National Retail Properties (NYSE:NNN) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.71-2.76 for the period. National Retail Properties also updated its FY19 guidance to $2.71-2.81 EPS.
Shares of NYSE NNN traded down $0.68 during mid-day trading on Tuesday, reaching $53.03. The company had a trading volume of 133,885 shares, compared to its average volume of 1,308,272. National Retail Properties has a 12-month low of $36.25 and a 12-month high of $53.76. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 4.13 and a beta of 0.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 18.01 and a quick ratio of 18.01.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, January 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. National Retail Properties’s dividend payout ratio is currently 78.74%.
NNN has been the topic of a number of research reports. LADENBURG THALM/SH SH downgraded National Retail Properties from a buy rating to a neutral rating in a report on Monday. Zacks Investment Research upgraded National Retail Properties from a sell rating to a hold rating in a report on Wednesday, November 7th. Royal Bank of Canada downgraded National Retail Properties from an outperform rating to a sector perform rating in a report on Friday, December 14th. Stifel Nicolaus restated a buy rating on shares of National Retail Properties in a report on Monday, December 3rd. Finally, Raymond James upgraded National Retail Properties from a market perform rating to an outperform rating in a report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. National Retail Properties presently has an average rating of Hold and an average price target of $48.00.
In other National Retail Properties news, insider Paul Eugene Bayer sold 4,509 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $49.58, for a total transaction of $223,556.22. Following the transaction, the insider now owns 127,621 shares in the company, valued at $6,327,449.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin B. Habicht sold 3,606 shares of the stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $50.73, for a total value of $182,932.38. Following the transaction, the chief financial officer now owns 117,581 shares in the company, valued at approximately $5,964,884.13. The disclosure for this sale can be found here. Insiders sold 13,465 shares of company stock worth $667,681 in the last 90 days. 0.78% of the stock is currently owned by corporate insiders.
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About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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