National Retail Properties (NNN) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

National Retail Properties (NYSE:NNN) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.20), Fidelity Earnings reports. The company had revenue of $155.33 million during the quarter, compared to analyst estimates of $156.04 million. National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share.

National Retail Properties stock traded down $0.18 during midday trading on Friday, reaching $46.88. The company’s stock had a trading volume of 985,759 shares, compared to its average volume of 1,082,976. National Retail Properties has a fifty-two week low of $36.25 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $7.34 billion, a PE ratio of 18.46, a P/E/G ratio of 3.79 and a beta of 0.03.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, October 30th. National Retail Properties’s dividend payout ratio is presently 78.74%.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $45.99, for a total value of $459,900.00. Following the sale, the insider now directly owns 108,686 shares in the company, valued at $4,998,469.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin B. Habicht sold 16,805 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $45.73, for a total value of $768,492.65. Following the completion of the sale, the chief financial officer now owns 121,187 shares in the company, valued at $5,541,881.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,935 shares of company stock worth $2,431,940. 1.03% of the stock is owned by insiders.

Several brokerages have recently issued reports on NNN. ValuEngine upgraded National Retail Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research cut National Retail Properties from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Co set a $50.00 price objective on National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, September 4th. Janney Montgomery Scott cut National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, August 6th. Finally, Citigroup increased their price objective on National Retail Properties from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.86.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

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Earnings History for National Retail Properties (NYSE:NNN)

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