B. Riley Analysts Give National Retail Properties (NNN) a $47.00 Price Target

National Retail Properties (NYSE:NNN) received a $47.00 price target from analysts at B. Riley in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s target price points to a potential upside of 25.17% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. UBS Group raised National Retail Properties from a “sell” rating to a “neutral” rating and upped their price target for the stock from $36.00 to $42.00 in a research report on Thursday, November 9th. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Robert W. Baird reaffirmed a “buy” rating and set a $46.00 price target on shares of National Retail Properties in a research report on Friday, October 20th. Ladenburg Thalmann Financial Services set a $47.00 target price on National Retail Properties and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, TheStreet downgraded National Retail Properties from a “b” rating to a “c+” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $46.83.

Shares of National Retail Properties (NNN) traded up $0.06 during mid-day trading on Tuesday, hitting $37.55. The stock had a trading volume of 1,259,913 shares, compared to its average volume of 1,053,906. The firm has a market capitalization of $5,670.07, a P/E ratio of 26.68, a PEG ratio of 2.93 and a beta of 0.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 7.66 and a current ratio of 7.66. National Retail Properties has a 1-year low of $36.25 and a 1-year high of $46.34.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $150.20 million for the quarter, compared to analyst estimates of $148.46 million. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. sell-side analysts forecast that National Retail Properties will post 2.53 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in NNN. BlackRock Inc. grew its position in National Retail Properties by 2,977.1% during the 1st quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock worth $771,779,000 after purchasing an additional 17,118,260 shares during the period. Cohen & Steers Inc. grew its position in National Retail Properties by 34.7% during the 2nd quarter. Cohen & Steers Inc. now owns 14,694,827 shares of the real estate investment trust’s stock worth $974,120,000 after purchasing an additional 3,786,752 shares during the period. Daiwa Securities Group Inc. grew its position in National Retail Properties by 128.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,930,480 shares of the real estate investment trust’s stock worth $197,465,000 after purchasing an additional 2,773,531 shares during the period. State Street Corp grew its position in National Retail Properties by 15.2% during the 1st quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock worth $534,055,000 after purchasing an additional 1,616,397 shares during the period. Finally, Vanguard Group Inc. grew its position in National Retail Properties by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 21,687,375 shares of the real estate investment trust’s stock worth $1,121,672,000 after purchasing an additional 1,426,921 shares during the period. 90.13% of the stock is currently owned by institutional investors.

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National Retail Properties Company Profile

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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