Equities research analysts forecast that National Retail Properties, Inc. (NYSE:NNN) will report $163.97 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for National Retail Properties’ earnings, with the highest sales estimate coming in at $165.80 million and the lowest estimate coming in at $158.93 million. National Retail Properties reported sales of $155.15 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The firm is scheduled to announce its next earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that National Retail Properties will report full year sales of $663.09 million for the current fiscal year, with estimates ranging from $640.31 million to $669.48 million. For the next financial year, analysts expect that the business will post sales of $706.60 million, with estimates ranging from $687.44 million to $717.61 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow National Retail Properties.
National Retail Properties (NYSE:NNN) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.23). National Retail Properties had a return on equity of 7.78% and a net margin of 42.49%. The firm had revenue of $163.71 million during the quarter, compared to the consensus estimate of $161.34 million. During the same quarter in the prior year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.
Several brokerages have recently issued reports on NNN. Raymond James set a $57.00 target price on shares of National Retail Properties and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research cut shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. B. Riley cut shares of National Retail Properties from a “buy” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $55.00 in a report on Wednesday, February 13th. Finally, LADENBURG THALM/SH SH cut shares of National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, February 11th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $51.43.
Shares of National Retail Properties stock traded up $0.37 on Friday, hitting $52.90. The stock had a trading volume of 494,100 shares, compared to its average volume of 973,837. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.35 and a current ratio of 2.35. National Retail Properties has a one year low of $39.69 and a one year high of $55.87. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 4.50 and a beta of 0.24.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.78%. The ex-dividend date was Monday, April 29th. National Retail Properties’s dividend payout ratio (DPR) is currently 74.63%.
In related news, insider Paul Eugene Bayer sold 12,745 shares of National Retail Properties stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $52.00, for a total value of $662,740.00. Following the sale, the insider now owns 139,815 shares in the company, valued at $7,270,380. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Julian E. Whitehurst sold 34,045 shares of National Retail Properties stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $52.64, for a total transaction of $1,792,128.80. Following the completion of the sale, the chief executive officer now owns 384,788 shares in the company, valued at approximately $20,255,240.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,273 shares of company stock worth $5,904,785. 0.70% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its position in National Retail Properties by 1.5% during the first quarter. Crossmark Global Holdings Inc. now owns 17,339 shares of the real estate investment trust’s stock valued at $960,000 after buying an additional 260 shares during the period. Cornerstone Advisors Inc. lifted its position in National Retail Properties by 170.8% during the first quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 292 shares during the period. Raymond James Trust N.A. lifted its position in National Retail Properties by 4.1% during the fourth quarter. Raymond James Trust N.A. now owns 7,886 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 309 shares during the period. Albion Financial Group UT lifted its position in National Retail Properties by 2.5% during the fourth quarter. Albion Financial Group UT now owns 12,800 shares of the real estate investment trust’s stock valued at $621,000 after buying an additional 315 shares during the period. Finally, Signaturefd LLC lifted its position in National Retail Properties by 25.5% during the first quarter. Signaturefd LLC now owns 1,637 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 88.18% of the company’s stock.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.
See Also: Outstanding Shares, Buying and Selling Stocks
Get a free copy of the Zacks research report on National Retail Properties (NNN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.