National Retail Properties Earnings: Here’s Why the Stock is Falling 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 down 1.37%.

National Retail Properties, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 9.3% to $0.47 in the quarter versus EPS of $0.43 in the year-earlier quarter.

Revenue: Rose 6.14% to $96.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: National Retail Properties, Inc. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.46. It beat the average revenue estimate of $93.36 million.

Quoting Management: Craig Macnab, Chief Executive Officer, commented: “We are very pleased to have completed a number of attractive acquisitions during the second quarter which allowed us to increase our earnings guidance again to a level that produces approximately 8% growth in FFO per share over 2012′s results. Additionally, we raised $877 million of very well-priced long-term capital during the first half which positions us well to fund future acquisitions. While this may modestly constrain 2013 per share results, securing this low cost capital provides us with increased visibility in per share growth for 2014.”

Key Stats (on next page)…

Revenue increased 4.94% from $91.58 million in the previous quarter. EPS decreased 2.08% from $0.48 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.47 and has not changed. For the current year, the average estimate is a profit of $1.88, which is the same with that ninety days ago.

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