National Retail Properties, Inc. (NYSE:NNN) – DA Davidson lowered their Q1 2019 earnings estimates for shares of National Retail Properties in a note issued to investors on Tuesday. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will post earnings per share of $0.67 for the quarter, down from their previous estimate of $0.68. DA Davidson also issued estimates for National Retail Properties’ Q2 2019 earnings at $0.68 EPS and FY2019 earnings at $2.73 EPS.
A number of other research firms have also recently issued reports on NNN. B. Riley set a $52.00 price target on National Retail Properties and gave the stock a “buy” rating in a report on Tuesday, November 14th. Robert W. Baird reaffirmed a “buy” rating and set a $46.00 target price on shares of National Retail Properties in a research report on Friday, October 20th. UBS Group raised National Retail Properties from a “sell” rating to a “neutral” rating and upped their target price for the stock from $36.00 to $42.00 in a research report on Thursday, November 9th. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Ladenburg Thalmann Financial Services set a $47.00 target price on National Retail Properties and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $46.50.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $150.20 million for the quarter, compared to the consensus estimate of $148.46 million. National Retail Properties had a return on equity of 8.52% and a net margin of 45.30%. National Retail Properties’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Tuesday, January 30th. National Retail Properties’s payout ratio is 131.03%.
In other news, CFO Kevin B. Habicht sold 20,664 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $42.60, for a total transaction of $880,286.40. Following the transaction, the chief financial officer now directly owns 125,722 shares of the company’s stock, valued at $5,355,757.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 750 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $43.03, for a total value of $32,272.50. Following the transaction, the executive vice president now directly owns 20,517 shares in the company, valued at $882,846.51. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNN. BlackRock Inc. raised its position in National Retail Properties by 8.5% in the 4th quarter. BlackRock Inc. now owns 20,072,900 shares of the real estate investment trust’s stock valued at $865,742,000 after buying an additional 1,580,677 shares during the last quarter. Victory Capital Management Inc. raised its position in National Retail Properties by 13.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,558,051 shares of the real estate investment trust’s stock valued at $196,589,000 after buying an additional 532,589 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in National Retail Properties in the 4th quarter valued at $13,977,000. Green Street Investors LLC purchased a new stake in National Retail Properties in the 4th quarter valued at $11,951,000. Finally, Wells Fargo & Company MN raised its position in National Retail Properties by 14.8% in the 3rd quarter. Wells Fargo & Company MN now owns 2,143,861 shares of the real estate investment trust’s stock valued at $89,314,000 after buying an additional 276,823 shares during the last quarter. 90.13% of the stock is owned by institutional investors and hedge funds.
National Retail Properties Company Profile
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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