Analysts Anticipate National Retail Properties, Inc. (NYSE:NNN) Will Post Earnings of $0.68 Per Share
Wall Street analysts predict that National Retail Properties, Inc. (NYSE:NNN) will announce earnings of $0.68 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for National Retail Properties’ earnings. The lowest EPS estimate is $0.67 and the highest is $0.70. National Retail Properties also posted earnings of $0.68 per share during the same quarter last year. The firm is expected to announce its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that National Retail Properties will report full-year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.73 to $2.80. For the next fiscal year, analysts anticipate that the business will post earnings of $2.88 per share, with EPS estimates ranging from $2.85 to $2.96. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for National Retail Properties.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.23). The company had revenue of $163.71 million during the quarter, compared to analysts’ expectations of $161.34 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 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share.
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 49,892 shares of company stock worth $2,574,888 over the last quarter. Insiders own 0.70% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Cornerstone Advisors Inc. grew its position in shares of National Retail Properties by 170.8% during the first quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 292 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of National Retail Properties during the first quarter worth about $34,000. Lazard Asset Management LLC grew its position in shares of National Retail Properties by 291.7% during the first quarter. Lazard Asset Management LLC now owns 662 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 493 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of National Retail Properties by 384.7% during the first quarter. Rockefeller Capital Management L.P. now owns 664 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 527 shares in the last quarter. Finally, Cutler Group LP grew its position in shares of National Retail Properties by 384.4% during the fourth quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 738 shares in the last quarter. Institutional investors own 89.52% of the company’s stock.
NNN traded up $0.18 on Friday, hitting $55.28. The company had a trading volume of 634,828 shares, compared to its average volume of 932,902. The firm has a market cap of $9.00 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 4.67 and a beta of 0.22. National Retail Properties has a 1 year low of $41.83 and a 1 year high of $55.87. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.81.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.00 dividend on an annualized basis and a yield of 3.62%. National Retail Properties’s dividend payout ratio (DPR) is presently 74.63%.
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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