National Retail Properties, Inc. (NYSE:NNN) declared a quarterly dividend on Friday, January 14th, RTT News reports. Investors of record on Monday, January 31st will be paid a dividend of 0.53 per share by the real estate investment trust on Tuesday, February 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, January 28th.
National Retail Properties has raised its dividend payment by 7.7% over the last three years and has increased its dividend every year for the last 33 years. National Retail Properties has a payout ratio of 115.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect National Retail Properties to earn $3.00 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 70.7%.
Shares of NYSE NNN opened at $46.84 on Friday. The business has a fifty day simple moving average of $46.32 and a 200 day simple moving average of $46.53. The company has a current ratio of 10.98, a quick ratio of 10.98 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 4.00 and a beta of 0.88. National Retail Properties has a one year low of $38.32 and a one year high of $50.33.
NNN has been the subject of a number of recent research reports. Royal Bank of Canada started coverage on National Retail Properties in a research note on Friday, September 17th. They issued a “sector perform” rating and a $48.00 target price for the company. Jefferies Financial Group lowered National Retail Properties from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $54.00 to $50.00 in a research note on Monday, January 10th. Zacks Investment Research lowered National Retail Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, January 5th. Finally, Morgan Stanley dropped their price objective on National Retail Properties from $56.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, December 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.13.
An institutional investor recently raised its position in National Retail Properties stock. Morgan Stanley boosted its position in National Retail Properties, Inc. (NYSE:NNN) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 943,093 shares of the real estate investment trust’s stock after acquiring an additional 130,339 shares during the period. Morgan Stanley owned 0.54% of National Retail Properties worth $44,212,000 at the end of the most recent quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.
National Retail Properties Company Profile
National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.
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