National Retail Properties (NYSE:NNN) Expected to Announce Quarterly Sales of $142.77 Million
Equities analysts forecast that National Retail Properties (NYSE:NNN) will announce sales of $142.77 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for National Retail Properties’ earnings. The lowest sales estimate is $140.88 million and the highest is $145.50 million. National Retail Properties posted sales of $130.18 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The business is expected to announce its next earnings report before the market opens on Tuesday, August 1st.
According to Zacks, analysts expect that National Retail Properties will report full year sales of $142.77 million for the current fiscal year, with estimates ranging from $566.45 million to $585.06 million. For the next year, analysts forecast that the business will post sales of $600.88 million per share, with estimates ranging from $570.97 million to $639.96 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow National Retail Properties.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.27. National Retail Properties had a net margin of 44.24% and a return on equity of 8.07%. The firm had revenue of $141.43 million for the quarter, compared to the consensus estimate of $141.51 million. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year.
Separately, BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.
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National Retail Properties (NYSE NNN) traded up 1.21% on Wednesday, reaching $40.14. 615,510 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.99 billion, a PE ratio of 31.04 and a beta of 0.38. The firm has a 50 day moving average of $38.71 and a 200 day moving average of $42.03. National Retail Properties has a 12 month low of $36.45 and a 12 month high of $53.60.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.73%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s dividend payout ratio is currently 140.00%.
A number of large investors have recently bought and sold shares of NNN. GSA Capital Partners LLP acquired a new stake in National Retail Properties during the fourth quarter worth $311,000. Norges Bank bought a new stake in National Retail Properties during the fourth quarter valued at about $38,021,000. UBS Asset Management Americas Inc. raised its stake in National Retail Properties by 60.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 521,314 shares of the real estate investment trust’s stock valued at $23,042,000 after buying an additional 197,292 shares during the period. Macquarie Group Ltd. raised its stake in National Retail Properties by 11.3% in the fourth quarter. Macquarie Group Ltd. now owns 677,806 shares of the real estate investment trust’s stock valued at $29,959,000 after buying an additional 68,871 shares during the period. Finally, First Financial Bank N.A. Trust Division raised its stake in National Retail Properties by 3.4% in the first quarter. First Financial Bank N.A. Trust Division now owns 117,237 shares of the real estate investment trust’s stock valued at $5,114,000 after buying an additional 3,802 shares during the period. Institutional investors and hedge funds own 89.19% 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 primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.
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