National Retail Properties (NNN) to Issue $0.48 Quarterly Dividend
National Retail Properties (NYSE:NNN) declared a quarterly dividend on Monday, April 16th, RTT News reports. Shareholders of record on Monday, April 30th will be given a dividend of 0.475 per share by the real estate investment trust on Tuesday, May 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.95%.
National Retail Properties has raised its dividend by an average of 4.1% annually over the last three years and has increased its dividend every year for the last 8 years. National Retail Properties has a dividend payout ratio of 75.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect National Retail Properties to earn $2.75 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 69.1%.
Shares of NYSE NNN opened at $38.36 on Monday. The stock has a market cap of $5,875.80, a PE ratio of 15.03, a price-to-earnings-growth ratio of 2.99 and a beta of 0.27. National Retail Properties has a 12 month low of $36.25 and a 12 month high of $45.63. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.80.
In related news, EVP Stephen A. Horn, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $37.64, for a total value of $451,680.00. Following the completion of the sale, the executive vice president now owns 102,433 shares in the company, valued at approximately $3,855,578.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.78% of the company’s stock.
A number of research firms recently weighed in on NNN. Ladenburg Thalmann 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. B. Riley restated a “buy” rating and issued a $47.00 target price on shares of National Retail Properties in a research report on Monday, March 12th. Finally, TheStreet downgraded National Retail Properties from a “b” rating to a “c+” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. National Retail Properties has a consensus rating of “Hold” and a consensus price target of $46.50.
National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2017, the company owned 2,764 properties in 48 states with a gross leasable area of approximately 29.1 million square feet and with a weighted average remaining lease term of 11.5 years.
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