National Retail Properties Inc. (NNN), a real estate investment trust, Tuesday posted a rise in its second-quarter Funds From Operations available to common stockholders to $61.69 million from $54.28 million last year, with FFO per share improving to $0.50 from $0.45 a year ago. On average 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.
Recurring FFO per common share was $0.50 up from $0.45 in the prior year. AFFO per share was $0.51 compared to $0.47 last year.
Net earnings available to common stockholders grew to $36.71 million or $0.30 per share from $32.72 million or $0.27 per share last year.
Revenues rose to $105.6 million from $96.29 million in the year-ago quarter, while analysts expected it to be $105.07 million.
The company raised its annual FFO guidance to a range of $2.00 - $2.04 from the previous range of $1.95 -$2.00 before any impairment expense. AFFO per share is estimated to be $2.05 - $2.09 for the full year. Analysts expect earnings per share of $2.04 for 2014.
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