National Retail Properties, Inc. (NYSE:NNN) – Analysts at Capital One Financial upped their FY2019 earnings per share (EPS) estimates for National Retail Properties in a research note issued to investors on Friday, August 2nd. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will post earnings of $2.76 per share for the year, up from their previous forecast of $2.75. Capital One Financial also issued estimates for National Retail Properties’ Q4 2019 earnings at $0.70 EPS, Q1 2020 earnings at $0.70 EPS, Q1 2021 earnings at $0.74 EPS, Q2 2021 earnings at $0.75 EPS and FY2021 earnings at $3.03 EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James set a $57.00 price target on National Retail Properties and gave the stock a “hold” rating in a research report on Monday, May 20th. Morgan Stanley upped their price target on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, ValuEngine downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.00.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of National Retail Properties by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,375,477 shares of the real estate investment trust’s stock valued at $115,234,000 after buying an additional 29,973 shares during the period. Stifel Financial Corp raised its stake in National Retail Properties by 29.7% during the fourth quarter. Stifel Financial Corp now owns 9,007 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 2,060 shares during the period. Norges Bank purchased a new position in National Retail Properties during the fourth quarter worth approximately $61,092,000. Geode Capital Management LLC raised its stake in National Retail Properties by 14.0% during the fourth quarter. Geode Capital Management LLC now owns 1,746,795 shares of the real estate investment trust’s stock worth $84,683,000 after purchasing an additional 214,643 shares during the period. Finally, American Century Companies Inc. purchased a new position in National Retail Properties during the fourth quarter worth approximately $14,709,000. 90.41% of the stock is owned by institutional investors.
In other news, insider Christopher Paul Tessitore sold 2,550 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total value of $65,509.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle Lynn Miller sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the sale, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at approximately $1,875,396.14. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Tuesday, July 30th. This is an increase from National Retail Properties’s previous quarterly dividend of $0.50. National Retail Properties’s dividend payout ratio is presently 76.87%.
About National Retail Properties
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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