Orlando, Florida, August 2, 2016 – 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, 2016. Highlights include:
Operating Results:
- Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:
|
Quarter Ended |
Six Months Ended | ||||||||||||||
|
June 30, |
June 30, |
||||||||||||||
| 2016 | 2015 | 2016 |
2015 |
||||||||||||
|
(in thousands, except per share data) |
|||||||||||||||
| Revenues |
$ |
130,926 | $ | 117,208 | $ | 257,907 | $ | 233,394 | |||||||
| Net earnings available to common stockholders |
$ |
43,084 | $ | 37,330 | $ | 104,908 | $ | 82,450 | |||||||
| Net earnings per common share |
$ |
0.30 | $ | 0.28 | $ | 0.73 | $ | 0.62 | |||||||
| FFO available to common stockholders |
$ |
80,503 | $ | 73,090 | $ | 160,601 | $ | 143,933 | |||||||
| FFO per common share |
$ |
0.56 | $ | 0.55 | $ | 1.13 | $ | 1.08 | |||||||
| Core FFO available to common stockholders |
$ |
84,404 | $ | 73,518 | $ | 164,722 | $ |
144,517 |
|||||||
| Core FFO per common share |
$ |
0.59 | $ | 0.55 | $ | 1.15 | $ |
1.09 |
|||||||
| AFFO available to common stockholders |
$ |
86,531 | $ | 75,181 | $ | 168,280 | $ |
147,304 |
|||||||
| AFFO per common share |
$ |
0.60 | $ | 0.56 | $ | 1.18 | $ |
1.11 |
|||||||
Second Quarter 2016 Highlights:
- FFO per share increased 1.8% over prior year results
- Core FFO per share increased 7.3% over prior year results
- AFFO per share increased 7.1% over prior year results
- Portfolio occupancy was 99.1% at June 30, 2016 consistent with March 31, 2016 and December 31, 2015
- Invested $343.6 million in property investments, including the acquisition of 165 properties with an aggregate 1,095,000 square feet of gross leasable area at an initial cash yield of 6.9%
- Sold seven properties for $19.7 million producing $1.2 million of gains on sales
- Raised $128.3 million net proceeds from the issuance of 2,763,555 common shares
First Half 2016 Highlights:
- FFO per share increased 4.6% over prior year results
- Core FFO per share increased 5.5% over prior year results
- AFFO per share increased 6.3% over prior year results
- Invested $468.7 million in 211 properties with an aggregate 1,686,000 square feet of gross leasable area at an initial cash yield of 6.9%
- Sold 17 properties for $72.5 million producing $18.1 million of gains on sales
- Raised $216.3 million in net proceeds from the issuance of 4,762,965 common shares
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