National Retail Properties (NNN) Updates FY18 Earnings Guidance
National Retail Properties (NYSE:NNN) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.64-2.68 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.65. National Retail Properties also updated its FY17 guidance to $2.54-2.56 EPS.
National Retail Properties (NYSE:NNN) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.29). The business had revenue of $145.55 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a $0.475 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.73%. National Retail Properties’s payout ratio is 142.86%.
A number of equities analysts recently weighed in on NNN shares. Zacks Investment Research upgraded shares of National Retail Properties from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Wednesday, August 2nd. Robert W. Baird reiterated a buy rating and issued a $46.00 price objective on shares of National Retail Properties in a research report on Friday, October 20th. Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties from a neutral rating to a buy rating and set a $47.00 price objective on the stock in a research report on Monday, September 11th. Finally, FBR & Co reiterated a buy rating and issued a $52.00 price objective on shares of National Retail Properties in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $47.33.
In related news, insider Julian E. Whitehurst sold 17,413 shares of National Retail Properties stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $41.46, for a total value of $721,942.98. Following the transaction, the insider now directly owns 294,826 shares in the company, valued at approximately $12,223,485.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michelle Lynn Miller sold 2,000 shares of National Retail Properties stock in a transaction on Friday, August 4th. The shares were sold at an average price of $40.28, for a total transaction of $80,560.00. Following the completion of the transaction, the executive vice president now owns 21,267 shares in the company, valued at $856,634.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,912 shares of company stock worth $2,164,138. 1.03% of the stock is currently owned by insiders.
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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