National Retail Properties: 3Q Earnings Snapshot
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ORLANDO, Fla. (AP) _ National Retail Properties (NNN) on Thursday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had funds from operations of $105.1 million, or 67 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 67 cents per share.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $73.5 million, or 47 cents per share.
The retail real estate investment trust, based in Orlando, Florida, posted revenue of $155.3 million in the period. Its adjusted revenue was $154.7 million, missing Street forecasts. Six analysts surveyed by Zacks expected $156.3 million.
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National Retail Properties expects full-year funds from operations in the range of $2.64 to $2.66 per share.
The company's shares have risen 9 percent since the beginning of the year. The stock has risen 17 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on NNN at https://www.zacks.com/ap/NNN