Stephen A. Horn, Jr., president and CEO of National Retail Properties, Inc. (NYSE: NNN), participated in a video interview at Nareit’s REITworld: 2022 Annual Conference held in San Francisco on Nov. 15-17.
Horn talked about how National Retail Properties focuses its portfolio on large, regional tenants like 7-Eleven, Mister Car Wash, and LA Fitness.
“In the time of uncertainty that we’re in currently, they have large balance sheets…[and] geographically they’re diversified, so it really puts NNN in a good position going forward,” he said.
Horn said that emerging from the pandemic, all of the REIT’s tenants have prospered financially.
“When the pandemic first hit, when no shoppers were going out and buying items, our retailers looked back and looked below the line at their expenses, reorganized, and became more efficient operators,” he said.
Horn said that although he just became the president and CEO of National Retail Properties earlier this year, he’s been with the company for 20 years.
“One initiative that historically NNN didn’t focus on was the complete portfolio management,” he said. “So one of the goals with the company is to bring data analytics [to the forefront].”