Is National Retail Properties Stock a Buy?

National Retail Properties (NYSE: NNN) has seen recessions before, but none quite like the one it's about to experience. The social distancing efforts to slow the spread of COVID-19 seem to be working, but the cost of effectively shutting down the economy will be high.

That raises the questions: Is this bellwether net-lease real estate investment trust (REIT), off nearly 50% from its early-year highs, a bargain today? Or is there more pain to come?

National Retail Properties has long been favored by dividend investors because of its incredible streak of 30 consecutive annual dividend increases. Dividend growth isn't fast, but a slow and steady pace has more than kept up with the historical growth rate of inflation. Very few companies can match its dividend record and even fewer real estate investment trusts can. As a result, it has a history of trading at a premium price.

Source Fool.com