tax rate of 27% is the nominal tax rate for National Retail Properties. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NNN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NNN are equal to 1102.2%.

Life of production assets of 10 years is the average useful life of capital assets used in National Retail Properties operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NNN is equal to -464.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for National Retail Properties - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 149 million for National Retail Properties is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of National Retail Properties at the current share price and the inputted number of shares is $6.8 billion.

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COMPANY NEWS

▶ 2 High-Dividend Retail Stocks Worth Buying   [Aug-02-18 07:37AM  Motley Fool]
▶ National Retail Properties: 2Q Earnings Snapshot   [Aug-01-18 08:54AM  Associated Press]
▶ 3 Dividend Stocks Ideal for Retirees   [Jul-31-18 07:12AM  Motley Fool]
▶ National Retail Properties raises dividend by 5.3%   [Jul-16-18 08:39AM  MarketWatch]
▶ 25 Stocks Every Retiree Should Own   [Jun-27-18 03:51PM  Kiplinger]
▶ 4 REITs to Watch for Dividend Increases in July   [Jun-26-18 03:14PM  InvestorPlace]
▶ Would this guy hire himself? See what National Retail Properties' CEO has to say   [May-31-18 03:24PM  American City Business Journals]
▶ 3 Top Retail REITs You Can Buy Right Now   [May-23-18 05:31PM  Motley Fool]
▶ 3 Dividend Stocks That Pay You More Than IBM Does   [May-22-18 09:39AM  Motley Fool]
▶ National Retail Properties: 1Q Earnings Snapshot   [May-01-18 09:30AM  Associated Press]
▶ 3 High-Yield Stocks Still Worth Buying   [Mar-16-18 04:08PM  Motley Fool]
▶ 3 Top Stocks With High Dividend Yields   [Mar-02-18 01:19PM  Motley Fool]
▶ You Should Diversify With These Real Estate Dividend Stocks   [Feb-26-18 10:02AM  Simply Wall St.]
▶ 3 Top Stocks on Sale This Quarter   [08:37AM  Motley Fool]
▶ National Retail Properties reports 4Q results   [08:54AM  Associated Press]
▶ These 13 companies top the list of Central Florida's best-performing stocks   [Jan-15-18 08:55AM  American City Business Journals]
▶ These 5 Dividend Aristocrats Pay Up to 5.6%   [Dec-15-17 03:56AM  Harvest Exchange]
▶ Best Real Estate Dividend Stock Picks   [Nov-27-17 10:02AM  Simply Wall St.]
▶ 10 More Simply Safe Dividend Stocks for Retirement   [Nov-13-17 02:24PM  InvestorPlace]
▶ 3 High-Yield Stocks Safe for Retirees   [Nov-04-17 10:48AM  Motley Fool]
▶ National Retail Properties reports 3Q results   [Nov-02-17 08:45AM  Associated Press]
▶ In Your 40s? 3 Stocks You Should Consider Buying   [Oct-09-17 10:04AM  Motley Fool]
▶ 5 Top Stocks for September   [Sep-07-17 10:36AM  Motley Fool]
▶ 3 High-Yield Stocks Still Worth Buying   [Aug-24-17 06:30PM  Motley Fool]
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