Business

Is It Time To Review Stock News? National Retail Properties (NYSE:NNN)

 National Retail Properties (NYSE:NNN) spotted trading 0.89% off 52-week high price. On the other end, the stock has been noted 34.23% away from the low price over the last 52-weeks. The stock changed 1.03% to recent value of $57.68. The stock transacted 785623 shares during most recent day however it has an average volume of 876.55K shares. The company has 162.64M of outstanding shares and 162.22M shares were floated in the market.  

 On Sept. 04, 2019, National Retail Properties (NYSE:NNN) released that it has priced an underwritten public offering of 7,000,000 shares of common stock at a price of $56.50per share. As part of the offering, the Company granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of common stock. The offering is expected to close on September 9, 2019, subject to the satisfaction of customary closing conditions.

BofA Merrill Lynch, Wells Fargo Securities and Morgan Stanley acted as joint book-running managers and representatives of the underwriters for the offering. Citigroup, Jefferies, RBC Capital Markets, Raymond James and Stifel acted as joint book-running managers for the offering. BB&T Capital Markets, BTIG, LLC, Capital One Securities, SunTrust Robinson Humphrey and TD Securities acted as senior co-managers for the offering. Finally, B. Riley FBR, Baird, Janney Montgomery Scott and Ladenburg Thalmann acted as co-managers for the offering.

The Company intends to use the net proceeds from this offering to redeem all of its 11,500,000 outstanding depositary shares, each representing a 1/100th interest in a share of it 5.700% Series E Cumulative Redeemable Preferred Stock, par value $0.01 per share (the Depositary Shares), and the Series E Cumulative Redeemable Preferred Stock underlying the Depositary Shares (the Series E Preferred Stock). This press release does not constitute a notice of redemption of such Depositary Shares or Series E Preferred Stock. In addition, the Company intends to use the remainder of the net proceeds from this offering, if any, to repay outstanding indebtedness under its credit facility, to fund future property acquisitions, and for general corporate purposes.

 Its earnings per share (EPS) expected to touch remained 13.70% for this year while earning per share for the next 5-years is expected to reach at 10.00%. NNN has a gross margin of 95.80% and an operating margin of 54.40% while its profit margin remained 37.70% for the last 12 months. 

The price moved ahead of 4.53% from the mean of 20 days, 6.94% from mean of 50 days SMA and performed 10.03% from mean of 200 days price. Company’s performance for the week was 3.93%, 9.04% for month and YTD performance remained 18.90%.

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