National Retail Properties, Inc. (NNN) Expected to Post Quarterly Sales of $148.75 Million
Equities research analysts predict that National Retail Properties, Inc. (NYSE:NNN) will post sales of $148.75 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for National Retail Properties’ earnings, with estimates ranging from $147.12 million to $151.36 million. National Retail Properties posted sales of $140.68 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The business is expected to issue its next earnings results on Monday, February 12th.
On average, analysts expect that National Retail Properties will report full year sales of $148.75 million for the current year, with estimates ranging from $581.19 million to $585.43 million. For the next fiscal year, analysts expect that the company will post sales of $615.39 million per share, with estimates ranging from $596.71 million to $644.11 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover National Retail Properties.
Several research analysts have recently weighed in on NNN shares. B. Riley restated a “buy” rating on shares of National Retail Properties in a research note on Friday, November 3rd. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of National Retail Properties in a research note on Thursday, November 2nd. Robert W. Baird reiterated a “buy” rating and set a $46.00 price objective on shares of National Retail Properties in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, October 11th. Finally, UBS Group upgraded shares of National Retail Properties from a “sell” rating to a “neutral” rating and increased their price objective for the company from $36.00 to $42.00 in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.67.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.90 dividend on an annualized basis and a yield of 5.14%. National Retail Properties’s dividend payout ratio (DPR) is 135.72%.
In other National Retail Properties news, EVP Michelle Lynn Miller sold 750 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.03, for a total transaction of $32,272.50. Following the sale, the executive vice president now directly owns 20,517 shares of the company’s stock, valued at $882,846.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin B. Habicht sold 20,664 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $42.60, for a total transaction of $880,286.40. Following the sale, the chief financial officer now directly owns 125,722 shares in the company, valued at $5,355,757.20. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.
Large investors have recently modified their holdings of the business. ING Groep NV acquired a new stake in shares of National Retail Properties during the fourth quarter worth $205,000. Independent Advisor Alliance acquired a new stake in shares of National Retail Properties during the third quarter worth $204,000. Lourd Capital LLC acquired a new stake in shares of National Retail Properties during the fourth quarter worth $217,000. Timber Hill LLC acquired a new stake in shares of National Retail Properties during the third quarter worth $212,000. Finally, BB&T Investment Services Inc. acquired a new stake in shares of National Retail Properties during the second quarter worth $212,000. 90.10% of the stock is currently owned by institutional investors.
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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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