National Retail Properties, Inc. (NYSE:NNN) Q4 2022 Earnings Call Transcript

Tayo Okusanya: Got it. And then just a quick follow-up on that. I know most of you guys all track your rent coverage ratios and things of that nature, even if it’s not published. You just kind of talk about trend wise, what’s happening there with the rent coverage ratios, especially along the different trade lines? Is there any kind of real pressure on coverage in one particular trade line versus another?

Kevin Habicht: No, there is nothing notable changing there yet, recognizing that we get the data on a lag, meaning we don’t get real-time data. And so some of it comes quarterly, some of it actually comes annually. And so there is always that lag factor. But so far, we have not seen any levels that are keeping us up at night in any particular lining.

Tayo Okusanya: Thank you.

Operator: We appear to have no more questions in the queue, and that’s the end of our question-and-answer session. I will now hand back over to Steve for any closing remarks.

Steve Horn: Thank you, Jenny. I appreciate everybody joining the call this morning. We look forward to seeing many of you in person in the upcoming conference season, and we will catch up then. Thank you.

Operator: Thank you everybody. This does conclude today’s conference call. You may disconnect your phone lines at this time and have a wonderful day. Thank you for your participation.