National Retail Properties (NYSE:NNN) Posts Quarterly Earnings Results, Misses Expectations By $0.25 EPS

National Retail Properties (NYSE:NNN) released its earnings results on Thursday. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.25), Fidelity Earnings reports. The firm had revenue of $164.80 million during the quarter, compared to analyst estimates of $163.73 million. National Retail Properties had a net margin of 43.14% and a return on equity of 7.54%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. National Retail Properties updated its FY19 guidance to $2.76-2.81 EPS and its FY 2019 guidance to $2.71-2.76 EPS.

Shares of National Retail Properties stock traded up $0.77 during trading on Friday, reaching $53.17. 916,407 shares of the company were exchanged, compared to its average volume of 963,484. The company has a quick ratio of 2.35, a current ratio of 1.83 and a debt-to-equity ratio of 0.69. National Retail Properties has a twelve month low of $42.97 and a twelve month high of $55.97. The business’s 50-day simple moving average is $53.52. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 5.53 and a beta of 0.16.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.87%. National Retail Properties’s payout ratio is 76.87%.

In related news, insider Christopher Paul Tessitore sold 2,550 shares of National Retail Properties stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total transaction of $65,509.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 1,500 shares of National Retail Properties stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $54.91, for a total value of $82,365.00. Following the sale, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at $1,875,396.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,949 shares of company stock valued at $2,135,298. 0.70% of the stock is owned by insiders.

Several equities research analysts have recently commented on NNN shares. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research note on Tuesday, July 30th. Raymond James set a $57.00 target price on National Retail Properties and gave the company a “hold” rating in a research note on Monday, May 20th. Morgan Stanley lifted their target price on National Retail Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Finally, ValuEngine cut National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. National Retail Properties currently has an average rating of “Hold” and a consensus price target of $53.00.

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.

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Earnings History for National Retail Properties (NYSE:NNN)

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