National Retail Properties, Inc. (NNN), a real estate investment trust, Thursday said first-quarter net earnings available to common stockholders increased to $29.30 million or $0.25 per share from $24.76 million or $0.23 per share in the prior year. Funds From Operations or FFO available to common stockholders increased to $54.62 million or $0.47 per share from $41.82 million or $0.39 per share in the previous year. Adjusted FFO per share advanced to $0.49 from $0.44. Recurring FFO per share was $0.48, compared to $0.42 last year. On average, 10 analysts polled by Thomson Reuters expected earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items. Revenues increased to $92.57 million from $77.39 million. Analysts expected revenues of $90.46 million.
National Retail Properties announced an increase in 2013 FFO guidance from a range of $1.81 to $1.85 to a range of $1.85 to $1.89 per share before any impairment expense.
Adjusted FFO is estimated to be $1.93 to $1.97 per share. Wall Street looks for earnings of $1.87 per share.
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