Is National Retail Properties a Buy?
National Retail Properties (NYSE: NNN) is one of two real estate investment trusts (REITs) in the net lease space that can claim bellwether status. It has rewarded investors with annual dividend increases for decades, building a large and diversified portfolio of single-tenant retail assets along the way. But there's one very big problem that dividend investors need to know about before they buy this stock.
National Retail's portfolio contains roughly 3,000 single-tenant retail properties spread across 48 states. Its largest exposure is to convenience stores (about 18% of rents), full-service restaurants (11%), auto service (9%), quick-serve restaurants (9%), and family entertainment centers (7%).
Image source: Getty Images.
Source Fool.com
