National Retail Properties, Inc. (NYSE:NNN)‘s stock had its “buy” rating reiterated by Ladenburg Thalmann Financial Services in a note issued to investors on Thursday.
Several other brokerages have also issued reports on NNN. Robert W. Baird reissued a “buy” rating and issued a $46.00 price target on shares of National Retail Properties in a report on Friday, October 20th. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, August 2nd. Finally, FBR & Co reissued a “buy” rating and issued a $52.00 price target on shares of National Retail Properties in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. National Retail Properties has an average rating of “Buy” and an average target price of $47.33.
Shares of National Retail Properties (NNN) traded up $0.57 during mid-day trading on Thursday, reaching $40.81. 1,160,011 shares of the company were exchanged, compared to its average volume of 746,950. National Retail Properties has a fifty-two week low of $36.45 and a fifty-two week high of $46.34. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 3.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.66 and a quick ratio of 1.62.
National Retail Properties (NYSE:NNN) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $147.71 million for the quarter, compared to analyst estimates of $146.57 million. National Retail Properties had a net margin of 44.96% and a return on equity of 8.05%. National Retail Properties’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. equities analysts anticipate that National Retail Properties will post 2.52 EPS for the current fiscal year.
In other news, CFO Kevin B. Habicht sold 23,499 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $40.45, for a total value of $950,534.55. Following the sale, the chief financial officer now owns 146,386 shares in the company, valued at approximately $5,921,313.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $41.11, for a total transaction of $411,100.00. Following the completion of the sale, the executive vice president now owns 90,462 shares in the company, valued at approximately $3,718,892.82. The disclosure for this sale can be found here. Insiders sold a total of 50,912 shares of company stock worth $2,083,578 in the last 90 days. 1.03% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advantus Capital Management Inc lifted its position in National Retail Properties by 19.9% during the 3rd quarter. Advantus Capital Management Inc now owns 342,168 shares of the real estate investment trust’s stock worth $14,255,000 after buying an additional 56,817 shares in the last quarter. Swiss National Bank lifted its position in National Retail Properties by 2.5% during the 3rd quarter. Swiss National Bank now owns 549,800 shares of the real estate investment trust’s stock worth $22,905,000 after buying an additional 13,300 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in National Retail Properties by 25.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 86,007 shares of the real estate investment trust’s stock worth $3,583,000 after buying an additional 17,216 shares in the last quarter. Stevens Capital Management LP acquired a new position in National Retail Properties during the 3rd quarter worth about $782,000. Finally, Forsta AP Fonden lifted its position in National Retail Properties by 38.1% during the 3rd quarter. Forsta AP Fonden now owns 69,600 shares of the real estate investment trust’s stock worth $2,900,000 after buying an additional 19,200 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.
About National Retail Properties
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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