Zacks: Analysts Expect National Retail Properties, Inc. (NYSE:NNN) Will Announce Quarterly Sales of $187.26 Million

Equities research analysts predict that National Retail Properties, Inc. (NYSE:NNNGet Rating) will announce sales of $187.26 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for National Retail Properties’ earnings. The lowest sales estimate is $185.70 million and the highest is $190.29 million. National Retail Properties posted sales of $178.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that National Retail Properties will report full-year sales of $759.20 million for the current fiscal year, with estimates ranging from $748.18 million to $773.65 million. For the next financial year, analysts forecast that the business will post sales of $795.32 million, with estimates ranging from $756.11 million to $824.75 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for National Retail Properties.

National Retail Properties (NYSE:NNNGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. National Retail Properties had a return on equity of 7.40% and a net margin of 39.94%. The company had revenue of $190.28 million for the quarter, compared to analyst estimates of $186.63 million. During the same quarter last year, the company posted $0.76 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year.

A number of brokerages have issued reports on NNN. Stifel Nicolaus dropped their target price on shares of National Retail Properties from $56.00 to $53.00 in a report on Tuesday. Raymond James dropped their price objective on shares of National Retail Properties from $55.00 to $50.00 and set a “strong-buy” rating for the company in a research note on Thursday, February 10th. Jefferies Financial Group cut shares of National Retail Properties from a “buy” rating to a “hold” rating and lowered their target price for the stock from $54.00 to $50.00 in a research note on Monday, January 10th. Zacks Investment Research upgraded shares of National Retail Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, B. Riley reduced their target price on shares of National Retail Properties from $55.00 to $50.00 in a report on Thursday, February 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, National Retail Properties presently has an average rating of “Hold” and a consensus target price of $49.90.

Several large investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. raised its holdings in shares of National Retail Properties by 23.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 324,140 shares of the real estate investment trust’s stock valued at $17,955,000 after acquiring an additional 61,130 shares during the period. Morgan Stanley increased its stake in shares of National Retail Properties by 16.0% during the 2nd quarter. Morgan Stanley now owns 943,093 shares of the real estate investment trust’s stock worth $44,212,000 after purchasing an additional 130,339 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of National Retail Properties by 193.6% during the 3rd quarter. Deutsche Bank AG now owns 225,917 shares of the real estate investment trust’s stock worth $9,756,000 after buying an additional 148,960 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of National Retail Properties by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,449 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 751 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of National Retail Properties by 0.9% during the 3rd quarter. Advisor Group Holdings Inc. now owns 155,647 shares of the real estate investment trust’s stock worth $6,735,000 after buying an additional 1,327 shares during the period. 88.31% of the stock is owned by institutional investors.

Shares of NYSE:NNN opened at $44.24 on Friday. The company has a quick ratio of 8.63, a current ratio of 8.63 and a debt-to-equity ratio of 0.96. The company has a market cap of $7.77 billion, a P/E ratio of 26.49, a PEG ratio of 3.67 and a beta of 0.84. National Retail Properties has a 52 week low of $40.65 and a 52 week high of $50.33. The company has a 50-day moving average price of $44.61 and a 200 day moving average price of $45.08.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 29th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Thursday, April 28th. National Retail Properties’s payout ratio is 126.95%.

About National Retail Properties (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.

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