Nationwide Retail Properties (NYSE:NNN) inventory rises 4.6% after the corporate boosted its core FFO steering for 2022 and turned in This fall outcomes that beat consensus estimates.
The web lease retail REIT elevated its 2022 core FFO steering to $2.93-$3.00 from the prior vary of $2.90-$2.97; the brand new vary, which has a midpoint of $2.965, compares with the typical analyst estimate of $2.98.
The steering assumes acquisition quantity of $550M-$650M and disposition quantity of $80M-$100M.
This fall core FFO per share of $0.75 topped the $0.72 consensus and elevated from $0.71 in Q3 2021 and $0.63 within the year-ago quarter.
This fall income of $187.3M beat the typical analyst estimate of $184.4M and grew from $180.4M in Q3 and $163.3M in This fall 2020.
Occupancy was 99.0% at Dec. 31, 2021, with a weighted common of 10.6 years, up from 98.6% at Sept. 30, 2021 and 98.5% at Dec. 31, 2020.
Through the pandemic, the corporate entered into hire deferral lease amendments with some tenants, amounting to ~$4.76M of hire initially due in 2021 and $52.0M of hire initially due in 2020. Since then ~$31.8M of deferred hire was paid in 2021 and $3.26M was paid in 2020.