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Preferred Stock | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Preferred Stock | Preferred Stock: NNN completed the following underwritten public offering of cumulative redeemable preferred stock that is still outstanding ("Preferred Stock Shares") (dollars in thousands, except per share data):
Series |  | Dividend Rate(1) |  | Issued |  | Depositary Shares Outstanding(2) |  | Gross Proceeds |  | Stock Issuance Costs(3) |  | Dividend Per Depositary Share |  | Earliest Redemption Date
Series F |  | 5.200 | % |  | October 2016 |  | 13,800,000 |  |  | $ | 345,000 |  |  | $ | 10,897 |  |  | $ | 1.300000 |  |  | October 2021
(1) | Holders are entitled to receive, when and as authorized by the Board of Directors, cumulative preferential cash dividends.
(2) | Representing 1/100 th of a preferred share. Series F issuance included 1,800,000 depositary shares in connection with the underwriters' over-allotment.
(3) | Consisting primarily of underwriting commissions and fees, rating agency fees, legal and accounting fees and printing expenses.
The Preferred Stock Shares underlying the depositary shares rank senior to NNN’s common stock with respect to dividend rights and rights upon liquidation, dissolution or winding up of NNN. The Preferred Stock Shares have no maturity date and will remain outstanding unless redeemed. In addition, upon a change of control, as defined in the articles supplementary fixing the rights and preferences of the Preferred Stock Shares, NNN may redeem the Preferred Stock Shares underlying the depositary shares at a redemption price of $2,500.00 per share (or $25.00 per depositary share), plus all accumulated and unpaid dividends, and in limited circumstances the holders of depositary shares may convert some or all of their Preferred Stock Shares into shares of NNN's common stock at conversion rates provided in the related articles supplementary. As of February 11, 2020, the Series F Preferred Stock Shares were not redeemable. In October 2019, NNN redeemed all outstanding depositary shares (11,500,000) representing interests in its 5.700% Series E Preferred Stock. The Series E Preferred Stock was redeemed at $25.00 per depositary share, plus all accrued and unpaid dividends through, but not including, the redemption date, for an aggregate redemption price of $25.079167 per depositary share. The excess carrying amount of preferred stock redeemed over the cash paid to redeem the preferred stock was $9,856,000 of issuance costs.

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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