National Retail Properties (NNN) Updates FY18 Earnings Guidance

National Retail Properties (NYSE:NNN) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $2.66-2.68 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.69. National Retail Properties also updated its FY 2018 guidance to $2.64-2.66 EPS.

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of National Retail Properties from $46.00 to $47.00 and gave the stock a buy rating in a research report on Friday, September 21st. Wells Fargo & Co set a $50.00 price objective on shares of National Retail Properties and gave the stock a buy rating in a report on Tuesday, September 4th. Citigroup raised their price objective on shares of National Retail Properties from $41.00 to $44.00 and gave the stock a neutral rating in a report on Thursday, August 2nd. ValuEngine raised shares of National Retail Properties from a hold rating to a buy rating in a report on Wednesday, October 24th. Finally, Janney Montgomery Scott lowered shares of National Retail Properties from a buy rating to a neutral rating in a report on Monday, August 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. National Retail Properties presently has an average rating of Hold and a consensus target price of $46.86.

Shares of NYSE NNN traded down $0.18 during mid-day trading on Friday, hitting $46.88. 985,759 shares of the stock were exchanged, compared to its average volume of 1,034,768. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.85 and a beta of 0.17. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.78. National Retail Properties has a twelve month low of $36.25 and a twelve month high of $48.08.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.20). The firm had revenue of $155.33 million for the quarter, compared to analyst estimates of $156.04 million. National Retail Properties had a return on equity of 9.50% and a net margin of 50.66%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. On average, analysts forecast that National Retail Properties will post 2.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Tuesday, October 30th. National Retail Properties’s dividend payout ratio is currently 78.74%.

In related news, insider Christopher Paul Tessitore sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total value of $459,900.00. Following the completion of the sale, the insider now owns 108,686 shares of the company’s stock, valued at $4,998,469.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Julian E. Whitehurst sold 26,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $46.06, for a total transaction of $1,203,547.80. Following the completion of the sale, the chief executive officer now directly owns 329,403 shares of the company’s stock, valued at approximately $15,172,302.18. The disclosure for this sale can be found here. In the last three months, insiders sold 52,935 shares of company stock valued at $2,431,940. 1.03% of the stock is currently owned by company insiders.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

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Earnings History and Estimates for National Retail Properties (NYSE:NNN)

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