National Retail Declares Dividend - Analyst Blog
January 24 2012 - 12:14PM
Zacks
National Retail Properties, Inc. (NNN), a
publicly owned equity real estate investment trust (REIT), has
recently declared a first quarter 2012 dividend of 38.5 cents per
share or $1.54 on an annualized basis. The dividend is payable on
February 15, 2012 to shareholders of record as on January 31,
2012.
The company has been paying uninterrupted annual dividends for
the last 22 years. A steady dividend payout facilitates the
long-term strategy of National Retail to provide attractive
risk-adjusted returns to its stockholders. Furthermore, the company
is one of only 4 publicly traded REITs and 105 publicly traded
companies in the U.S. to have increased annual dividends
consecutively for 22 or more years.
Investors looking for high dividend yields are increasingly
favoring REITs like National Retail. Solid dividend payouts are
arguably the biggest enticement for REIT investors as the U.S. law
requires REITs to distribute 90% of their annual taxable income in
the form of dividends to shareholders.
Earlier, National Retail had reiterated its fiscal 2011 FFO
(funds from operations) guidance at $1.54 to $1.56 per share based
on the solid performance from its operating property portfolio,
strong balance sheet, and accretive effect from property
acquisitions. Funds from operations, a widely used metric to gauge
the performance of REITs, is obtained after adding depreciation and
amortization and other non-cash expenses to net income. For fiscal
2012, National Retail also reaffirmed its FFO guidance of $1.62 to
$1.67 per share.
National Retail invests primarily in high-quality properties
subject to long-term net leases. As of September 30, 2011, the
company owned 1,298 Investment properties in 47 states with a gross
leasable area of approximately 15.3 million square feet.
We maintain our long-term Neutral recommendation on National
Retail, which currently retains a Zacks #2 Rank that translates
into a short-term Buy rating. We also have a Neutral recommendation
and a Zacks #3 Rank (short-term Hold rating) for DDR
Corp. (DDR), one of the competitors of National
Retail.
DDR CORP (DDR): Free Stock Analysis Report
NATL RETAIL PPT (NNN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Developers Realty (NYSE:DDR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Developers Realty (NYSE:DDR)
Historical Stock Chart
From Sep 2023 to Sep 2024