Stockholders' Equity

6 Months Ended

Jun. 30, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity:

In February 2015, NNN filed a shelf registration statement with the Securities and Exchange Commission (the "Commission") which permits the issuance by NNN of an indeterminate amount of debt and equity securities.

Dividend Reinvestment and Stock Repurchase Plan – In February 2015, NNN filed a shelf registration statement with the Commission for its Dividend Reinvestment and Stock Purchase Plan ("DRIP") which permits the issuance by NNN of up to 16,000,000 shares of common stock. The following table outlines the common stock issuances pursuant to NNN's DRIP (dollars in thousands):

	Six Months Ended June 30,
	2015		2014
Shares of common stock	82,271		290,399
Net proceeds	$	3,019	$	9,814

At-The-Market Offerings – NNN established an at-the-market equity program ("ATM") which allows NNN to sell shares of common stock from time to time. The following outlines NNN's ATM programs:

	2015 ATM	2013 ATM	2012 ATM
Established date	February 2015	March 2013	May 2012
Termination date	February 2018	February 2015	February 2015
Total allowable shares	10,000,000	9,000,000	9,000,000
Total shares issued as of June 30, 2015	1,910,873	6,252,812	8,958,840

The following table outlines the common stock issuances pursuant to NNN's ATM equity program (dollars in thousands, except per share data):

	Six Months Ended June 30,
	2015				2014
	2015 ATM		2013 ATM		2013 ATM
Shares of common stock	1,910,873		214,000		1,861,206
Average price per share (net)	$	39.70	$	39.84	$	35.21
Net proceeds	$	75,857	$	8,525	$	65,526
Stock issuance costs(1)	$	1,312	$	130	$	1,065

⁽¹⁾ Stock issuance costs consist primarily of underwriters' fees and commissions, and legal and accounting fees.

No shares were issued under the 2012 ATM during the six months ended June 30, 2015 and 2014.

Dividends – The following table outlines the dividends declared and paid for each issuance of NNN's stock (dollars in thousands, except per share data):

	Six Months Ended June 30,
	2015		2014
Series D preferred stock(1):
Dividends	$	9,523	$	9,523
Per depositary share	0.828125		0.828125
Series E preferred stock(1):
Dividends	8,194		8,194
Per depositary share	0.712500		0.712500
Common stock:
Dividends	111,400		98,958
Per share	0.840		0.810

⁽¹⁾ The Series D and E preferred stock have no maturity date and will remain outstanding unless redeemed.

In July2015, NNN declared a dividend of $0.435 per share, which is payable in August2015 to its common stockholders of record as of July 31, 2015.