National Retail Properties (NNN) Sets New 12-Month High at $54.89

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National Retail Properties, Inc. (NYSE:NNN) shares hit a new 52-week high on Friday . The company traded as high as $54.89 and last traded at $54.30, with a volume of 243830 shares changing hands. The stock had previously closed at $54.32.

A number of analysts have commented on the stock. LADENBURG THALM/SH SH cut shares of National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, February 11th. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Friday, February 15th. Royal Bank of Canada cut shares of National Retail Properties from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 14th. Stifel Nicolaus reissued a “buy” rating on shares of National Retail Properties in a research note on Monday, December 3rd. Finally, Raymond James raised shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. National Retail Properties currently has an average rating of “Hold” and a consensus target price of $50.33.

The company has a market cap of $8.78 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 4.39 and a beta of 0.27. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.81.

National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.46). The company had revenue of $158.83 million for the quarter, compared to analysts’ expectations of $157.82 million. National Retail Properties had a net margin of 46.97% and a return on equity of 8.63%. On average, analysts predict that National Retail Properties, Inc. will post 2.74 EPS for the current fiscal year.

In other National Retail Properties news, CEO Julian E. Whitehurst sold 34,045 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $52.64, for a total transaction of $1,792,128.80. Following the completion of the transaction, the chief executive officer now owns 384,788 shares in the company, valued at $20,255,240.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin B. Habicht sold 19,641 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $52.08, for a total transaction of $1,022,903.28. Following the transaction, the chief financial officer now owns 136,502 shares of the company’s stock, valued at approximately $7,109,024.16. The disclosure for this sale can be found here. Insiders have sold 89,431 shares of company stock valued at $4,678,142 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in NNN. Oregon Public Employees Retirement Fund lifted its position in National Retail Properties by 5,766.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,965,502 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 6,846,768 shares during the last quarter. Zimmer Partners LP bought a new position in National Retail Properties during the fourth quarter valued at $65,489,000. Norges Bank bought a new position in National Retail Properties during the fourth quarter valued at $61,092,000. BlackRock Inc. lifted its position in National Retail Properties by 5.4% during the fourth quarter. BlackRock Inc. now owns 22,881,640 shares of the real estate investment trust’s stock valued at $1,109,987,000 after purchasing an additional 1,181,727 shares during the last quarter. Finally, Barings LLC lifted its position in National Retail Properties by 220.8% during the fourth quarter. Barings LLC now owns 947,029 shares of the real estate investment trust’s stock valued at $45,940,000 after purchasing an additional 651,830 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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About National Retail Properties (NYSE:NNN)

National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It also acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.

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