National Retail Properties (NNN) Cut to Neutral at B. Riley

National Retail Properties (NYSE:NNN) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Wednesday. They presently have a $55.00 target price on the real estate investment trust’s stock, up from their previous target price of $50.00. B. Riley’s price target suggests a potential upside of 5.53% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. ValuEngine upgraded National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Stifel Nicolaus reiterated a “buy” rating on shares of National Retail Properties in a research report on Monday, December 3rd. Zacks Investment Research upgraded National Retail Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. LADENBURG THALM/SH SH lowered National Retail Properties from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Raymond James upgraded National Retail Properties from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $48.83.

Shares of NYSE NNN opened at $52.12 on Wednesday. The company has a market capitalization of $8.46 billion, a P/E ratio of 20.52, a PEG ratio of 4.13 and a beta of 0.31. National Retail Properties has a 52 week low of $36.31 and a 52 week high of $54.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 18.01 and a current ratio of 18.01.

In other National Retail Properties news, insider Paul Eugene Bayer sold 4,509 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $49.58, for a total value of $223,556.22. Following the completion of the transaction, the insider now directly owns 127,621 shares of the company’s stock, valued at $6,327,449.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin B. Habicht sold 3,606 shares of the business’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $50.73, for a total value of $182,932.38. Following the completion of the transaction, the chief financial officer now directly owns 117,581 shares of the company’s stock, valued at $5,964,884.13. The disclosure for this sale can be found here. Insiders sold 8,465 shares of company stock valued at $423,831 over the last three months. 0.78% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in NNN. Cutler Group LP raised its stake in shares of National Retail Properties by 384.4% during the 4th quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 738 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of National Retail Properties during the 4th quarter worth approximately $94,000. Brand Asset Management Group Inc. acquired a new position in shares of National Retail Properties during the 4th quarter worth approximately $107,000. Bessemer Group Inc. raised its stake in shares of National Retail Properties by 200.0% during the 4th quarter. Bessemer Group Inc. now owns 2,250 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,500 shares during the period. Finally, Asset Advisors Investment Management LLC acquired a new position in shares of National Retail Properties during the 3rd quarter worth approximately $112,000. 93.44% of the stock is owned by institutional investors and hedge funds.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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