National Retail Properties (NYSE:NNN) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.
Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised their target price on National Retail Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Tuesday. Finally, Raymond James set a $57.00 price target on National Retail Properties and gave the company a “hold” rating in a report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. National Retail Properties currently has a consensus rating of “Hold” and an average price target of $53.00.
NNN stock traded up $0.77 during mid-day trading on Thursday, reaching $53.17. The company had a trading volume of 916,407 shares, compared to its average volume of 923,376. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $8.50 billion, a PE ratio of 19.84, a P/E/G ratio of 5.50 and a beta of 0.16. National Retail Properties has a one year low of $42.97 and a one year high of $55.97. The business has a 50-day moving average price of $53.52.
National Retail Properties (NYSE:NNN) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). The company had revenue of $164.80 million during the quarter, compared to the consensus estimate of $163.73 million. National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. As a group, research analysts predict that National Retail Properties will post 2.74 earnings per share for the current fiscal year.
In other news, EVP Michelle Lynn Miller sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $54.91, for a total transaction of $82,365.00. Following the transaction, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at $1,875,396.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Eugene Bayer sold 37,899 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.44, for a total value of $1,987,423.56. Following the transaction, the insider now directly owns 95,173 shares in the company, valued at $4,990,872.12. The disclosure for this sale can be found here. Insiders have sold 41,949 shares of company stock worth $2,135,298 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. grew its holdings in National Retail Properties by 170.8% during the first quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 292 shares during the period. JJJ Advisors Inc. acquired a new position in National Retail Properties during the second quarter worth about $31,000. Pearl River Capital LLC acquired a new position in National Retail Properties during the first quarter worth about $34,000. Cascade Investment Advisors Inc. acquired a new position in National Retail Properties during the second quarter worth about $32,000. Finally, Next Capital Management LLC acquired a new position in National Retail Properties during the first quarter worth about $51,000. 88.88% of the stock is currently owned by institutional investors.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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