Brokerages Anticipate National Retail Properties, Inc. (NYSE:NNN) to Announce $0.70 EPS

Wall Street analysts expect that National Retail Properties, Inc. (NYSE:NNN) will report earnings of $0.70 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for National Retail Properties’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.69. National Retail Properties reported earnings of $0.65 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The company is expected to announce its next quarterly earnings report on Tuesday, February 11th.

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

National Retail Properties (NYSE:NNN) last issued 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 net margin of 38.62% and a return on equity of 6.93%. The business had revenue of $168.61 million for the quarter, compared to analysts’ expectations of $166.93 million. During the same period last year, the business earned $0.67 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis.

A number of analysts have weighed in on NNN shares. Morgan Stanley raised their price objective on shares of National Retail Properties from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 17th. Wells Fargo & Co set a $62.00 price objective on shares of National Retail Properties and gave the company 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 for the company. Finally, Stifel Nicolaus raised their price objective on shares of National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. National Retail Properties currently has an average rating of “Hold” and an average target price of $60.29.

Large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of National Retail Properties by 3.0% in 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 acquiring an additional 438,201 shares during the period. JPMorgan Chase & Co. grew its stake in shares of National Retail Properties by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 5,826,166 shares of the real estate investment trust’s stock worth $308,321,000 after acquiring an additional 78,974 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of National Retail Properties by 4.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,325,564 shares of the real estate investment trust’s stock worth $187,562,000 after acquiring an additional 140,654 shares during the period. Northern Trust Corp grew its stake in shares of National Retail Properties by 7.6% in the second quarter. Northern Trust Corp now owns 2,217,110 shares of the real estate investment trust’s stock worth $117,528,000 after acquiring an additional 156,714 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of National Retail Properties by 3.0% in the second quarter. Wells Fargo & Company MN now owns 2,172,247 shares of the real estate investment trust’s stock worth $115,151,000 after acquiring an additional 64,202 shares during the period. Institutional investors and hedge funds own 89.51% of the company’s stock.

NYSE NNN traded down $0.23 during trading hours on Friday, reaching $51.72. 1,253,836 shares of the company’s stock traded hands, compared to its average volume of 784,487. National Retail Properties has a 52-week low of $45.45 and a 52-week high of $59.26. The firm has a market cap of $9.12 billion, a PE ratio of 19.30, a PEG ratio of 6.30 and a beta of 0.06. The firm has a 50-day simple moving average of $55.94 and a 200 day simple moving average of $55.03. 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 company also recently disclosed 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 was Wednesday, October 30th. This represents a $2.06 dividend on an annualized basis and a yield of 3.98%. National Retail Properties’s dividend payout ratio is currently 76.87%.

National Retail Properties Company Profile

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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Earnings History and Estimates for National Retail Properties (NYSE:NNN)

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