Wall Street brokerages predict that National Retail Properties, Inc. (NYSE:NNN) will report earnings of $0.65 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for National Retail Properties’ earnings, with estimates ranging from $0.65 to $0.66. National Retail Properties posted earnings of $0.60 per share in the same quarter last year, which suggests a positive year over year growth rate of 8.3%. The firm is expected to report its next quarterly earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that National Retail Properties will report full year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.62 to $2.66. For the next fiscal year, analysts expect that the business will report earnings of $2.75 per share, with EPS estimates ranging from $2.71 to $2.79. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for National Retail Properties.
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 the Zacks’ consensus estimate of $0.64 by ($0.01). The company had revenue of $150.20 million during the quarter, compared to analysts’ expectations of $148.46 million. National Retail Properties had a return on equity of 8.52% and a net margin of 45.30%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS.
A number of research analysts have issued reports on the stock. Ladenburg Thalmann set a $47.00 price target on shares of National Retail Properties and gave the stock a “buy” rating in a report on Wednesday, January 24th. TheStreet cut shares of National Retail Properties from a “b” rating to a “c+” rating in a report on Wednesday, February 7th. Finally, B. Riley set a $47.00 price target on shares of National Retail Properties and gave the stock a “buy” rating in a report on Tuesday, February 13th. 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 company has a consensus rating of “Hold” and a consensus target price of $46.50.
Shares of NYSE NNN traded down $1.09 during midday trading on Thursday, reaching $38.01. The company had a trading volume of 780,299 shares, compared to its average volume of 1,075,496. The stock has a market cap of $6,022.01, a P/E ratio of 14.96, a P/E/G ratio of 3.07 and a beta of 0.27. National Retail Properties has a 1 year low of $36.25 and a 1 year high of $45.63. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.80.
In other news, EVP Stephen A. Horn, Jr. sold 12,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $37.64, for a total value of $451,680.00. Following the sale, the executive vice president now owns 102,433 shares in the company, valued at $3,855,578.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board acquired a new stake in shares of National Retail Properties in the fourth quarter worth $1,591,000. Tandem Investment Advisors Inc. grew its position in National Retail Properties by 2.0% during the fourth quarter. Tandem Investment Advisors Inc. now owns 174,611 shares of the real estate investment trust’s stock valued at $7,531,000 after buying an additional 3,457 shares during the period. Vident Investment Advisory LLC acquired a new stake in National Retail Properties during the third quarter valued at $287,000. OppenheimerFunds Inc. grew its position in National Retail Properties by 21.0% during the fourth quarter. OppenheimerFunds Inc. now owns 23,444 shares of the real estate investment trust’s stock valued at $1,011,000 after buying an additional 4,076 shares during the period. Finally, Bank of New York Mellon Corp grew its position in National Retail Properties by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,934,639 shares of the real estate investment trust’s stock valued at $83,441,000 after buying an additional 49,731 shares during the period. Hedge funds and other institutional investors own 90.09% of the company’s stock.
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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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