National Retail Properties CEO Unloads $711,103 in Stock (NNN)
National Retail Properties (NYSE:NNN) CEO Craig Macnab sold 19,219 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $37.00, for a total value of $711,103.00. Following the transaction, the chief executive officer now directly owns 525,040 shares of the company’s stock, valued at approximately $19,426,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on NNN. Analysts at Ladenburg Thalmann downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Friday, July 25th. Separately, analysts at Morgan Stanley downgraded shares of National Retail Properties from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of National Retail Properties in a research note on Friday, July 11th. They now have a $37.00 price target on the stock, up previously from $30.00. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $37.08.
Shares of National Retail Properties (NYSE:NNN) traded down 0.11% on Friday, hitting $37.09. 883,677 shares of the company’s stock traded hands. National Retail Properties has a one year low of $30.01 and a one year high of $38.04. The stock’s 50-day moving average is $36.91 and its 200-day moving average is $35.16. The company has a market cap of $4.639 billion and a price-to-earnings ratio of 32.04.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.01. The company had revenue of $105.60 million for the quarter, compared to the consensus estimate of $103.85 million. During the same quarter last year, the company posted $0.47 earnings per share. National Retail Properties’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that National Retail Properties will post $2.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, July 29th. This is an increase from National Retail Properties’s previous quarterly dividend of $0.41.
National Retail Properties, Inc (NYSE:NNN) is a fully integrated real estate investment trust (REIT).
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