08.02.2024 15:16:15 - dpa-AFX: National Retail Properties Q4 Results Top Estimates; Guides FY24 In Line
WASHINGTON (dpa-AFX) - Real estate investment trust National Retail
Properties, Inc. (NNN) reported Thursday that net earnings available to common
stockholders for the fourth quarter grew to $96.68 million or $0.53 per share
from $90.66 million or $0.50 per share in the prior-year quarter.
Funds from Operations or FFO, available to common stockholders for the quarter
were $151.71 million or $0.83 per share, up from $142.18 million or $0.79 per
share last year.
Core FFO, available to common stockholders was $154.28 million or $0.85 per
share, compared to $142.89 million or $0.80 per share a year ago.
Adjusted FFO available to common stockholders was $149.00 million or $0.82 per
share, compared to $145.14 million or $0.81 per share a year ago
On average, six analysts polled by Thomson Reuters expect the company to report
earnings of $0.48 per share for the quarter. Analysts' estimates typically
exclude special items.
Revenues for the quarter grew to $216.23 million from $198.52 million in the
same quarter last year. Analysts expected revenues of $206.86 million for the
quarter.
Looking ahead to fiscal 2024, the company now projects core FFO in a range of
$3.25 to $3.31 per share, AFFO in a range of $3.29 to $3.35 per share and net
earnings in a range of $1.94 to $2.00 per share, plus $1.31 per share of
expected real estate depreciation and amortization and excludes any gains from
the sale of real estate, charges for impairments and executive retirement costs.
The Street is currently looking for earnings of $1.95 per share for the year.
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