National Retail Properties (NYSE:NNN) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.54-2.56 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.51. National Retail Properties also updated its FY18 guidance to $2.64-2.68 EPS.

National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $147.71 million for the quarter, compared to analysts’ expectations of $146.57 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of Infinity. The ex-dividend date is Monday, October 30th. National Retail Properties’s payout ratio is 142.86%.

A number of research analysts have weighed in on NNN shares. Zacks Investment Research upgraded shares of National Retail Properties from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Wednesday, August 2nd. FBR & Co restated a buy rating and set a $52.00 price target on shares of National Retail Properties in a research note on Thursday, September 7th. Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties from a neutral rating to a buy rating and set a $47.00 price target on the stock in a research note on Monday, September 11th. Finally, Robert W. Baird restated a buy rating and set a $46.00 price target on shares of National Retail Properties in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $47.33.

In related news, insider Julian E. Whitehurst sold 17,413 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $41.46, for a total transaction of $721,942.98. Following the sale, the insider now directly owns 294,826 shares in the company, valued at approximately $12,223,485.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen A. Horn, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $41.11, for a total transaction of $411,100.00. Following the sale, the executive vice president now owns 90,462 shares in the company, valued at $3,718,892.82. The disclosure for this sale can be found here. Insiders have sold a total of 52,912 shares of company stock worth $2,164,138 over the last 90 days. 1.03% of the stock is currently owned by corporate insiders.

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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.

Earnings History and Estimates for National Retail Properties (NYSE:NNN)

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