National Retail Properties (NYSE:NNN) had its target price lifted by Stifel Nicolaus from $46.00 to $47.00 in a report issued on Friday, September 21st. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other brokerages have also recently weighed in on NNN. Wells Fargo & Co set a $50.00 price target on National Retail Properties and gave the company a buy rating in a research report on Tuesday, September 4th. Janney Montgomery Scott cut National Retail Properties from a buy rating to a neutral rating in a research report on Monday, August 6th. Citigroup upped their price target on National Retail Properties from $41.00 to $44.00 and gave the company a neutral rating in a research report on Thursday, August 2nd. B. Riley upped their price target on National Retail Properties from $45.00 to $48.00 and gave the company a buy rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised National Retail Properties from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research note on Wednesday, July 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $46.75.
NYSE:NNN traded up $0.02 during trading hours on Friday, reaching $43.26. The company had a trading volume of 1,066,148 shares, compared to its average volume of 1,033,181. National Retail Properties has a one year low of $36.25 and a one year high of $46.44. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 3.63 and a beta of 0.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.57.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.26). National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The company had revenue of $155.50 million during the quarter, compared to the consensus estimate of $154.12 million. During the same quarter last year, the company earned $0.64 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Research analysts expect that National Retail Properties will post 2.68 EPS for the current fiscal year.
In other news, CEO Julian E. Whitehurst sold 26,130 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $46.06, for a total transaction of $1,203,547.80. Following the transaction, the chief executive officer now owns 329,403 shares of the company’s stock, valued at $15,172,302.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Paul Tessitore sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total value of $459,900.00. Following the transaction, the insider now directly owns 108,686 shares in the company, valued at approximately $4,998,469.14. The disclosure for this sale can be found here. In the last three months, insiders sold 54,685 shares of company stock worth $2,511,863. Insiders own 0.78% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of NNN. Advisors Preferred LLC lifted its stake in shares of National Retail Properties by 119.6% during the second quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 1,346 shares during the period. Asset Advisors Corp acquired a new position in shares of National Retail Properties during the second quarter valued at $110,000. Centaurus Financial Inc. acquired a new position in shares of National Retail Properties during the second quarter valued at $124,000. Gradient Investments LLC lifted its stake in shares of National Retail Properties by 7,526.0% during the second quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 3,763 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of National Retail Properties during the second quarter valued at $215,000. 90.84% of the stock is currently owned by institutional investors and hedge funds.
National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.
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