National Retail Properties (NNN) Lowered to “C+” at TheStreet

National Retail Properties (NYSE:NNN) was downgraded by TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday.

Several other equities analysts have also commented on the company. B. Riley reissued a “buy” rating on shares of National Retail Properties in a research report on Friday, November 3rd. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of National Retail Properties in a research report on Thursday, November 2nd. Robert W. Baird reissued a “buy” rating and set a $46.00 price objective on shares of National Retail Properties in a research report on Friday, October 20th. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, October 11th. Finally, UBS Group raised National Retail Properties from a “sell” rating to a “neutral” rating and raised their price objective for the company from $36.00 to $42.00 in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.67.

Shares of National Retail Properties (NNN) traded up $0.56 during mid-day trading on Wednesday, reaching $37.08. The company had a trading volume of 79,946 shares, compared to its average volume of 965,129. National Retail Properties has a 12 month low of $36.45 and a 12 month high of $46.34. The stock has a market capitalization of $5,700.48, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.95 and a beta of 0.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 7.66 and a quick ratio of 7.66.

In other National Retail Properties news, CFO Kevin B. Habicht sold 20,664 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $42.60, for a total transaction of $880,286.40. Following the completion of the transaction, the chief financial officer now owns 125,722 shares of the company’s stock, valued at $5,355,757.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle Lynn Miller sold 750 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.03, for a total value of $32,272.50. Following the transaction, the executive vice president now directly owns 20,517 shares of the company’s stock, valued at approximately $882,846.51. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Several large investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of National Retail Properties by 1.5% during the second quarter. State Street Corp now owns 12,427,839 shares of the real estate investment trust’s stock valued at $485,929,000 after acquiring an additional 184,603 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of National Retail Properties by 13.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,558,051 shares of the real estate investment trust’s stock valued at $196,589,000 after acquiring an additional 532,589 shares in the last quarter. PGGM Investments increased its holdings in shares of National Retail Properties by 4.9% during the third quarter. PGGM Investments now owns 3,090,029 shares of the real estate investment trust’s stock valued at $128,731,000 after acquiring an additional 143,000 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of National Retail Properties by 9.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,337,330 shares of the real estate investment trust’s stock valued at $100,809,000 after acquiring an additional 193,469 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of National Retail Properties by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,110,348 shares of the real estate investment trust’s stock valued at $87,918,000 after acquiring an additional 41,469 shares in the last quarter. Hedge funds and other institutional investors own 90.10% of the company’s stock.

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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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