Jefferies Financial Group Weighs in on National Retail Properties, Inc.’s Q1 2023 Earnings (NYSE:NNN)

National Retail Properties, Inc. (NYSE:NNNGet Rating) – Jefferies Financial Group cut their Q1 2023 earnings per share estimates for shares of National Retail Properties in a report issued on Thursday, April 14th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $0.75 for the quarter, down from their previous forecast of $0.76. Jefferies Financial Group has a “Hold” rating and a $50.00 price objective on the stock. Jefferies Financial Group also issued estimates for National Retail Properties’ FY2023 earnings at $3.07 EPS.

Several other equities analysts have also recently commented on NNN. Bank of America cut shares of National Retail Properties from a “buy” rating to an “underperform” rating and lowered their price target for the company from $52.00 to $47.00 in a report on Thursday, January 20th. Raymond James lowered their price target on shares of National Retail Properties from $55.00 to $50.00 and set a “strong-buy” rating on the stock in a report on Thursday, February 10th. B. Riley lowered their price target on shares of National Retail Properties from $55.00 to $50.00 in a report on Thursday, February 10th. Zacks Investment Research cut shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Thursday. Finally, StockNews.com initiated coverage on shares of National Retail Properties in a report on Thursday, March 31st. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, National Retail Properties has an average rating of “Hold” and an average target price of $49.56.

Shares of NYSE:NNN opened at $46.48 on Friday. The company’s fifty day moving average is $43.68 and its two-hundred day moving average is $44.98. The company has a quick ratio of 8.63, a current ratio of 8.63 and a debt-to-equity ratio of 0.96. National Retail Properties has a 12-month low of $40.65 and a 12-month high of $50.33. The company has a market cap of $8.16 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.89.

National Retail Properties (NYSE:NNNGet Rating) last posted its quarterly earnings results on Wednesday, February 9th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.36). National Retail Properties had a net margin of 39.94% and a return on equity of 7.40%. During the same period in the prior year, the firm posted $0.69 earnings per share.

Hedge funds have recently added to or reduced their stakes in the business. Stephens Inc. AR boosted its holdings in National Retail Properties by 2.2% during the third quarter. Stephens Inc. AR now owns 27,227 shares of the real estate investment trust’s stock valued at $1,176,000 after acquiring an additional 581 shares during the period. Capital Fund Management S.A. bought a new stake in National Retail Properties during the third quarter valued at about $1,200,000. Janus Henderson Group PLC boosted its holdings in National Retail Properties by 31.0% during the third quarter. Janus Henderson Group PLC now owns 1,889,084 shares of the real estate investment trust’s stock valued at $81,599,000 after acquiring an additional 447,035 shares during the period. Victory Capital Management Inc. boosted its holdings in National Retail Properties by 27.4% during the third quarter. Victory Capital Management Inc. now owns 6,400,011 shares of the real estate investment trust’s stock valued at $276,416,000 after acquiring an additional 1,377,056 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in National Retail Properties by 4.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 147,431 shares of the real estate investment trust’s stock valued at $7,087,000 after acquiring an additional 6,571 shares during the period. Institutional investors own 86.18% of the company’s stock.

National Retail Properties Company Profile (Get Rating)

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

Further Reading

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

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