National Retail Properties (NNN) Earns “Buy” Rating from Ladenburg Thalmann Financial Services
National Retail Properties (NYSE:NNN)‘s stock had its “buy” rating reaffirmed by equities researchers at Ladenburg Thalmann Financial Services in a research report issued on Thursday.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Robert W. Baird reissued a “buy” rating and issued a $46.00 target price on shares of National Retail Properties in a report on Friday, October 20th. Finally, FBR & Co reissued a “buy” rating and issued a $52.00 target price on shares of National Retail Properties in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $47.33.
National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The business had revenue of $147.71 million for the quarter, compared to the consensus estimate of $146.57 million. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year.
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In other news, insider Julian E. Whitehurst sold 17,413 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $41.46, for a total value of $721,942.98. Following the completion of the transaction, the insider now owns 294,826 shares in the company, valued at $12,223,485.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle Lynn Miller sold 2,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total value of $80,560.00. Following the completion of the transaction, the executive vice president now owns 21,267 shares of the company’s stock, valued at approximately $856,634.76. The disclosure for this sale can be found here. Insiders sold 52,912 shares of company stock valued at $2,164,138 in the last 90 days. Company insiders own 1.03% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of National Retail Properties by 82.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 1,632 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in shares of National Retail Properties in the second quarter worth $212,000. Raymond James Trust N.A. purchased a new position in shares of National Retail Properties in the third quarter worth $231,000. Meridian Wealth Management LLC raised its stake in shares of National Retail Properties by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 27 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of National Retail Properties in the second quarter worth $254,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.
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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