National Retail Properties (NNN) Given Consensus Rating of “Hold” by Brokerages
Shares of National Retail Properties (NYSE:NNN) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $46.00.
A number of equities research analysts have recently commented on the stock. Ladenburg Thalmann Financial Services raised shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Monday, September 11th. FBR & Co reaffirmed a “buy” rating and issued a $52.00 price objective on shares of National Retail Properties in a research note on Thursday, September 7th. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub raised shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th.
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Shares of National Retail Properties (NYSE:NNN) opened at 42.11 on Friday. The firm has a 50-day moving average of $41.42 and a 200 day moving average of $40.98. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 31.64 and a beta of 0.36. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $52.27.
National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.29). National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The business had revenue of $145.55 million for the quarter, compared to the consensus estimate of $142.83 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts expect that National Retail Properties will post $1.45 earnings per share for the current year.
In related news, EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $40.28, for a total transaction of $80,560.00. Following the transaction, the executive vice president now directly owns 21,267 shares of the company’s stock, valued at $856,634.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin B. Habicht sold 23,499 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $40.45, for a total transaction of $950,534.55. Following the transaction, the chief financial officer now directly owns 146,386 shares in the company, valued at $5,921,313.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,912 shares of company stock worth $2,164,138. 1.03% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NNN. BlackRock Inc. boosted its stake in National Retail Properties by 2,977.1% during the first quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock worth $771,779,000 after acquiring an additional 17,118,260 shares in the last quarter. State Street Corp boosted its stake in National Retail Properties by 15.2% during the first quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock worth $534,055,000 after acquiring an additional 1,616,397 shares in the last quarter. FMR LLC boosted its stake in National Retail Properties by 49.2% during the second quarter. FMR LLC now owns 3,152,173 shares of the real estate investment trust’s stock worth $123,249,000 after acquiring an additional 1,039,236 shares in the last quarter. Victory Capital Management Inc. boosted its stake in National Retail Properties by 35.3% during the second quarter. Victory Capital Management Inc. now owns 3,910,662 shares of the real estate investment trust’s stock worth $152,907,000 after acquiring an additional 1,020,200 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in National Retail Properties by 3.0% during the first quarter. Vanguard Group Inc. now owns 23,620,499 shares of the real estate investment trust’s stock worth $1,030,326,000 after acquiring an additional 689,840 shares in the last quarter. 89.36% of the stock is currently owned by institutional investors and hedge funds.
About National Retail Properties
National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.
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