National Retail Properties, Inc. (NYSE:NNN) Announces $0.53 Quarterly Dividend

National Retail Properties, Inc. (NYSE:NNN) declared a quarterly dividend on Friday, January 14th, RTT News reports. Stockholders of record on Monday, January 31st will be paid a dividend of 0.53 per share by the real estate investment trust on Tuesday, February 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.48%.

National Retail Properties has raised its dividend payment by 7.7% over the last three years and has increased its dividend every year for the last 33 years. National Retail Properties has a payout ratio of 115.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect National Retail Properties to earn $3.00 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 70.7%.

National Retail Properties stock opened at $47.33 on Friday. The business has a 50 day simple moving average of $46.32 and a 200-day simple moving average of $46.53. The stock has a market capitalization of $8.31 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 10.98 and a quick ratio of 10.98. National Retail Properties has a 12 month low of $38.32 and a 12 month high of $50.33.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. National Retail Properties had a return on equity of 6.95% and a net margin of 38.98%. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, equities research analysts anticipate that National Retail Properties will post 2.94 EPS for the current year.

An institutional investor recently raised its position in National Retail Properties stock. Morgan Stanley boosted its stake in National Retail Properties, Inc. (NYSE:NNN) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 943,093 shares of the real estate investment trust’s stock after purchasing an additional 130,339 shares during the period. Morgan Stanley owned approximately 0.54% of National Retail Properties worth $44,212,000 at the end of the most recent reporting period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the company. Morgan Stanley decreased their price target on National Retail Properties from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, December 3rd. Zacks Investment Research downgraded shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Wednesday, January 5th. Royal Bank of Canada initiated coverage on shares of National Retail Properties in a research note on Friday, September 17th. They set a “sector perform” rating and a $48.00 price target on the stock. Finally, Jefferies Financial Group cut shares of National Retail Properties from a “buy” rating to a “hold” rating and lowered their price objective for the company from $54.00 to $50.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, National Retail Properties currently has a consensus rating of “Hold” and an average price target of $51.13.

About National Retail Properties

National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.

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Dividend History for National Retail Properties (NYSE:NNN)

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