$0.70 Earnings Per Share Expected for National Retail Properties, Inc. (NYSE:NNN) This Quarter

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Brokerages expect National Retail Properties, Inc. (NYSE:NNN) to report earnings per share of $0.70 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for National Retail Properties’ earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.72. National Retail Properties reported earnings per share of $0.65 during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The company is expected to issue its next earnings results on Tuesday, February 11th.

According to Zacks, analysts expect that National Retail Properties will report full year earnings of $2.75 per share for the current fiscal year, with EPS estimates ranging from $2.74 to $2.77. For the next financial year, analysts forecast that the business will post earnings of $2.87 per share, with EPS estimates ranging from $2.85 to $2.89. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow National Retail Properties.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.34). National Retail Properties had a return on equity of 6.93% and a net margin of 38.62%. The business had revenue of $168.61 million for the quarter, compared to analysts’ expectations of $166.93 million. During the same period in the prior year, the business posted $0.67 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year.

A number of equities research analysts have recently commented on NNN shares. Wells Fargo & Co set a $62.00 price objective on shares of National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group started coverage on shares of National Retail Properties in a research note on Thursday, October 10th. They set a “buy” rating and a $75.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of National Retail Properties from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley raised their price objective on shares of National Retail Properties from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. National Retail Properties has an average rating of “Hold” and a consensus price target of $60.29.

NNN traded down $0.23 during trading on Friday, reaching $54.36. 224,171 shares of the company’s stock were exchanged, compared to its average volume of 806,631. National Retail Properties has a 1 year low of $45.45 and a 1 year high of $59.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.39 and a quick ratio of 8.39. The stock has a market capitalization of $9.37 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 6.48 and a beta of 0.06. The company’s fifty day simple moving average is $56.31 and its 200-day simple moving average is $55.05.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.06 dividend on an annualized basis and a yield of 3.79%. National Retail Properties’s dividend payout ratio (DPR) is presently 76.87%.

A number of large investors have recently modified their holdings of NNN. Zimmer Partners LP increased its stake in National Retail Properties by 100.9% during the third quarter. Zimmer Partners LP now owns 2,008,600 shares of the real estate investment trust’s stock worth $113,285,000 after purchasing an additional 1,008,600 shares during the period. State Street Corp grew its position in shares of National Retail Properties by 3.0% during the third quarter. State Street Corp now owns 14,863,122 shares of the real estate investment trust’s stock worth $838,280,000 after buying an additional 438,201 shares in the last quarter. Centersquare Investment Management LLC acquired a new position in shares of National Retail Properties during the second quarter worth about $21,503,000. Millennium Management LLC grew its position in shares of National Retail Properties by 58.9% during the third quarter. Millennium Management LLC now owns 837,122 shares of the real estate investment trust’s stock worth $47,213,000 after buying an additional 310,189 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of National Retail Properties by 28.2% during the second quarter. California Public Employees Retirement System now owns 1,207,088 shares of the real estate investment trust’s stock worth $63,988,000 after buying an additional 265,308 shares in the last quarter. Institutional investors own 89.51% of the company’s stock.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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