Seeking Alpha

National Retail Properties boosts guidance

  • Q2 adjusted FFO of $62.7M or $0.51 per share vs. $57.4M and $0.47 a year ago. Dividend is $0.42.
  • Portfolio occupancy of 98.5% up 30 basis points Y/Y.
  • Invested $92M in 34 properties at initial cash yield of 7.5%. Sold 10 properties for $15M, booking $3.1M in gains on sales.
  • Full-year AFFO guidance is boosted to $2.05-$2.09 per share, partly the result of the company's ability in H1 to raise funds at a cheap cost.
  • Conference call at 10:30 ET
  • NNN flat premarket
  • Previously: National Retail Properties FFO and revenue in-line
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