Brokerages expect that National Retail Properties, Inc. (NYSE:NNN) will post $157.82 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for National Retail Properties’ earnings, with estimates ranging from $156.58 million to $161.33 million. National Retail Properties reported sales of $149.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The company is expected to announce its next earnings report on Tuesday, February 12th.
According to Zacks, analysts expect that National Retail Properties will report full-year sales of $620.86 million for the current financial year, with estimates ranging from $619.15 million to $625.27 million. For the next year, analysts forecast that the company will post sales of $658.66 million, with estimates ranging from $627.07 million to $672.52 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover National Retail Properties.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.20). National Retail Properties had a net margin of 53.44% and a return on equity of 9.91%. The firm had revenue of $155.33 million for the quarter, compared to analyst estimates of $156.04 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis.
Several research analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating on shares of National Retail Properties in a research report on Monday, December 3rd. Zacks Investment Research upgraded shares of National Retail Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. B. Riley boosted their price objective on shares of National Retail Properties from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 5th. ValuEngine upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Wells Fargo & Co set a $50.00 price objective on shares of National Retail Properties and gave the company a “buy” rating in a research report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.00.
In other news, EVP Stephen A. Horn, Jr. sold 6,250 shares of the company’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $49.15, for a total transaction of $307,187.50. Following the completion of the transaction, the executive vice president now directly owns 88,183 shares in the company, valued at $4,334,194.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Eugene Bayer sold 4,509 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $49.58, for a total transaction of $223,556.22. Following the transaction, the insider now owns 127,621 shares of the company’s stock, valued at $6,327,449.18. The disclosure for this sale can be found here. Insiders have sold 16,109 shares of company stock valued at $791,936 over the last quarter. Company insiders own 1.03% of the company’s stock.
Large investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of National Retail Properties by 63.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 222,670 shares of the real estate investment trust’s stock worth $9,980,000 after buying an additional 86,310 shares in the last quarter. Asset Advisors Investment Management LLC bought a new stake in shares of National Retail Properties in the third quarter worth $112,000. Andra AP fonden grew its stake in shares of National Retail Properties by 21.1% in the third quarter. Andra AP fonden now owns 155,700 shares of the real estate investment trust’s stock worth $6,978,000 after purchasing an additional 27,100 shares during the last quarter. Northern Trust Corp grew its stake in shares of National Retail Properties by 2.2% in the second quarter. Northern Trust Corp now owns 2,332,245 shares of the real estate investment trust’s stock worth $102,526,000 after purchasing an additional 50,611 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of National Retail Properties by 41.1% in the second quarter. SG Americas Securities LLC now owns 94,741 shares of the real estate investment trust’s stock worth $4,165,000 after purchasing an additional 27,601 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.
Shares of NNN opened at $50.82 on Friday. National Retail Properties has a one year low of $36.25 and a one year high of $51.09. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 4.00 and a beta of 0.08. The company has a debt-to-equity ratio of 0.91, a current ratio of 18.01 and a quick ratio of 18.01.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.94%. National Retail Properties’s dividend payout ratio (DPR) is presently 78.74%.
National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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