Earnings

Orlando, Florida, July 30, 2015 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and six months ended June 30, 2015.  Highlights include:

Operating Results:

  • Revenues and net earnings, FFO, Recurring FFO and AFFO available to common stockholders and diluted per share amounts:

Quarter Ended

 Six Months Ended

June 30,

June 30,

2015

 2014 2015

2014

(in thousands, except per share data)
Revenues $

117,208

 $

105,613

 $

233,394

 $

209,677
Net earnings available to common stockholders

$

 37,330 $ 36,713 $ 82,450 $

71,187
Net earnings per common share $

0.28

 $ 0.30 $ 0.62 $

0.58
FFO available to common stockholders

$

 73,090 $ 61,690 $ 143,933 $

123,331
FFO per common share

$

 0.55 $ 0.50 $ 1.08 $

1.01
Recurring FFO available to common stockholders

$

 73,518 $ 61,767 $ 144,517 $

123,566
Recurring FFO per common share

$

 0.55 $ 0.50 $ 1.09 $

1.01

AFFO available to common stockholders

 $ 75,181 $ 62,710 $ 147,304 $

125,428
AFFO per common share

$

 0.56 $ 0.51 $ 1.11 $

1.02

Second Quarter 2015 Highlights:

  • FFO per share and Recurring FFO per share increased 10.0% over prior year results
  • AFFO per share increased 9.8% over prior year results
  • Portfolio occupancy is 98.8% at June 30, 2015, consistent with March 31, 2015, and 98.6% at December 31, 2014
  • Invested $147.8 million in 37 properties with an aggregate 669,000 square feet of gross leasable area at an initial cash yield of 7.1%
  • Sold three properties for $2.2 million producing $30,000 of gains on sales
  • Raised $38.7 million in net proceeds from the issuance of 983,317 common shares

Click here to read the full press release.