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National Retail Properties, Inc. Message Board

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  • fewdolmo fewdolmo Feb 27, 2008 4:14 PM Flag


    marvin, how do you know it was the convertible possiblity that casuse the sell off? I think it could be that there is some concern that with a recession (or slowing) that some of the leasors from NNN will not make it? But IMO they are so diversified by product and geographically that they should not get hurt badly from a shallow slowing of the economy. FWIW, I am long NNN and plan to buy more if the sell off continues.

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    • Marv, it doesn't matter that there has been no de facto dilution. What matters is that a new dilutive factor has been introduced to the equation. I don't like the fact that the shares took dip today, either, but I'm not exactly shocked. I do think it's a good value at this level.

    • fewdolmo: You have a good point, but the recession concern is old news and has been with us for some time. The news release about the convertible notes was made public Tuesday 4:05 pm ET. NNN stock had a sharp drop on Wednesday right from the opening. Today's volume: 5,981,486; average volume: 966,771. After hours, as of 4:25 pm, down ANOTHER $0.54. I still don't understand the pessimistic attitudes, but I am convinced that the new debt announcement caused the sharp drop. It takes money to make money, and I have confidence in management. Maybe the selloff is a good thing, getting rid of the weak hands who really don't understand that the debt will grow the company into the future.

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