National Retail Properties Inc. plans to fully redeem all of its outstanding depositary shares, each representing a 1/100th interest in the company's 6.625% series D cumulative redeemable preferred stock.

The company will redeem the depositary shares Feb. 23 at $25.00 apiece.

Including any accrued and unpaid dividends, the total redemption price is estimated to be $25.3128472 per depositary share.