National Retail Properties beats by $0.02, beats on revs; raises FY17 core FFO guidance (39.95)
- Reports Q2 (Jun) core FFO of $0.64 per share, $0.02 better than the Capital IQ Consensus of $0.62; revenues rose 11.2% year/year to $145.55 mln vs the $142.83 mln Capital IQ Consensus. AFFO for Q2 was $0.65 per share.
- Co issues in-line guidance for FY17, sees core FFO of $2.46-2.50, excluding non-recurring items, vs. $2.48 Capital IQ Consensus Estimate and vs prior guidance of $2.44-2.48. AFFO for 2017 is expected to be $2.50-2.54.
- "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."