National Retail Properties Sees Unusually High Options Volume (NYSE:NNN)

National Retail Properties, Inc. (NYSE:NNN) saw some unusual options trading on Tuesday. Stock investors purchased 882 call options on the stock. This is an increase of approximately 963% compared to the typical daily volume of 83 call options.

NNN opened at $35.92 on Wednesday. The business has a fifty day moving average of $35.35 and a 200 day moving average of $37.68. National Retail Properties has a 52-week low of $24.04 and a 52-week high of $59.26. The company has a quick ratio of 13.98, a current ratio of 13.98 and a debt-to-equity ratio of 0.81. The stock has a market cap of $6.28 billion, a P/E ratio of 13.10 and a beta of 0.63.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.36). National Retail Properties had a net margin of 35.75% and a return on equity of 6.12%. The business had revenue of $163.10 million for the quarter, compared to analysts’ expectations of $167.84 million. During the same quarter in the previous year, the firm earned $0.69 EPS. National Retail Properties’s revenue was down 1.0% compared to the same quarter last year. Equities analysts anticipate that National Retail Properties will post 2.54 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.79%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, July 30th. National Retail Properties’s dividend payout ratio is currently 75.36%.

Several hedge funds have recently modified their holdings of NNN. PGGM Investments purchased a new stake in shares of National Retail Properties in the 2nd quarter worth $121,190,000. FMR LLC lifted its holdings in shares of National Retail Properties by 40.4% in the 2nd quarter. FMR LLC now owns 10,440,266 shares of the real estate investment trust’s stock worth $370,421,000 after buying an additional 3,004,791 shares during the period. Invesco Ltd. lifted its holdings in shares of National Retail Properties by 136.0% in the 1st quarter. Invesco Ltd. now owns 4,073,145 shares of the real estate investment trust’s stock worth $131,115,000 after buying an additional 2,347,378 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of National Retail Properties by 203.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,982,616 shares of the real estate investment trust’s stock worth $96,010,000 after purchasing an additional 1,998,765 shares during the last quarter. Finally, Brookfield Asset Management Inc. purchased a new stake in shares of National Retail Properties during the 2nd quarter worth $69,205,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

NNN has been the topic of several recent analyst reports. ValuEngine downgraded National Retail Properties from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Zacks Investment Research downgraded National Retail Properties from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Morgan Stanley lifted their price objective on National Retail Properties from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Citigroup lifted their price objective on National Retail Properties from $28.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Finally, B. Riley reduced their price objective on National Retail Properties from $49.00 to $45.00 in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $44.71.

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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