National Retail Properties (NNN) to Post FY2018 Earnings of $2.67 Per Share, FBR & Co Forecasts
National Retail Properties (NYSE:NNN) – Analysts at FBR & Co issued their FY2018 earnings per share (EPS) estimates for National Retail Properties in a research note issued to investors on Tuesday. FBR & Co analyst D. Corak forecasts that the brokerage will post earnings per share of $2.67 for the year. FBR & Co currently has a “Outperform” rating and a $56.00 target price on the stock.
NNN has been the topic of several other reports. Wunderlich lifted their price target on shares of National Retail Properties from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. BTIG Research began coverage on shares of National Retail Properties in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Stifel Nicolaus lifted their price target on shares of National Retail Properties from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, July 11th. Citigroup Inc. lifted their price target on shares of National Retail Properties from $40.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. National Retail Properties currently has a consensus rating of “Hold” and an average price target of $51.95.
National Retail Properties (NYSE:NNN) traded up 0.81% during midday trading on Thursday, hitting $47.37. The stock had a trading volume of 1,101,795 shares. The firm has a market capitalization of $6.96 billion, a P/E ratio of 36.05 and a beta of 0.35. The firm has a 50-day moving average of $49.71 and a 200 day moving average of $48.60. National Retail Properties has a 52-week low of $35.67 and a 52-week high of $53.60.
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National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm earned $130.92 million during the quarter, compared to analyst estimates of $129.73 million. National Retail Properties had a return on equity of 7.88% and a net margin of 43.41%. National Retail Properties’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the company. Hexavest Inc. purchased a new position in shares of National Retail Properties during the third quarter worth $114,000. NEXT Financial Group Inc increased its position in shares of National Retail Properties by 134.9% in the second quarter. NEXT Financial Group Inc now owns 2,636 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 1,514 shares during the period. Pacad Investment Ltd. purchased a new position in shares of National Retail Properties during the second quarter worth $155,000. Canada Pension Plan Investment Board increased its position in shares of National Retail Properties by 6.3% in the first quarter. Canada Pension Plan Investment Board now owns 3,400 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 200 shares during the period. Finally, FCA Corp TX purchased a new position in shares of National Retail Properties during the second quarter worth $207,000. Institutional investors and hedge funds own 94.27% of the company’s stock.
In other National Retail Properties news, insider Christopher Paul Tessitore sold 7,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $51.33, for a total value of $359,310.00. Following the completion of the transaction, the insider now owns 116,202 shares in the company, valued at $5,964,648.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $51.17, for a total transaction of $51,170.00. Following the completion of the transaction, the executive vice president now owns 21,367 shares of the company’s stock, valued at approximately $1,093,349.39. The disclosure for this sale can be found here. Corporate insiders own 1.25% of the company’s stock.
About National Retail Properties
National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.
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