B. Riley set a $52.00 target price on National Retail Properties (NYSE:NNN) in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other research firms have also recently issued reports on NNN. Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties from a neutral rating to a buy rating and set a $47.00 target price for the company in a research note on Monday, September 11th. Robert W. Baird reiterated a buy rating and issued a $46.00 target price on shares of National Retail Properties in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of National Retail Properties from a hold rating to a buy rating and set a $47.00 target price for the company in a research note on Wednesday, October 11th. FBR & Co reiterated a buy rating and issued a $52.00 target price on shares of National Retail Properties in a research note on Thursday, September 7th. Finally, UBS AG upgraded shares of National Retail Properties from a sell rating to a neutral rating and boosted their price objective for the stock from $36.00 to $42.00 in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $47.71.
Shares of National Retail Properties (NYSE NNN) opened at $42.54 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 7.66 and a quick ratio of 7.66. The stock has a market cap of $6,430.00, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40. National Retail Properties has a one year low of $36.45 and a one year high of $46.34.
National Retail Properties (NYSE:NNN) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $147.71 million during the quarter, compared to analysts’ expectations of $146.57 million. National Retail Properties had a net margin of 44.96% and a return on equity of 8.47%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. equities research analysts predict that National Retail Properties will post 2.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Monday, October 30th. National Retail Properties’s payout ratio is 155.74%.
In related news, insider Julian E. Whitehurst sold 17,413 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $41.46, for a total transaction of $721,942.98. Following the transaction, the insider now owns 294,826 shares of the company’s stock, valued at $12,223,485.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 817,413 shares of company stock worth $756,943 in the last ninety days. 1.03% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in National Retail Properties by 5.2% during the second quarter. BlackRock Inc. now owns 18,622,086 shares of the real estate investment trust’s stock worth $728,123,000 after acquiring an additional 928,820 shares during the period. State Street Corp increased its position in 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 worth $485,929,000 after acquiring an additional 184,603 shares during the period. Royal Bank of Canada increased its position in National Retail Properties by 6.7% during the second quarter. Royal Bank of Canada now owns 4,030,446 shares of the real estate investment trust’s stock worth $157,592,000 after acquiring an additional 254,477 shares during the period. Victory Capital Management Inc. increased its position in National Retail Properties by 2.9% during the third quarter. Victory Capital Management Inc. now owns 4,025,462 shares of the real estate investment trust’s stock worth $167,700,000 after acquiring an additional 114,800 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in National Retail Properties by 2.6% during the second quarter. Daiwa Securities Group Inc. now owns 3,723,155 shares of the real estate investment trust’s stock worth $145,575,000 after acquiring an additional 95,072 shares during the period. 87.57% of the stock is currently owned by institutional investors and hedge funds.
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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