National Retail Properties: 2Q Earnings Snapshot
Posted Aug 3, 2020 10:03:11 AM.
Last Updated Aug 3, 2020 10:10:07 AM.
This article is more than 5 years old.
ORLANDO, Fla. (AP) _ National Retail Properties (NNN) on Monday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had funds from operations of $111.7 million, or 65 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 60 cents per share.
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 $41.8 million, or 24 cents per share.
The retail real estate investment trust, based in Orlando, Florida, posted revenue of $163.7 million in the period. Its adjusted revenue was $163.5 million, which also topped Street forecasts. Six analysts surveyed by Zacks expected $146.9 million.
The company’s shares have fallen 34% since the beginning of the year. The stock has dropped 32% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NNN at https://www.zacks.com/ap/NNN
The Associated Press
