National Retail Properties, Inc. (NNN) Receives $46.86 Average PT from Brokerages

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National Retail Properties, Inc. (NYSE:NNN) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $46.50.

A number of analysts have weighed in on the company. Stifel Nicolaus boosted their price target on National Retail Properties from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Wells Fargo & Co set a $50.00 price target on National Retail Properties and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Citigroup boosted their price target on National Retail Properties from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, July 4th. Finally, ValuEngine raised National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th.

In other news, CEO Julian E. Whitehurst sold 26,130 shares of National Retail Properties stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $46.06, for a total value of $1,203,547.80. Following the transaction, the chief executive officer now directly owns 329,403 shares in the company, valued at $15,172,302.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Paul Tessitore sold 10,000 shares of National Retail Properties stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $45.99, for a total value of $459,900.00. Following the completion of the transaction, the insider now owns 108,686 shares in the company, valued at $4,998,469.14. The disclosure for this sale can be found here. Insiders sold 54,685 shares of company stock worth $2,511,863 over the last quarter. 1.03% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. OppenheimerFunds Inc. increased its stake in National Retail Properties by 4.1% during the second quarter. OppenheimerFunds Inc. now owns 28,779 shares of the real estate investment trust’s stock valued at $1,265,000 after acquiring an additional 1,131 shares during the period. Louisiana State Employees Retirement System increased its stake in National Retail Properties by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 41,600 shares of the real estate investment trust’s stock valued at $1,829,000 after acquiring an additional 1,200 shares during the period. NumerixS Investment Technologies Inc increased its stake in National Retail Properties by 29.5% during the second quarter. NumerixS Investment Technologies Inc now owns 5,700 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 1,299 shares during the period. Oregon Public Employees Retirement Fund increased its stake in National Retail Properties by 1.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 118,734 shares of the real estate investment trust’s stock valued at $5,322,000 after acquiring an additional 1,338 shares during the period. Finally, Advisors Preferred LLC increased its stake in 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. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Shares of NYSE:NNN traded down $0.13 on Monday, reaching $46.62. The company had a trading volume of 270,125 shares, compared to its average volume of 1,075,592. National Retail Properties has a twelve month low of $36.25 and a twelve month high of $48.08. The stock has a market capitalization of $7.47 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.85 and a beta of 0.17. 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 return on equity of 9.50% and a net margin of 50.66%. The company had revenue of $155.50 million during the quarter, compared to analyst estimates of $154.12 million. During the same period in the prior year, the firm earned $0.64 EPS. National Retail Properties’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that National Retail Properties will post 2.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. National Retail Properties’s payout ratio is presently 78.74%.

About National Retail Properties

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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Analyst Recommendations for National Retail Properties (NYSE:NNN)

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