National Retail Properties Earnings: Here’s Why Investors are Excited Now

National Retail Properties, Inc. (NYSE:NNN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.23%.

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National Retail Properties, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 16.67% to $0.49 in the quarter versus EPS of $0.42 in the year-earlier quarter.

Revenue: Rose 3.03% to $92.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: National Retail Properties, Inc. reported adjusted EPS income of $0.49 per share. By that measure, the company beat the mean analyst estimate of $0.46. It beat the average revenue estimate of $90.46 million.

Quoting Management: Craig Macnab, Chief Executive Officer, commented: “Very strong recurring FFO per share growth of 14% in the first quarter was driven by continued high occupancy, improved operating expense efficiencies and increased rental revenue from 2012′s property acquisitions. Additionally, we have taken advantage of the strong capital markets environment by issuing both long term fixed rate debt and common equity at very attractive pricing which provides very accretive funding for additional acquisitions. All of this has allowed us to increase our 2013 FFO guidance to levels that are projected to produce approximately 7-8% growth in recurring FFO per share results for 2013.”

Key Stats (on next page)…

Revenue decreased 7.73% from $100.36 million in the previous quarter. EPS increased 6.52% from $0.46 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.45 to a profit $0.46. For the current year, the average estimate has moved up from a profit of $1.81 to a profit of $1.87 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]