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National Retail Properties (NNN)
NYSE:NNN
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.49Last Year’s EPS
$0.53Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -11.08%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a generally positive outlook with strong portfolio performance, increased acquisition guidance, and a robust balance sheet. However, challenges with tenant credit issues and potential rent losses present some headwinds.Company Guidance
During the NNN REIT Third Quarter 2024 Earnings Call, the company provided updated guidance and highlighted several key metrics. NNN tightened its 2024 core FFO per share guidance to a range of $3.28 to $3.32 and raised the midpoint of its acquisition guidance by 22% to $550 million, reflecting strong pipeline execution. The company reported raising approximately $175 million through its ATM program and maintained high liquidity with no outstanding balance on its $1.2 billion line of credit. The portfolio occupancy remained robust at 99.3%, with only 24 vacant assets. Acquisitions totaled $113 million for the quarter with an initial cash cap rate of 7.6%, while dispositions generated $20 million at a 4.4% cap rate. The balance sheet remains strong, with no debt maturities until the fourth quarter of 2025 and a weighted average debt maturity of 12.3 years. Despite tenant challenges with Badcock Furniture and Frisch's Big Boy, NNN affirmed its earnings guidance, demonstrating resilience in a competitive market.Strong Portfolio Performance
NNN's portfolio of 3,549 properties maintained high occupancy levels of 99.3%, above the long-term average, with only 24 vacant assets.
Increased Acquisition Guidance
NNN raised its acquisition buying guidance midpoint by 22% to $550 million, showcasing a strong pipeline and execution ability.
Robust Free Cash Flow
NNN generated approximately $151 million of free cash flow for the first 9 months, anticipating $193 million for the full year 2024.
Successful Capital Raising
NNN raised $175 million through the ATM program this quarter, marking its largest quarter since 2019.
Strong Balance Sheet
NNN had nothing drawn on its $1.2 billion line of credit, nearly $175 million of cash, and no debt due until November 2025.
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NNN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NNN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $45.40 | $43.44 | -4.32% |
| Aug 01, 2024 | $44.32 | $45.40 | +2.44% |
| May 01, 2024 | $39.52 | $39.67 | +0.38% |
| Feb 08, 2024 | $38.44 | $38.33 | -0.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does National Retail Properties (NNN) report earnings?
National Retail Properties (NNN) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is National Retail Properties (NNN) earnings time?
National Retail Properties (NNN) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NNN EPS forecast?
NNN EPS forecast for the fiscal quarter 2024 (Q4) is $0.49.
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