The FY2016 EPS Estimates for National Retail Properties (NNN) Decreased by Analyst

The FY2016 EPS Estimates for National Retail Properties (NNN) Decreased by Analyst

National Retail Properties (NYSE:NNN) – Investment analysts at Capital One Financial Corp. lowered their FY2016 EPS estimates for National Retail Properties in a research note issued on Tuesday. Capital One Financial Corp. analyst C. Lucas now forecasts that the firm will post earnings per share of $2.34 for the year, down from their prior forecast of $2.36. Capital One Financial Corp. also issued estimates for National Retail Properties’ Q4 2016 earnings at $0.58 EPS, Q1 2017 earnings at $0.60 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.62 EPS, Q4 2017 earnings at $0.63 EPS, FY2017 earnings at $2.47 EPS and FY2018 earnings at $2.62 EPS.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. National Retail Properties had a net margin of 43.41% and a return on equity of 7.88%. The company earned $130.92 million during the quarter, compared to analyst estimates of $129.73 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year.

A number of other brokerages have also weighed in on NNN. Citigroup Inc. raised their price objective on National Retail Properties from $40.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. DA Davidson raised their price objective on National Retail Properties from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Wunderlich raised their price objective on National Retail Properties from $43.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. raised their price objective on National Retail Properties from $51.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. National Retail Properties presently has a consensus rating of “Hold” and an average target price of $50.65.

Shares of National Retail Properties (NYSE:NNN) opened at 46.97 on Thursday. The company has a 50-day moving average of $50.05 and a 200-day moving average of $48.58. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 35.75 and a beta of 0.35. National Retail Properties has a 1-year low of $35.67 and a 1-year high of $53.60.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in National Retail Properties by 7.7% in the first quarter. Geode Capital Management LLC now owns 860,585 shares of the real estate investment trust’s stock valued at $39,759,000 after buying an additional 61,378 shares in the last quarter. Goldman Sachs Group Inc. increased its position in National Retail Properties by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,814,580 shares of the real estate investment trust’s stock valued at $176,234,000 after buying an additional 342,787 shares in the last quarter. Rafferty Asset Management LLC increased its position in National Retail Properties by 56.9% in the first quarter. Rafferty Asset Management LLC now owns 18,619 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 6,750 shares in the last quarter. Kempen Capital Management N.V. increased its position in National Retail Properties by 13.9% in the first quarter. Kempen Capital Management N.V. now owns 62,079 shares of the real estate investment trust’s stock valued at $2,868,000 after buying an additional 7,563 shares in the last quarter. Finally, BB&T Securities LLC increased its position in National Retail Properties by 10.2% in the first quarter. BB&T Securities LLC now owns 21,236 shares of the real estate investment trust’s stock valued at $981,000 after buying an additional 1,965 shares in the last quarter. 94.35% of the stock is owned by institutional investors.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 7,000 shares of National Retail Properties stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $51.33, for a total value of $359,310.00. Following the completion of the transaction, the insider now directly owns 116,202 shares of the company’s stock, valued at approximately $5,964,648.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michelle Lynn Miller sold 1,000 shares of National Retail Properties stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $51.17, for a total value of $51,170.00. Following the completion of the transaction, the executive vice president now directly owns 21,367 shares of the company’s stock, valued at $1,093,349.39. The disclosure for this sale can be found here. Corporate insiders own 1.25% of the company’s stock.

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