National Retail Properties Q2 Net Profit Rises

(RTTNews) - National Retail Properties, Inc. (NNN) reported that its second quarter net earnings available to common stockholders increased to $74.17 million from $68.54 million, prior year. Net earnings per common share was $0.42 compared to $0.39. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Core FFO per common share increased to $0.79 from $0.70, a year ago. AFFO per common share was $0.81 compared to $0.77.

Revenues increased to $190.78 million from $179.01 million, prior year. Analysts on average had estimated $189.99 million in revenue.

Core FFO guidance for 2022 was increased from a range of $3.01 to $3.08 per share to a range of $3.07 to $3.12 per share. AFFO is estimated to be $3.14 to $3.19 per share. The core FFO guidance equates to net earnings of $1.83 to $1.88 per share, plus $1.24 per share of expected real estate depreciation and amortization and excludes any gains from the sale of real estate, charges for impairments and executive retirement costs.

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