Wall Street brokerages expect that National Retail Properties, Inc. (NYSE:NNN) will announce $0.69 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for National Retail Properties’ earnings. The highest EPS estimate is $0.70 and the lowest is $0.67. National Retail Properties posted earnings per share of $0.67 during the same quarter last year, which would suggest a positive year over year growth rate of 3%. The company is expected to announce its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that National Retail Properties will report full-year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.73 to $2.77. For the next financial year, analysts anticipate that the company will report earnings of $2.87 per share, with EPS estimates ranging from $2.85 to $2.90. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow National Retail Properties.
National Retail Properties (NYSE:NNN) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The firm had revenue of $164.80 million during the quarter, compared to the consensus estimate of $163.73 million. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis.
Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. ValuEngine cut National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on National Retail Properties from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Wells Fargo & Co set a $62.00 price target on shares of National Retail Properties and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.14.
Shares of NYSE:NNN traded down $0.32 during midday trading on Friday, hitting $53.73. 1,255,206 shares of the stock traded hands, compared to its average volume of 981,342. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $54.60 and its two-hundred day moving average is $53.66. The stock has a market capitalization of $9.09 billion, a PE ratio of 20.05, a P/E/G ratio of 6.54 and a beta of 0.13. National Retail Properties has a one year low of $42.97 and a one year high of $57.80.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.83%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, July 30th. National Retail Properties’s payout ratio is presently 76.87%.
In other news, EVP Michelle Lynn Miller sold 1,700 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total value of $94,248.00. Following the completion of the transaction, the executive vice president now owns 39,454 shares of the company’s stock, valued at approximately $2,187,329.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its position in National Retail Properties by 170.8% during the 1st quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 292 shares during the period. JJJ Advisors Inc. purchased a new position in shares of National Retail Properties in the 2nd quarter worth about $31,000. Cascade Investment Advisors Inc. bought a new position in National Retail Properties in the 2nd quarter worth about $32,000. Stonebridge Capital Advisors LLC bought a new position in National Retail Properties in the 2nd quarter worth about $32,000. Finally, Pearl River Capital LLC purchased a new stake in National Retail Properties during the 1st quarter valued at about $34,000. Institutional investors own 90.23% 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.
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