National Retail Properties Lifts FY22 Core FFO, AFFO View - Update

(RTTNews) - National Retail Properties, Inc. (NNN) on Wednesday raised its fiscal 2022 forecast for core Funds from operations or FFO after reporting higher third-quarter results.

For the year, the company raised core FFO guidance to a range of $3.11 to $3.15 per share from previously expected range of $3.07 to $3.12 per share. The 2022 Adjusted FFO is estimated to be $3.18 to $3.22 per share, compared to previoud outlook of $3.14 to $3.19 per share.

Net earnings are expected project $1.85 to $1.89 per share, compared to earlier projected net earnings of $1.83 to $1.88 per share .

On average, five analysts polled by Thomson Reuters expect earnings of $1.80 per share for the year. Analysts' estimates typically exclude special items.

Steve Horn, Chief Executive Officer, said, "National Retail Properties is in position to finish 2022 strong. ... NNN is in fantastic shape heading into next year with an exceptional balance sheet; with less than $50 million outstanding on our $1.1 billion line of credit and no material debt maturities in 2023."