REIT National Retail Properties, Inc. (NNN) reported Thursday that net earnings for the first quarter declined to $93.95 million or $0.50 per share from $96.46 million or $0.51 per share in the prior-year quarter.
Funds from Operations or FFO, available to common stockholders for the quarter were $163.15 million or $0.86 per share, up from $158.73 million or $0.85 per share last year.
Core FFO, available to common stockholders was $163.58 million or $0.86 per share, compared to $160.91 million or $0.86 per share a year ago.
Adjusted FFO available to common stockholders was $165.68 million or $0.87 per share, compared to $163.02 million or $0.87 per share a year ago.
Revenues for the quarter grew to $240.42 million from $230.85 million in the same quarter last year.
Looking ahead to fiscal 2026, the company now projects core FFO in a range of $3.48 to $3.54 per share, AFFO in a range of $3.53 to $3.59 per share and net earnings in a range of $2.02 to $2.08 per share.
Previously, the company expected core FFO in the range of $3.47 to $3.53 per share, AFFO in the range of $3.52 to $3.58 per share and net earnings in the range of $2.02 to $2.08 per share.
In Thursday's pre-market trading, NNN is trading on the NYSE at $43.49, down $0.04 or 0.09 percent.
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