Common Stock (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Stock by Class

At-The-Market Offerings. Under NNN's shelf registration statement, NNN has established an at-the-market equity program ("ATM") which allows NNN to sell shares of common stock from time to time. The following table outlines NNN's active ATM programs for the three years ended December 31, 2021:

	2020 ATM		2018 ATM
Established date	August 2020		February 2018
Termination date	August 2023		August 2020
Total allowable shares		17,500,000		12,000,000
Total shares issued as of December 31, 2021		1,599,304		11,272,034

The following table outlines the common stock issuances pursuant to NNN's ATM equity programs for the years ended December 31 (dollars in thousands, except per share data):

	2021		2020		2019
Shares of common stock		30,000		3,119,153		2,344,022
Average price per share (net)	$	33.65	$	38.21	$	53.71
Net proceeds	$	1,009	$	119,185	$	125,905
Stock issuance costs(1)	$	224	$	2,130	$	1,431

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

The following outlines the common stock issuances pursuant to the DRIP for the year ended December 31 (dollars in thousands):

	2021		2020		2019
Shares of common stock		62,577		138,507		362,918
Net proceeds	$	2,744	$	5,092	$	19,442