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National Retail Properties, Inc. (NYSE:NNN – Get Rating) announced a quarterly dividend on Friday, April 15, reports The Wall Street Journal. Shareholders of record on Friday, April 29 will receive a dividend of 0.53 per share from the real estate investment trust on Monday, May 16. This represents a dividend of $2.12 on an annualized basis and a dividend yield of 4.56%. The ex-date of this dividend is Thursday, April 28.
National Retail Properties has a payout ratio of 115.2%, which means the company cannot currently cover its dividend with earnings alone and relies on its balance sheet to cover its dividend payments. Analysts expect National Retail Properties to earn $3.09 per share next year, meaning the company should continue to be able to cover its $2.12 annual dividend with a payout ratio. expected future of 68.6%.
Shares of NNN opened at $46.48 on Friday. National Retail Properties has a 12-month low of $40.65 and a 12-month high of $50.33. The stock’s 50-day moving average is $43.75 and its two-hundred-day moving average is $45.00. The company has a market capitalization of $8.16 billion, a PE ratio of 30.78, a P/E/G ratio of 3.98 and a beta of 0.89. The company has a current ratio of 8.63, a quick ratio of 8.63 and a debt ratio of 0.96.
National Retail Properties (NYSE:NNN – Get Rating) last reported quarterly earnings data on Wednesday, February 9. The real estate investment trust reported earnings per share of $0.37 for the quarter, missing the Zacks consensus estimate of $0.73 per ($0.36). National Retail Properties had a net margin of 39.94% and a return on equity of 7.40%. In the same period a year earlier, the company posted earnings per share of $0.69. On average, sell-side analysts expect National Retail Properties to post 3 EPS for the current year.
Several equity research analysts have recently commented on the company. StockNews.com took over coverage of National Retail Properties in a Thursday, March 31 research note. They set a “buy” rating on the stock. On Thursday, Zacks Investment Research downgraded National Retail Properties from a “hold” rating to a “sell” rating. B. Riley reduced his price target on National Retail Properties from $55.00 to $50.00 in a Thursday, February 10, research report. Bank of America downgraded National Retail Properties from a “buy” rating to an “underperform” rating and lowered its price target for the stock from $52.00 to $47.00 in a research report from the Thursday January 20. Finally, Jefferies Financial Group downgraded National Retail Properties from a “buy” rating to a “hold” rating and lowered its target price for the company from $54.00 to $50.00 in a Monday 10 research note. january. Two equity research analysts gave the stock a sell rating, four gave the company a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, National Retail Properties currently has an average rating of “Hold” and an average target price of $49.56.
A number of institutional investors have recently increased or reduced their stake in NNN. Morgan Stanley increased its position in National Retail Properties by 16.0% during the second quarter. Morgan Stanley now owns 943,093 shares of the real estate investment trust worth $44,212,000 after acquiring an additional 130,339 shares during the period. Squarepoint Ops LLC increased its position in National Retail Properties by 19.9% during the fourth quarter. Squarepoint Ops LLC now owns 15,374 shares of the real estate investment trust valued at $739,000 after acquiring an additional 2,552 shares during the period. MML Investors Services LLC acquired a new stake in National Retail Properties during the fourth quarter, valued at approximately $274,000. Metropolitan Life Insurance Co NY increased its position in National Retail Properties by 6.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 42,984 shares of the real estate investment trust valued at $2,066,000 after acquiring an additional 2,723 shares during the period. Finally, Integrated Wealth Concepts LLC increased its position in National Retail Properties shares by 30.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 11,506 shares of the real estate investment trust worth $553,000 after purchasing an additional 2,701 shares during the period. Hedge funds and other institutional investors hold 86.18% of the company’s shares.
About Domestic Commercial Properties (Get an evaluation)
National Retail Properties invests primarily in high quality commercial properties generally subject to long-term net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with gross leasable area of approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.
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