National Retail Properties Q3 FFO Rises - Quick Facts

(RTTNews) - National Retail Properties Inc. (NNN) reported that its third-quarter Funds From Operations available to common stockholders or FFO was $59.95 million or $0.49 per share, compared to $57.04 million or $0.52 per share in the same quarter last year.

Net earnings available to common stockholders were $34.81 million or $0.29 per share, compared to $33.25 million or $0.30 per share in the same quarter last year.

Recurring FFO per common share grew to $0.49 from the prior year's $0.43. Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter increased to $100.62 million from $84.39 million last year. Ten analysts estimated revenues of $99.00 million for the quarter.

The company announced an increase in 2013 FFO guidance from a range of $1.86 to $1.90 to a range of $1.88 to $1.90 per share before any impairment expense. 2013 AFFO is estimated to be $1.96 to $1.98 per share. The FFO guidance equates to net earnings before any gains or losses from the sale of real estate of $1.06 to $1.08 per share, plus $0.82 per share of expected real estate depreciation, amortization and impairments. Analysts expect the company to report earnings of $1.89 per share for fiscal 2013.

The company also announced 2014 FFO guidance of $1.94 to $1.99 per share and estimated 2014 AFFO to be $2.00 to $2.05 per share. This FFO guidance equates to net earnings before any gains or losses from the sale of real estate and impairment charges of $1.08 to $1.13 per share plus $0.86 per share of expected real estate related depreciation and amortization. Analysts expect the company to report earnings of $2.03 per share for fiscal 2014.