National Retail Properties (NYSE:NNN) Releases Quarterly Earnings Results, Misses Estimates By $0.25 EPS

National Retail Properties (NYSE:NNN) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.25), Fidelity Earnings reports. The company had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $163.73 million. National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. National Retail Properties updated its FY19 guidance to $2.76-2.81 EPS and its FY 2019 guidance to $2.71-2.76 EPS.

NYSE:NNN traded up $0.77 on Friday, reaching $53.17. 916,407 shares of the company’s stock were exchanged, compared to its average volume of 923,376. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.81. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 5.50 and a beta of 0.16. The business has a fifty day simple moving average of $53.52. National Retail Properties has a 52-week low of $42.97 and a 52-week high of $55.97.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a yield of 3.87%. National Retail Properties’s dividend payout ratio is 76.87%.

Several analysts recently issued reports on the stock. ValuEngine lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday. Raymond James set a $57.00 price objective on shares of National Retail Properties and gave the company a “hold” rating in a report on Monday, May 20th. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of National Retail Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $54.91, for a total transaction of $82,365.00. Following the sale, the executive vice president now directly owns 34,154 shares in the company, valued at $1,875,396.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Paul Tessitore sold 2,550 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total transaction of $65,509.50. The disclosure for this sale can be found here. Insiders have sold 41,949 shares of company stock worth $2,135,298 over the last quarter. Insiders own 0.70% of the company’s stock.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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Earnings History for National Retail Properties (NYSE:NNN)

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