Record Annual Results Announced By National Retail Properties, Inc.

ORLANDO, Fla., Feb. 13, 2017

Operating Results:

• Revenues and net earnings, FFO, Core FFO and AFFO available to common stockholders and diluted per share amounts:

	Quarter Ended								Year Ended
	December 31,								December 31,
	2016 ARIVA.DE Börsen-Geflüster Kurse NNN Reit Inc. 40,00 $ +0,58%				2015				2016				2015
	(in thousands, except per share data)
Revenues	$	141,199			$	126,377			$	533,647			$	482,916
Net earnings available to common stockholders	$	54,044			$	33,612			$	200,877			$	162,402
Net earnings per common share	$	0.37			$	0.24			$	1.38			$	1.20
FFO available to common stockholders	$	88,717			$	67,319			$	330,544			$	289,193
FFO per common share	$	0.60			$	0.49			$	2.28			$	2.15
Core FFO available to common stockholders	$	88,717			$	76,661			$	340,643			$	299,171
Core FFO per common share	$	0.60			$	0.56			$	2.35			$	2.22
AFFO available to common stockholders	$	90,285			$	77,953			$	347,933			$	304,772
AFFO per common share	$	0.62			$	0.57			$	2.41			$	2.27

• Portfolio occupancy was 99.0% at December 31, 2016 and September 30, 2016, as compared to 99.1% at December 31, 2015

2016 Highlights:

• Increased net earnings per common share 15.0%
• Increased annual FFO per common share 6.0%
• Increased annual Core FFO per common share 5.9%
• Increased annual AFFO per common share 6.2%
• Dividend yield of 4.0% at December 31, 2016
• Annual dividend per common share increased to $1.78 marking the 27th consecutive year of annual dividend increases - making the company one of only four equity REITs and one of only 94 public companies with 27 or more consecutive annual dividend increases
• Maintained high occupancy levels at or above 99.0% for the entire year with a weighted average remaining lease term of 11.6 years
• Invested $846.9 million in 313 properties with an aggregate gross leasable area of approximately 2,734,000 square feet at an initial cash yield of 6.9%
• Sold 38 properties for $103.2 million, producing $27.1 million of gains on sale, net of noncontrolling interests, at a cap rate of 6.8%
• Raised $950.9 million of new long-term capital at attractive pricing
  • Raised $274.0 million in net proceeds from the issuance of 5,903,848 common shares
  • Raised $342.8 million in net proceeds from the issuance of 3.60% senior unsecured notes due 2026
  • Raised $334.1 million in net proceeds from the issuance of 5.20% Series F preferred stock
• Entire $650 million availability on bank credit facility at December 31, 2016
• 99.7% of properties are unencumbered with secured mortgage debt
• Total shareholder return of 14.5% for 2016 exceeds industry averages and general equity averages
• Total average annual shareholder return of 14.3% over the past 25 years exceeds industry averages and general equity averages

Selected Highlights for the quarter ended December 31, 2016:

• Investments:
  • $250.4 million in property investments, including the acquisition of 64 properties with an aggregate gross leasable area of approximately 698,000 square feet at an initial cash yield of 6.9%
• Dispositions:
  • Sold 14 properties with net proceeds of $20.1 million, producing $4.6 million of gains on sales, net of noncontrolling interests, at a cap rate of 7.2%
• Long-term capital:
  • Raised $965,000 in net proceeds from the issuance of 22,986 common shares
  • Raised $342.8 million in net proceeds from the issuance of 3.60% senior unsecured notes due 2026
  • Raised $334.1 million in net proceeds from the issuance of 5.20% Series F preferred stock

Craig Macnab, Chief Executive Officer, commented: "We are delighted to report another excellent year at NNN, with per share FFO results and acquisitions activity all being records. We were pleased with our capital market activity in 2016 with well executed debt and preferred offerings which were attractively priced and improved our long term cost of capital. As we head into 2017, our balance sheet positions us well for building shareholder value, growing per share results and continuing our 27 year record of annual increases in our dividend."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of December 31, 2016, the company owned 2,535 properties in 48 states with a gross leasable area of approximately 27.2 million square feet and with a weighted average remaining lease term of 11.6 years.  For more information on the company, visit www.nnnreit.com.

Management will hold a conference call on February 13, 2017, at 10:30 a.m. ET to review these results.  The call can be accessed on the National Retail Properties web site live at http://www.nnnreit.com.  For those unable to listen to the live broadcast, a replay will be available on the company's web site.  In addition, a summary of any earnings guidance given on the call will be posted to the company's web site.

E-Mail-Adresse

Bitte überprüfe deine die E-Mail-Adresse.

Benachrichtigungen von ARIVA.DE
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)

-1

Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink.

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.

Andere Nutzer interessierten sich auch für folgende News

19.04.24 - PR Newswire

Fidelity China Special Situations Plc - Transaction in Own Shares

19.04.24 - PR Newswire

Capital Gearing Trust Plc - Transaction in Own Shares