National Retail Properties Lifts 2017 Core FFO Guidance

(RTTNews) - National Retail Properties Inc. (NNN) said that Core FFO guidance for 2017 is increased from a range of $2.44 to $2.48 to a range of $2.46 to $2.50 per share. The 2017 AFFO is estimated to be $2.50 to $2.54 per share.

The Core FFO guidance equates to net earnings of $1.36 to $1.40 per share, plus $1.10 per share of expected real estate depreciation and amortization and excludes any gains from the sale of real estate and any charges for impairments, retirement severance costs, or preferred stock redemption charges.

Net earnings attributable to the company for the second-quarter rose to $58.03 million or $0.33 per share from $51.94 million or $0.33 per share last year.

FFO per common share was $0.59 up from $0.56 last year.

Revenue for the quarter rose to $145.55 million from last year's $130.93 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share and revenues of $142.83 million for the second-quarter. Analysts' estimates typically exclude special items.