National Retail Properties, Inc. (NNN) Declares Quarterly Dividend of $0.48
National Retail Properties, Inc. (NYSE:NNN) announced a quarterly dividend on Tuesday, January 16th, NASDAQ reports. Investors of record on Wednesday, January 31st will be paid a dividend of 0.475 per share by the real estate investment trust on Thursday, February 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Tuesday, January 30th.
National Retail Properties has raised its dividend payment by an average of 4.1% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. National Retail Properties has a dividend payout ratio of 75.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect National Retail Properties to earn $2.64 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 72.0%.
Shares of National Retail Properties (NYSE:NNN) opened at $39.96 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 7.66 and a quick ratio of 7.66. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $46.34. The stock has a market capitalization of $6,080.00, a price-to-earnings ratio of 32.75, a P/E/G ratio of 3.14 and a beta of 0.39.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The company had revenue of $147.71 million for the quarter, compared to the consensus estimate of $146.57 million. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. analysts expect that National Retail Properties will post 2.53 EPS for the current fiscal year.
In other news, EVP Michelle Lynn Miller sold 750 shares of National Retail Properties stock in a transaction dated 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 owns 20,517 shares in the company, valued at $882,846.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevin B. Habicht sold 20,664 shares of National Retail Properties stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $42.60, for a total value of $880,286.40. Following the completion of the transaction, the chief financial officer now owns 125,722 shares in the company, valued at approximately $5,355,757.20. The disclosure for this sale can be found here. Insiders have sold 821,414 shares of company stock worth $947,559 in the last 90 days. Company insiders own 1.03% of the company’s stock.
NNN has been the topic of a number of research reports. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of National Retail Properties in a research report on Thursday, November 2nd. B. Riley set a $52.00 price target on National Retail Properties and gave the company a “buy” rating in a research report on Tuesday, November 14th. UBS Group upgraded National Retail Properties from a “sell” rating to a “neutral” rating and raised their price target for the company from $36.00 to $42.00 in a research report on Thursday, November 9th. Robert W. Baird restated a “buy” rating and set a $46.00 price target on shares of National Retail Properties in a research report on Friday, October 20th. Finally, Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $47.71.
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About National Retail Properties
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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