Friday, August 4, 2017

National Retail Properties Announces Second Quarter 2017 Operating Results and Increased 2017 Guidance

Jay Whitehurst
Orlando, FL – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, announced its operating results for the quarter and six months ended June 30, 2017.

Jay Whitehurst, Chief Executive Officer, commented: “National Retail Properties enjoyed another impressive quarter, driven by our healthy portfolio, our selectively underwritten acquisitions, and our flexible, low leverage balance sheet, all of which has positioned us to raise our guidance and, as previously announced, to raise our common dividend for the 28th consecutive year, a record matched by only three other REITs and less than 90 public companies in the United States.”

Second Quarter 2017 Highlights:

Kevin Habicht
• FFO per share increased 5.4% over prior year results
• Core FFO per common share increased 8.5% over prior year results
• AFFO per common share increased 8.3% over prior year results
• Portfolio occupancy was 99.3% at June 30, 2017 as compared to 99.1% at March 31, 2017 and 99.0% at December 31, 2016
• Invested $299.5 million in property investments, including the acquisition of 140 properties with an aggregate 832,000 square feet of gross leasable area at an initial cash yield of 6.9%
• Sold eight properties for $9.3 million producing $2.7 million of gains on sales, net of non-controlling interests
• Raised $25.1 million net proceeds from the issuance of 583,946 common shares.

 National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.

For a complete copy of the company’s news release, please contact:

Kevin B. Habicht
Chief Financial Officer

(407) 265-7348

No comments: