National Retail Properties (NNN) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.60 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.58. The company posted revenue of $130.92 million in the period, compared to analysts expectations of $129.61 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Many Wall Street Analysts have commented on National Retail Properties. Company shares were Reiterated by Stifel on Jul 11, 2016 to “Buy”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .National Retail Properties was Downgraded by Morgan Stanley to ” Equal-Weight” on May 16, 2016.
National Retail Properties opened for trading at $52.55 and hit $53.595 on the upside on Friday, eventually ending the session at $53.16, with a gain of 1.37% or 0.72 points. The heightened volatility saw the trading volume jump to 26,33,860 shares. Company has a market cap of $7,656 M.
In a different news, on Jun 30, 2016, Paul Eugene Bayer (Executive Officer) sold 10,000 shares at $51.10 per share price. According to the SEC, on Jun 29, 2016, Julian E Whitehurst (President and COO) sold 28,004 shares at $49.16 per share price. On Jun 27, 2016, Craig Macnab (Chief Executive Officer) sold 15,832 shares at $48.40 per share price, according to the Form-4 filing with the securities and exchange commission.
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 held for investment. As of December 31 2014 the Company owned 2054 Properties with a gross leasable area of approximately 22479000 square feet located in 47 states. Approximately 99% of the properties were leased as of December 31 2014. The Companys portfolio include convenience stores restaurants automotive service restaurants-limited service theaters family entertainment centers automotive parts and banks among others. It has operations in Texas Florida North Carolina Illinois Georgia Indiana and California among others. As of December 31 2014 The Company owned 29 vacant un-leased Properties which accounted for approximately 1% of total Properties.