National Retail Properties (NYSE:NNN) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, January 8th, Marketbeat Ratings reports.
NNN has been the subject of several other research reports. Stifel Nicolaus increased their price target on National Retail Properties from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. B. Riley raised their target price on National Retail Properties from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 5th. ValuEngine upgraded National Retail Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. LADENBURG THALM/SH SH set a $48.00 target price on National Retail Properties and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, Royal Bank of Canada downgraded National Retail Properties from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $48.00.
NYSE:NNN traded up $0.03 during trading on Tuesday, reaching $52.13. The company’s stock had a trading volume of 899,430 shares, compared to its average volume of 1,190,725. The company has a market capitalization of $8.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.99 and a beta of 0.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 18.01 and a quick ratio of 18.01. National Retail Properties has a 12 month low of $36.25 and a 12 month high of $52.28.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.20). The firm had revenue of $155.33 million for the quarter, compared to the consensus estimate of $156.04 million. National Retail Properties had a return on equity of 9.91% and a net margin of 53.44%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts anticipate that National Retail Properties will post 2.65 earnings per share for the current year.
In related news, EVP Stephen A. Horn, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $49.15, for a total transaction of $307,187.50. Following the transaction, the executive vice president now directly owns 88,183 shares of the company’s stock, valued at approximately $4,334,194.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin B. Habicht sold 3,606 shares of the firm’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $50.73, for a total value of $182,932.38. Following the transaction, the chief financial officer now directly owns 117,581 shares in the company, valued at $5,964,884.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,715 shares of company stock worth $974,869. Insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its stake in National Retail Properties by 4.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 124,552 shares of the real estate investment trust’s stock worth $5,476,000 after purchasing an additional 4,825 shares during the period. Van ECK Associates Corp purchased a new position in National Retail Properties in the 2nd quarter worth approximately $1,423,000. OppenheimerFunds Inc. increased its stake in National Retail Properties by 4.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 28,779 shares of the real estate investment trust’s stock worth $1,265,000 after purchasing an additional 1,131 shares during the period. Flinton Capital Management LLC increased its stake in National Retail Properties by 11.1% in the 2nd quarter. Flinton Capital Management LLC now owns 23,392 shares of the real estate investment trust’s stock worth $1,028,000 after purchasing an additional 2,346 shares during the period. Finally, BB&T Securities LLC increased its stake in National Retail Properties by 4.2% in the 2nd quarter. BB&T Securities LLC now owns 65,643 shares of the real estate investment trust’s stock worth $2,885,000 after purchasing an additional 2,625 shares during the period. 91.14% of the stock is currently owned by institutional investors.
National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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