FY2016 EPS Estimates for National Retail Properties Reduced by Analyst (NNN)
National Retail Properties (NYSE:NNN) – Analysts at Oppenheimer Holdings lowered their FY2016 earnings per share (EPS) estimates for National Retail Properties in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst S. Manaker now forecasts that the brokerage will post earnings per share of $2.32 for the year, down from their previous forecast of $2.35. Oppenheimer Holdings has a “Outperform” rating and a $59.00 price objective on the stock. Oppenheimer Holdings also issued estimates for National Retail Properties’ Q4 2016 earnings at $0.57 EPS, Q1 2017 earnings at $0.60 EPS and Q2 2017 earnings at $0.61 EPS.
Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Wunderlich upped their price objective on shares of National Retail Properties from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. DA Davidson upped their price objective on shares of National Retail Properties from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. FBR & Co initiated coverage on shares of National Retail Properties in a report on Wednesday, October 12th. They set an “outperform” rating and a $56.00 price objective on the stock. Finally, BTIG Research initiated coverage on shares of National Retail Properties in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. National Retail Properties currently has a consensus rating of “Hold” and an average target price of $51.35.
Shares of National Retail Properties (NYSE:NNN) opened at 40.89 on Thursday. National Retail Properties has a one year low of $36.13 and a one year high of $53.60. The company has a market cap of $6.02 billion, a P/E ratio of 32.32 and a beta of 0.45. The company’s 50 day moving average is $47.10 and its 200 day moving average is $48.51.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. National Retail Properties had a net margin of 41.61% and a return on equity of 7.44%. The company earned $134.54 million during the quarter, compared to the consensus estimate of $134.35 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the company. Hexavest Inc. bought a new stake in National Retail Properties during the third quarter worth about $114,000. NEXT Financial Group Inc increased its stake in National Retail Properties by 134.9% in the second quarter. NEXT Financial Group Inc now owns 2,636 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 1,514 shares during the period. Pacad Investment Ltd. bought a new stake in National Retail Properties during the second quarter worth about $155,000. Canada Pension Plan Investment Board increased its stake in National Retail Properties by 6.3% in the first quarter. Canada Pension Plan Investment Board now owns 3,400 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 200 shares during the period. Finally, CIBC World Markets Inc. bought a new stake in National Retail Properties during the third quarter worth about $203,000. Institutional investors and hedge funds own 95.97% of the company’s stock.
In related news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $51.17, for a total transaction of $51,170.00. Following the completion of the sale, the executive vice president now owns 21,367 shares in the company, valued at $1,093,349.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.25% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.82 dividend on an annualized basis and a yield of 4.45%. National Retail Properties’s dividend payout ratio (DPR) is presently 144.45%.
National Retail Properties Company Profile
National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.
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