Seeking Alpha

National Retail Properties 2014 guidance inline with Street

  • Recurring FFO per share of $0.49 is up 14% from a year ago. Quarterly dividend is $0.41 per share.
  • Rental and earned income of $96.6M up 18% from a year ago. Operating expenses of $37.8M up 15%.
  • Portfolio occupancy of 98.1% is up 20 basis points from a year ago.
  • Q3 investments of 35 properties for $90M and sales of 22 properties for $36M (produced pre-tax gains of $811K).
  • FY2013 AFFO guidance is $1.96-$1.98 per share. FY2014 AFFO guidance of $2.00-$2.05 per share is inline with the Street at $2.03.
  • CC at 10:30 ET.
  • Q3 results, press release.
  • NNN no trades premarket.

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