National Retail Properties (NNN) Downgraded by Zacks Investment Research

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National Retail Properties (NYSE:NNN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

A number of other research firms have also issued reports on NNN. ValuEngine raised shares of National Retail Properties from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Wells Fargo & Co set a $50.00 target price on shares of National Retail Properties and gave the stock a “buy” rating in a report on Tuesday, September 4th. Janney Montgomery Scott lowered shares of National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Citigroup upped their target price on shares of National Retail Properties from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Finally, B. Riley upped their target price on shares of National Retail Properties from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. National Retail Properties has an average rating of “Hold” and a consensus price target of $46.86.

Shares of NYSE NNN opened at $46.75 on Thursday. The firm has a market capitalization of $7.47 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.85 and a beta of 0.17. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. National Retail Properties has a one year low of $36.25 and a one year high of $48.08.

National Retail Properties (NYSE:NNN) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $155.50 million for the quarter, compared to analysts’ expectations of $154.12 million. During the same period in the previous year, the company earned $0.64 EPS. National Retail Properties’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that National Retail Properties will post 2.68 earnings per share for the current year.

In other news, insider Christopher Paul Tessitore sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total transaction of $459,900.00. Following the transaction, the insider now owns 108,686 shares of the company’s stock, valued at approximately $4,998,469.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michelle Lynn Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.67, for a total transaction of $79,922.50. Following the transaction, the executive vice president now directly owns 29,947 shares in the company, valued at approximately $1,367,679.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,685 shares of company stock worth $2,511,863. Corporate insiders own 1.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OppenheimerFunds Inc. lifted its position in National Retail Properties by 4.1% in the second quarter. OppenheimerFunds Inc. now owns 28,779 shares of the real estate investment trust’s stock valued at $1,265,000 after buying an additional 1,131 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in National Retail Properties by 3.0% in 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 buying an additional 1,200 shares during the last quarter. NumerixS Investment Technologies Inc lifted its position in National Retail Properties by 29.5% in 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 buying an additional 1,299 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in National Retail Properties by 1.1% in 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 buying an additional 1,338 shares during the last quarter. Finally, Advisors Preferred LLC lifted its position in National Retail Properties by 119.6% in the second quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,346 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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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