Equities analysts predict that National Retail Properties, Inc. (NYSE:NNN) will announce earnings per share of $0.70 for the current quarter, according to Zacks. Seven analysts have issued estimates for National Retail Properties’ earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.72. National Retail Properties reported earnings of $0.65 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The firm is expected to report its next earnings results on Tuesday, February 11th.
On average, analysts expect that National Retail Properties will report full-year earnings of $2.75 per share for the current fiscal year, with EPS estimates ranging from $2.73 to $2.77. For the next fiscal year, analysts expect that the firm will report earnings of $2.87 per share, with EPS estimates ranging from $2.85 to $2.89. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover National Retail Properties.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.34). The company had revenue of $168.61 million during the quarter, compared to the consensus estimate of $166.93 million. National Retail Properties had a return on equity of 6.93% and a net margin of 38.62%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share.
A number of analysts recently issued reports on NNN shares. ValuEngine downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on National Retail Properties in a research report on Thursday, October 10th. They set a “buy” rating and a $75.00 target price for the company. Morgan Stanley lifted their target price on National Retail Properties from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Co set a $62.00 target price on National Retail Properties and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.29.
NNN traded up $0.68 during trading on Thursday, reaching $56.34. The company had a trading volume of 91,615 shares, compared to its average volume of 1,001,101. The stock has a market cap of $9.53 billion, a P/E ratio of 21.02, a PEG ratio of 6.59 and a beta of 0.09. The business has a 50 day simple moving average of $56.87 and a 200-day simple moving average of $54.71. National Retail Properties has a 52 week low of $45.45 and a 52 week high of $59.26. The company has a quick ratio of 8.39, a current ratio of 8.39 and a debt-to-equity ratio of 0.71.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.515 per share. The ex-dividend date is Wednesday, October 30th. This represents a $2.06 annualized dividend and a dividend yield of 3.66%. National Retail Properties’s dividend payout ratio (DPR) is 76.87%.
In other news, EVP Michelle Lynn Miller sold 1,700 shares of National Retail Properties stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total transaction of $94,248.00. Following the completion of the sale, the executive vice president now directly owns 39,454 shares in the company, valued at $2,187,329.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in NNN. PGGM Investments raised its holdings in shares of National Retail Properties by 369.6% in the second quarter. PGGM Investments now owns 3,164,375 shares of the real estate investment trust’s stock valued at $167,744,000 after acquiring an additional 2,490,524 shares in the last quarter. Centersquare Investment Management LLC bought a new stake in shares of National Retail Properties in the second quarter valued at about $21,503,000. Zimmer Partners LP raised its holdings in shares of National Retail Properties by 60.0% in the second quarter. Zimmer Partners LP now owns 1,000,000 shares of the real estate investment trust’s stock valued at $53,010,000 after acquiring an additional 375,000 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of National Retail Properties by 28.2% in the second quarter. California Public Employees Retirement System now owns 1,207,088 shares of the real estate investment trust’s stock valued at $63,988,000 after acquiring an additional 265,308 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of National Retail Properties by 10.7% in the second quarter. Nuveen Asset Management LLC now owns 1,795,033 shares of the real estate investment trust’s stock valued at $95,155,000 after acquiring an additional 172,860 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.
National Retail Properties Company Profile
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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