Zacks Investment Research upgraded shares of National Retail Properties (NYSE:NNN) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $47.00 target price on the real estate investment trust’s stock.
According to Zacks, “National Retail Properties, a real estate investment trust, invests in single tenant net-leased retail properties throughout the United States. NNN maintains a conservatively managed, diversified real estate portfolio with properties subject to long-term, net leases with established tenants. Its 2,257 properties are located in 47 states with a total gross leasable area of approximately 25.0 million square feet. Current occupancy is 99.1% and these properties are leased to more than 400 tenants in 38 industry classifications. “
Other research analysts also recently issued reports about the company. Ladenburg Thalmann Financial Services upgraded National Retail Properties from a neutral rating to a buy rating and set a $47.00 price objective for the company in a research note on Monday, September 11th. FBR & Co reiterated a buy rating and set a $52.00 price objective on shares of National Retail Properties in a research note on Thursday, September 7th. Finally, BidaskClub upgraded National Retail Properties from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $48.00.
Shares of National Retail Properties (NYSE NNN) traded up 0.09% during trading on Wednesday, reaching $42.22. 546,473 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $42.02 and a 200 day moving average price of $40.82. National Retail Properties has a 12 month low of $36.45 and a 12 month high of $48.03. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 31.72 and a beta of 0.37.
National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.29). National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The business had revenue of $145.55 million for the quarter, compared to analysts’ expectations of $142.83 million. During the same period in the previous year, the company earned $0.60 EPS. National Retail Properties’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts forecast that National Retail Properties will post $1.45 EPS for the current year.
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In other National Retail Properties news, EVP Stephen A. Horn, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $41.11, for a total value of $411,100.00. Following the completion of the transaction, the executive vice president now directly owns 90,462 shares in the company, valued at approximately $3,718,892.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin B. Habicht sold 23,499 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $40.45, for a total value of $950,534.55. Following the completion of the transaction, the chief financial officer now owns 146,386 shares of the company’s stock, valued at $5,921,313.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,912 shares of company stock valued at $2,164,138. 1.03% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in National Retail Properties by 278.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 1,694 shares during the period. IHT Wealth Management LLC boosted its stake in National Retail Properties by 1.0% in the 1st quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 28 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in National Retail Properties by 82.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 1,632 shares during the period. BB&T Investment Services Inc. bought a new position in National Retail Properties in the 2nd quarter worth approximately $212,000. Finally, Meridian Wealth Management LLC boosted its stake in National Retail Properties by 8.3% in the 1st quarter. Meridian Wealth Management LLC now owns 5,950 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 89.37% of the company’s stock.
National Retail Properties Company Profile
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 primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.
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