National Retail Properties (NNN) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of National Retail Properties (NYSE:NNN) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

Several other brokerages also recently commented on NNN. Stifel Nicolaus reissued a buy rating and set a $46.00 target price on shares of National Retail Properties in a research note on Wednesday, August 1st. B. Riley boosted their target price on National Retail Properties from $45.00 to $48.00 and gave the stock a buy rating in a research note on Thursday, August 2nd. LADENBURG THALM/SH SH set a $48.00 target price on National Retail Properties and gave the stock a buy rating in a research note on Wednesday, September 26th. Janney Montgomery Scott downgraded National Retail Properties from a buy rating to a neutral rating in a research note on Monday, August 6th. Finally, ValuEngine raised National Retail Properties from a hold rating to a buy rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. National Retail Properties currently has an average rating of Hold and an average target price of $48.00.

NYSE NNN traded up $0.21 during trading on Wednesday, hitting $49.15. 519,405 shares of the company’s stock were exchanged, compared to its average volume of 1,068,440. The company has a current ratio of 18.01, a quick ratio of 18.01 and a debt-to-equity ratio of 0.91. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 3.96 and a beta of 0.03. National Retail Properties has a fifty-two week low of $36.25 and a fifty-two week high of $49.28.

National Retail Properties (NYSE:NNN) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.20). The business had revenue of $155.33 million for the quarter, compared to analyst estimates of $156.04 million. National Retail Properties had a return on equity of 9.91% and a net margin of 53.44%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. On average, sell-side analysts predict that National Retail Properties will post 2.64 earnings per share for the current year.

The company 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. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Tuesday, October 30th. National Retail Properties’s dividend payout ratio is currently 78.74%.

In other news, insider Christopher Paul Tessitore sold 10,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,998,469.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julian E. Whitehurst sold 26,130 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $46.06, for a total value of $1,203,547.80. Following the completion of the transaction, the chief executive officer now directly owns 329,403 shares of the company’s stock, valued at approximately $15,172,302.18. The disclosure for this sale can be found here. Insiders sold 52,935 shares of company stock valued at $2,431,940 in the last ninety days. 1.03% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. boosted its holdings 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 acquiring an additional 1,131 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings 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 acquiring an additional 1,200 shares during the last quarter. NumerixS Investment Technologies Inc boosted its holdings 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 acquiring an additional 1,299 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings 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 acquiring an additional 1,338 shares during the last quarter. Finally, Advisors Preferred LLC boosted its holdings 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 acquiring an additional 1,346 shares during the last quarter. 91.02% of the stock is 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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