Comments Off on First Quarter Operating Results And Increased 2016 Guidance Announced by National Retail Properties, Inc.

Orlando, Florida, May 2, 2016 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter ended March 31, 2016.  Highlights include:

 

Operating Results:

  • Revenues and net earnings, FFO, Recurring FFO and AFFO available to common stockholders and diluted per share amounts:
Quarter Ended
March 31,
2016 2015
(in thouhttp://investors.nnnreit.com/file.aspx?IID=103064&FID=34124209sands, except per share data)
Revenues $ 126,980 $ 116,187
Net earnings available to common stockholders $ 61,824 $ 45,119
Net earnings per common share $ 0.44 $ 0.34
FFO available to common stockholders $ 80,098 $ 70,843
FFO per common share $ 0.57 $ 0.54
Recurring FFO available to common stockholders $ 80,318 $ 70,999
Recurring FFO per common share $ 0.57 $ 0.54
AFFO available to common stockholders $ 81,749 $ 72,123
AFFO per common share $ 0.58 $ 0.55

 

 

 

First Quarter 2016 Highlights:

 

  • FFO per share and Recurring FFO per share increased 5.6% over prior year results
  • AFFO per share increased 5.5% over prior year results
  • Portfolio occupancy was 99.1% at March 31, 2016, consistent with December 31, 2015, and 98.8% at March 31, 2015
  • Invested $125.2 million in property investments, including the acquisition of 46 properties with an aggregate 591,000 square feet of gross leasable area at an initial cash yield of 7.0%
  • Sold 10 properties for $52.8 million producing $16.9 million of gain on sales
  • Raised $88.0 million net proceeds from the issuance of 1,999,410 common shares

 

 

National Retail Properties announced an increase in 2016 FFO guidance from a range of $2.29 to $2.35 to a range of $2.31 to $2.36 per share before any impairment expense. The 2016 AFFO is estimated to be $2.36 to $2.41 per share.

Click here to read the full press release.

Comments are closed