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| Craig Macnab |
Orlando, FL – National Retail Properties, Inc. (NYSE: NNN),
a real estate investment trust, announced its operating results for the quarter
ended March 31, 2013.
Highlights include an increase in 2013 FFO guidance from a
range of $1.81 to $1.85 to a range of $1.85 to $1.89 per share before any
impairment expense. 2013 AFFO is estimated to be $1.93 to $1.97 per share.
The FFO guidance equates to net earnings before any gains or
losses from the sale of real estate of $1.08 to $1.12 per share plus $0.77 per
share of
expected real estate depreciation and amortization.
The guidance is based on current plans and assumptions and
subject to risks and uncertainties more fully described in this press release
and the company's reports filed with the Securities and Exchange Commission.
Craig Macnab, Chief Executive Officer, commented:
“Very strong recurring FFO per share growth of 14% in the first quarter was driven
by continued high occupancy, improved operating expense efficiencies and increased
rental revenue from 2012's property acquisitions.
“ Additionally, we have taken advantage of the strong
capital markets environment by issuing both long term fixed rate debt and
common equity at very attractive pricing which provides very accretive funding
for additional acquisitions.
“All of this has allowed us to increase our 2013 FFO
guidance to levels that are projected to produce approximately 7-8% growth in
recurring FFO per share results for 2013.”
National Retail Properties invests primarily in high-quality
retail properties subject generally to long-term, net leases. As of March 31,
2013, the company owned 1,636 properties in 47 states with a gross leasable
area of approximately 19.3 million square feet.
For a complete copy of the company’s news release, please
contact:
For information contact:
Kevin B. Habicht
Chief Financial Officer
(407) 265-7348
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