National Retail Properties (NNN) Releases FY17 Earnings Guidance
National Retail Properties (NYSE:NNN) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.54-2.56 for the period, compared to the Thomson Reuters consensus estimate of $2.51. National Retail Properties also updated its FY18 guidance to $2.64-2.68 EPS.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.29). The firm had revenue of $145.55 million for the quarter, compared to the consensus estimate of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Monday, October 30th. National Retail Properties’s dividend payout ratio (DPR) is 142.86%.
A number of research firms recently issued reports on NNN. Robert W. Baird reissued a buy rating and issued a $46.00 price target on shares of National Retail Properties in a research note on Friday, October 20th. Zacks Investment Research raised shares of National Retail Properties from a hold rating to a buy rating and set a $47.00 price target for the company in a research note on Wednesday, October 11th. Ladenburg Thalmann Financial Services raised shares of National Retail Properties from a neutral rating to a buy rating and set a $47.00 price target for the company in a research note on Monday, September 11th. Finally, FBR & Co reissued a buy rating and issued a $52.00 price target on shares of National Retail Properties in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. National Retail Properties has a consensus rating of Buy and an average target price of $47.33.
In related news, EVP Stephen A. Horn, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $41.11, for a total value of $411,100.00. Following the completion of the transaction, the executive vice president now directly owns 90,462 shares of the company’s stock, valued at $3,718,892.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Julian E. Whitehurst sold 17,413 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $41.46, for a total transaction of $721,942.98. Following the completion of the transaction, the insider now directly owns 294,826 shares of the company’s stock, valued at $12,223,485.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,912 shares of company stock valued at $2,164,138. 1.03% of the stock is owned by insiders.
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National Retail Properties Company Profile
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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