Operator
Good day, ladies and gentlemen, and welcome to your National Retail Properties First Quarter 2021 Earnings Conference Call. [Operator Instructions]
At this time, it is my pleasure to turn the floor over to your host, Jay Whitehurst. Sir, the floor is yours.
Julian E. ( JAY ) Whitehurst
President and Chief Operating Officer
Thank you, Melinda. Good morning, and welcome to the National Retail Properties First Quarter 2021 Earnings Call. Joining me on this call is our Chief Financial Officer, Kevin Habicht; and our Chief Operating Officer, Steve Horn. As this morning s press release reflects, 2021 is off to a great start for National Retail Properties. Beyond our impressive financial results, during the first quarter we were pleased and honored to be named as one of the few REITs in the 2021 Bloomberg Gender Equality Index and I d like to take this opportunity to thank everyone in our office who put in the time and effort to achieve that important recognition.
The U.S. Travel Association has announced the hiring of Nicole Porter as vice president, political affairs - PAC and grassroots, a newly created position.
In her new role, Porter will be responsible for both political fundraising from among the association membership, and for growing the organization s grassroots program to increase political education and involvement across the travel industry.
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Amounts include $9,385 of net straight-line accrued rent from rent deferral repayments from the COVID-19 rent deferral lease amendments. Excluding such, AFFO per common share would have been $0.71 for the quarter ended March 31, 2021.
First Quarter 2021 Highlights:
As of April 28, 2021, NNN had collected approximately 97% of rent originally due for the quarter ended March 31, 2021, and approximately 98% of rent originally due in April 2021
Collected approximately $2.2 million of receivables written-off in 2020 from cash basis tenants
Maintained high occupancy levels at 98.3%, with a weighted average remaining lease term of 10.6 years, at March 31, 2021 as compared to 98.5% at December 31, 2020 and 98.8% at March 31, 2020
Invested $105.6 million in property investments, including the acquisition of 29 properties with an aggregate 355,000 square feet of gross leasable area at an initial cash yield of 6.4%
wfrank@altoonamirror.com
Beerbower Jewelers owner Don Beerbower helps a customer try on pearl bracelets at the Hollidaysburg store.
Mirror photo by Patrick Waksmunski
Mother’s Day spending is expected to total a record $28.1 billion this year, up $1.4 billion from 2020, according to the annual survey by the National Retail Federation. About 83% of U.S. adults are expected to celebrate the annual holiday.
“There is a lot of consumer optimism around Mother’s Day this year as more people are getting vaccinated and stimulus checks are being distributed,” NRF President and CEO Matthew Shay said in a statement. “For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown. With safety guidelines at top of mind, consumers are planning to be with family, are making travel plans and organizing a special brunch or outing. All of these activities will be reflected through their purchasing decisions.”
US Travel taps Nicole Porter to boost political outreach
5 hours ago
Porter will be responsible for both political fundraising from among the association membership
Porter has also run her own campaign fundraising consulting firm, Porter Group
The U.S. Travel Association has announced the hiring of Nicole Porter as vice president, political affairs – PAC and grassroots, a newly created position.
In her new role, Porter will be responsible for both political fundraising from among the association membership, and for growing the organization’s grassroots program to increase political education and involvement across the travel industry.
Porter was most recently the senior director, political & advocacy affairs at the National Retail Federation. She has also run her own campaign fundraising consulting firm, Porter Group, and was a staffer to former Sen. John Ensign (R-NV).