National Retail Properties, Inc. (NYSE:NNN – Get Rating) CFO Kevin B. Habicht sold 10,520 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock sold at an average price of $48.06, for a total transaction of $505,591.20. Following the sale, the chief financial officer now owns 203,717 shares of the company’s stock, valued at $9,790,639.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
National Retail Properties Stock Down 0.0 %
Shares of NYSE NNN traded down $0.01 during midday trading on Monday, hitting $48.11. The company’s stock had a trading volume of 968,127 shares, compared to its average volume of 1,040,956. The business’s fifty day simple moving average is $44.50 and its two-hundred day simple moving average is $44.15. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.51 and a quick ratio of 1.51. National Retail Properties, Inc. has a 1 year low of $39.12 and a 1 year high of $48.90. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.80 and a beta of 0.84.
National Retail Properties (NYSE:NNN – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. National Retail Properties had a net margin of 42.21% and a return on equity of 8.09%. The business had revenue of $190.80 million during the quarter, compared to analyst estimates of $190.68 million. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equity analysts predict that National Retail Properties, Inc. will post 3.13 EPS for the current year.
National Retail Properties Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 28th. This represents a $2.20 dividend on an annualized basis and a yield of 4.57%. This is an increase from National Retail Properties’s previous quarterly dividend of $0.53. National Retail Properties’ payout ratio is currently 129.41%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. lifted its stake in National Retail Properties by 4.4% in the second quarter. Confluence Wealth Services Inc. now owns 12,083 shares of the real estate investment trust’s stock worth $577,000 after acquiring an additional 513 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in National Retail Properties in the second quarter worth approximately $466,000. Cubist Systematic Strategies LLC lifted its stake in National Retail Properties by 499.4% in the second quarter. Cubist Systematic Strategies LLC now owns 37,325 shares of the real estate investment trust’s stock worth $1,605,000 after acquiring an additional 31,098 shares during the last quarter. Point72 Asset Management LP purchased a new position in National Retail Properties in the second quarter worth approximately $18,467,000. Finally, Rush Island Management LP lifted its stake in National Retail Properties by 12.9% in the second quarter. Rush Island Management LP now owns 1,187,931 shares of the real estate investment trust’s stock worth $51,081,000 after acquiring an additional 135,719 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on NNN shares. Morgan Stanley lowered shares of National Retail Properties from an “overweight” rating to an “equal weight” rating and set a $45.00 target price for the company. in a research note on Tuesday, July 12th. Credit Suisse Group started coverage on shares of National Retail Properties in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $46.00 target price for the company. StockNews.com lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Colliers Securities lowered their target price on shares of National Retail Properties to $49.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Finally, Raymond James increased their target price on shares of National Retail Properties from $50.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, National Retail Properties presently has an average rating of “Hold” and a consensus price target of $49.22.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties generally subject 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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