National Retail Properties’ Q2 adjusted funds from operation rose to $0.65 per share from $0.60 a year earlier, exceeding Capital IQ’s poll estimate of $0.62. Revenues increased to $145.6 million from $130.9 million a year ago, also coming in ahead of the 142.8 million estimate.
The company now said it expects adjusted funds from operation for 2017 to be $2.50 to $2.54 per share, up from its previous guidance of $2.48 to $2.52 per share and compared to the $2.52 estimate. Core FFO is now expected to be $2.46 to $2.50, up from previously $2.44 to $2.48 and compared to the $2.48 estimate. “National Retail Properties enjoyed another impressive quarter, driven by our healthy portfolio, our selectively underwritten acquisitions, and our flexible, low leverage balance sheet, all of which has positioned us to raise our guidance,” the company said.