National Retail Properties Whiffs on Q3 FFO

Adding to the broader retail industry's woes, specialty real estate investment trust (REIT) National Retail Properties (NYSE: NNN) missed analyst estimates for a crucial profitability metric in its latest reported quarter.

On Monday, the company unveiled results for the third quarter of fiscal 2020 showing that it booked $158.6 million in revenue -- down by 6% on a year-over-year basis. Adjusted funds from operations (AFFO, considered to be the most significant profitability line item for REITs) fell by almost 9% to just under $106.7 million, or $0.62 per share.

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Source Fool.com