Comments Off on Second Quarter 2017 Operating Results and Increased 2017 Guidance Announced by National Retail Properties, Inc.

Orlando, Florida, August 1, 2017 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and six months ended June 30, 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 Six Months Ended
June 30, June 30,
2017 2016 2017 2016
(in thousands, except per share data)
Revenues $ 145,550 $ 130,926 $ 286,981 $ 257,907
Net earnings available to common stockholders $ 49,447 $ 43,084 $ 101,068 $ 104,908
Net earnings per common share $ 0.33 $ 0.30 $ 0.68 $ 0.73
FFO available to common stockholders $ 87,884 $ 80,503 $ 166,151 $ 160,601
FFO per common share $ 0.59 $ 0.56 $ 1.12 $ 1.13
Core FFO available to common stockholders $ 95,425 $ 84,404 $ 183,547 $ 164,722
Core FFO per common share $ 0.64 $ 0.59 $ 1.24 $ 1.15
AFFO available to common stockholders $ 96,412 $ 86,531 $ 185,457 $ 168,280
AFFO per common share $ 0.65 $ 0.60 $ 1.25 $ 1.18

 

Second Quarter 2017 Highlights:

  • FFO per share increased 5.4% over prior year results
  • Core FFO per common share increased 8.5% over prior year results
  • AFFO per common share increased 8.3% over prior year results
  • Portfolio occupancy was 99.3% at June 30, 2017 as compared to 99.1% at March 31, 2017 and 99.0% at December 31, 2016
  • Invested $299.5 million in property investments, including the acquisition of 140 properties with an aggregate 832,000 square feet of gross leasable area at an initial cash yield of 6.9%
  • Sold eight properties for $9.3 million producing $2.7 million of gains on sales, net of noncontrolling interests
  • Raised $25.1 million net proceeds from the issuance of 583,946 common shares

First Half 2017 Highlights:

  • Core FFO per share increased 7.8% over prior year results
  • AFFO per share increased 5.9% over prior year results
  • Invested $407.4 million in 164 properties with an aggregate 1,082,000 square feet of gross leasable area at an initial cash yield of 6.9%
  • Sold 25 properties for $48.3 million producing $17.3 million of gains on sales, net of noncontrolling interests
  • Raised $73.6 million in net proceeds from the issuance of 1,687,621 common shares

 

For the full press release click here.

 

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