National Retail Properties, Inc. (NYSE:NNN) declared a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.50 per share by the real estate investment trust on Wednesday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Monday, April 29th.
National Retail Properties has increased its dividend by an average of 4.5% per year over the last three years and has increased its dividend every year for the last 9 years. National Retail Properties has a payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect National Retail Properties to earn $2.87 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 69.7%.
Shares of National Retail Properties stock opened at $53.16 on Friday. National Retail Properties has a 12-month low of $37.61 and a 12-month high of $55.87. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $8.59 billion, a PE ratio of 19.84, a P/E/G ratio of 4.39 and a beta of 0.27.
NNN has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, February 15th. B. Riley cut shares of National Retail Properties from a “buy” rating to a “neutral” rating and increased their price target for the stock from $50.00 to $55.00 in a research note on Wednesday, February 13th. LADENBURG THALM/SH SH cut shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Finally, Raymond James upgraded shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.33.
In other news, insider Paul Eugene Bayer sold 12,745 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $52.00, for a total value of $662,740.00. Following the completion of the sale, the insider now owns 139,815 shares in the company, valued at approximately $7,270,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Paul Tessitore sold 23,000 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $52.19, for a total transaction of $1,200,370.00. Following the completion of the sale, the insider now owns 111,237 shares of the company’s stock, valued at approximately $5,805,459.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,374 shares of company stock valued at $5,117,732. 0.70% of the stock is owned by company insiders.
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National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2018, the company owned 2,969 properties in 48 states with a gross leasable area of approximately 30.5 million square feet and with a weighted average remaining lease term of 11.5 years.
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