Comments Off on First Quarter 2017 Operating Results and Increase of Lower End of 2017 Guidance Announced by National Retail Properties, Inc.

Orlando, Florida, May 2, 2017 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter ended March 31, 2017.  Highlights include:

Operating Results:

Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:

Quarter Ended
March 31,
2017 2016
(in thousands, except per share data)
Revenues $ 141,432 $ 126,980
Net earnings available to common stockholders $ 51,622 $ 61,824
Net earnings per common share $ 0.35 $ 0.44
FFO available to common stockholders $ 78,267 $ 80,098
FFO per common share $ 0.53 $ 0.57
Core FFO available to common stockholders $ 88,122 $ 80,318
Core FFO per common share $ 0.60 $ 0.57
AFFO available to common stockholders $ 89,045 $ 81,749
AFFO per common share $ 0.60 $ 0.58

First Quarter 2017 Highlights:

  • Core FFO per common share increased 5.3% over prior year results
  • AFFO per common share increased 3.4% over prior year results
  • Portfolio occupancy was 99.1% at March 31, 2017 as compared to 99.0% at December 31, 2016 and 99.1% at March 31, 2016
  • Invested $107.9 million in property investments, including the acquisition of 24 properties with an aggregate 250,000 square feet of gross leasable area at an initial cash yield of 6.9%
  • Sold 17 properties for $39.0 million producing $14.6 million of gains on sales
  • Raised $48.5 million net proceeds from the issuance of 1,103,675 common shares
  • Redeemed all 11,500,000 depositary shares representing interests in our 6.625% Series D Cumulative preferred stock at the liquidation value of $25.00 per depositary share, for $287.5 million

April Transactions:

  • Invested $151.4 million in property investments, including the acquisition of 73 properties with an aggregate 282,000 square feet of gross leasable area

Click here for the full press release.

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