National Retail Properties, Inc. (NNN) to Issue Quarterly Dividend of $0.46 on May 15th
National Retail Properties, Inc. (NYSE:NNN) announced a quarterly dividend on Thursday, April 13th. Shareholders of record on Friday, April 28th will be given a dividend of 0.455 per share by the real estate investment trust on Monday, May 15th. This represents a $1.82 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, April 26th.
National Retail Properties has increased its dividend by an average of 3.6% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. National Retail Properties has a dividend payout ratio of 73.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect National Retail Properties to earn $1.52 per share next year, which means the company may not be able to cover its $1.82 annual dividend with an expected future payout ratio of 119.7%.
Shares of National Retail Properties (NYSE:NNN) opened at 45.47 on Friday. The firm’s 50-day moving average is $43.98 and its 200-day moving average is $44.22. National Retail Properties has a 12-month low of $39.86 and a 12-month high of $53.60. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 32.95 and a beta of 0.39.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Monday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $141.20 million for the quarter, compared to analysts’ expectations of $137.23 million. National Retail Properties had a net margin of 44.88% and a return on equity of 8.13%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Equities research analysts forecast that National Retail Properties will post $1.39 EPS for the current fiscal year.
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Several analysts recently issued reports on NNN shares. Zacks Investment Research raised shares of National Retail Properties from a “sell” rating to a “hold” rating in a report on Saturday, January 21st. Bank of America Corp raised shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, January 31st. Finally, FBR & Co set a $52.00 price target on shares of National Retail Properties and gave the company a “buy” rating in a report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. National Retail Properties has an average rating of “Hold” and an average price target of $52.30.
In other National Retail Properties news, CEO Craig Macnab sold 54,183 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $45.03, for a total transaction of $2,439,860.49. Following the sale, the chief executive officer now directly owns 422,333 shares of the company’s stock, valued at $19,017,654.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 25,000 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $44.31, for a total transaction of $1,107,750.00. Following the sale, the executive vice president now directly owns 100,462 shares in the company, valued at $4,451,471.22. The disclosure for this sale can be found here. Insiders have sold 152,769 shares of company stock worth $6,791,128 over the last three months. 1.25% of the stock is owned by corporate insiders.
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 primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.
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