Brokerages Expect National Retail Properties, Inc. (NYSE:NNN) Will Announce Quarterly Sales of $163.79 Million

Equities research analysts expect National Retail Properties, Inc. (NYSE:NNN) to announce $163.79 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for National Retail Properties’ earnings. The lowest sales estimate is $134.20 million and the highest is $175.50 million. National Retail Properties posted sales of $164.60 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 6th.

On average, analysts expect that National Retail Properties will report full year sales of $670.81 million for the current fiscal year, with estimates ranging from $606.24 million to $714.10 million. For the next financial year, analysts forecast that the business will post sales of $700.31 million, with estimates ranging from $642.30 million to $771.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover National Retail Properties.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $174.35 million. National Retail Properties had a return on equity of 7.10% and a net margin of 40.44%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS.

Several brokerages have recently issued reports on NNN. Zacks Investment Research lowered shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Monday, May 4th. TheStreet lowered shares of National Retail Properties from a “b-” rating to a “c+” rating in a report on Wednesday, April 1st. ValuEngine raised shares of National Retail Properties from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Raymond James decreased their price target on shares of National Retail Properties from $62.00 to $44.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Finally, B. Riley decreased their price target on shares of National Retail Properties from $47.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.50.

Shares of NNN stock traded up $0.19 on Monday, hitting $30.89. The stock had a trading volume of 1,485,757 shares, compared to its average volume of 2,088,445. National Retail Properties has a twelve month low of $24.04 and a twelve month high of $59.26. The firm has a market cap of $5.28 billion, a P/E ratio of 21.01, a PEG ratio of 8.11 and a beta of 0.67. The company has a current ratio of 6.00, a quick ratio of 6.00 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average price of $30.67 and a two-hundred day moving average price of $46.75.

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date was Wednesday, April 29th. National Retail Properties’s payout ratio is presently 74.64%.

In other news, CEO Julian E. Whitehurst sold 16,103 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $48.87, for a total transaction of $786,953.61. Following the completion of the transaction, the chief executive officer now directly owns 483,835 shares in the company, valued at approximately $23,645,016.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Eugene Bayer sold 11,835 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $43.00, for a total transaction of $508,905.00. Following the transaction, the insider now owns 116,900 shares of the company’s stock, valued at $5,026,700. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of National Retail Properties by 2.7% during the 1st quarter. State Street Corp now owns 13,775,722 shares of the real estate investment trust’s stock worth $443,440,000 after buying an additional 363,417 shares during the last quarter. FMR LLC boosted its stake in shares of National Retail Properties by 17.8% during the 4th quarter. FMR LLC now owns 8,509,284 shares of the real estate investment trust’s stock worth $456,268,000 after buying an additional 1,283,592 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of National Retail Properties by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 6,179,927 shares of the real estate investment trust’s stock worth $198,932,000 after buying an additional 75,938 shares during the last quarter. Invesco Ltd. raised its holdings in shares of National Retail Properties by 136.0% in the 1st quarter. Invesco Ltd. now owns 4,073,145 shares of the real estate investment trust’s stock valued at $131,115,000 after purchasing an additional 2,347,378 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of National Retail Properties by 24.0% in the 1st quarter. Victory Capital Management Inc. now owns 3,929,636 shares of the real estate investment trust’s stock valued at $126,495,000 after purchasing an additional 760,507 shares during the period. Institutional investors own 90.26% 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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Earnings History and Estimates for National Retail Properties (NYSE:NNN)

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