DA Davidson Research Analysts Raise Earnings Estimates for National Retail Properties, Inc. (NNN)

National Retail Properties, Inc. (NYSE:NNN) – Research analysts at DA Davidson raised their Q4 2020 earnings per share (EPS) estimates for National Retail Properties in a research report issued on Thursday, May 2nd, Zacks Investment Research reports. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will earn $0.75 per share for the quarter, up from their prior forecast of $0.74.

National Retail Properties (NYSE:NNN) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.23). National Retail Properties had a return on equity of 7.78% and a net margin of 42.49%. The business had revenue of $163.71 million for the quarter, compared to the consensus estimate of $161.34 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.

A number of other brokerages have also recently commented on NNN. LADENBURG THALM/SH SH cut National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, February 15th. B. Riley downgraded National Retail Properties from a “buy” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $55.00 in a report on Wednesday, February 13th. Finally, Raymond James set a $57.00 price objective on National Retail Properties and gave the company a “hold” rating in a report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.43.

NYSE NNN traded up $0.19 on Monday, hitting $52.59. 594,411 shares of the company’s stock were exchanged, compared to its average volume of 962,797. National Retail Properties has a 52 week low of $40.62 and a 52 week high of $55.87. The stock has a market capitalization of $8.51 billion, a PE ratio of 19.62, a PEG ratio of 4.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.35 and a quick ratio of 2.35.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in National Retail Properties by 1.9% in the 1st quarter. BlackRock Inc. now owns 23,305,276 shares of the real estate investment trust’s stock valued at $1,290,878,000 after acquiring an additional 423,636 shares in the last quarter. Vanguard Group Inc lifted its position in National Retail Properties by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 22,827,899 shares of the real estate investment trust’s stock valued at $1,023,146,000 after acquiring an additional 338,993 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in National Retail Properties by 5,766.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,965,502 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 6,846,768 shares in the last quarter. JPMorgan Chase & Co. lifted its position in National Retail Properties by 33.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,747,192 shares of the real estate investment trust’s stock valued at $318,336,000 after acquiring an additional 1,440,166 shares in the last quarter. Finally, FMR LLC lifted its position in National Retail Properties by 17.6% in the 1st quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after acquiring an additional 581,343 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Kevin B. Habicht sold 19,641 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $52.08, for a total value of $1,022,903.28. Following the completion of the sale, the chief financial officer now directly owns 136,502 shares in the company, valued at approximately $7,109,024.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Eugene Bayer sold 12,745 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $52.00, for a total value of $662,740.00. Following the completion of the sale, the insider now owns 139,815 shares of the company’s stock, valued at $7,270,380. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,228 shares of company stock valued at $4,112,656. Company insiders own 0.70% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, April 29th. This represents a $2.00 dividend on an annualized basis and a yield of 3.80%. National Retail Properties’s payout ratio is currently 74.63%.

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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