National Retail Properties, Inc. (NNN) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS
National Retail Properties, Inc. (NYSE:NNN) released its earnings results on Thursday. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01, Bloomberg Earnings reports. National Retail Properties had a net margin of 44.96% and a return on equity of 8.05%. The business had revenue of $147.71 million during the quarter, compared to analyst estimates of $146.57 million. During the same period in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. National Retail Properties updated its FY17 guidance to $2.54-2.56 EPS and its FY18 guidance to $2.64-2.68 EPS.
Shares of National Retail Properties (NYSE NNN) traded up $0.57 on Friday, hitting $40.81. 1,160,011 shares of the stock traded hands, compared to its average volume of 746,950. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 3.40 and a beta of 0.40. The company has a current ratio of 7.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.72. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $46.34.
The firm also recently declared 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. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.90 annualized dividend and a dividend yield of 4.66%. National Retail Properties’s dividend payout ratio (DPR) is 155.74%.
Several analysts recently commented on NNN shares. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, August 2nd. FBR & Co restated a “buy” rating and issued a $52.00 price target on shares of National Retail Properties in a research report on Thursday, September 7th. Ladenburg Thalmann Financial Services upgraded 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 report on Monday, September 11th. Finally, Robert W. Baird restated a “buy” rating and issued a $46.00 price target on shares of National Retail Properties in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $47.33.
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In other news, EVP Stephen A. Horn, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $41.11, for a total transaction of $411,100.00. Following the completion of the sale, the executive vice president now directly owns 90,462 shares of the company’s stock, valued at approximately $3,718,892.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $721,942.98. Following the transaction, the insider now owns 294,826 shares in the company, valued at approximately $12,223,485.96. The disclosure for this sale can be found here. Insiders have sold a total of 50,912 shares of company stock valued at $2,083,578 over the last three months. Corporate insiders own 1.03% 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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