BidaskClub upgraded shares of National Retail Properties (NYSE:NNN) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday morning.
Separately, FBR & Co set a $52.00 price objective on National Retail Properties and gave the company a buy rating in a report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $52.67.
Shares of National Retail Properties (NNN) opened at 38.97 on Wednesday. The firm has a 50 day moving average price of $38.69 and a 200-day moving average price of $42.62. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $53.60. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 30.14 and a beta of 0.41.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.33 by $0.27. National Retail Properties had a return on equity of 8.07% and a net margin of 44.24%. The firm had revenue of $141.43 million during the quarter, compared to analyst estimates of $141.51 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts expect that National Retail Properties will post $1.54 earnings per share for the current fiscal year.
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In related news, insider Julian E. Whitehurst sold 15,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $43.76, for a total value of $656,400.00. Following the completion of the transaction, the insider now owns 271,586 shares in the company, valued at approximately $11,884,603.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.03% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Cadence Capital Management LLC raised its position in shares of National Retail Properties by 129.7% in the fourth quarter. Cadence Capital Management LLC now owns 10,789 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 6,091 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of National Retail Properties during the fourth quarter worth about $245,000. Comerica Bank raised its position in shares of National Retail Properties by 6.1% in the fourth quarter. Comerica Bank now owns 114,374 shares of the real estate investment trust’s stock worth $5,157,000 after buying an additional 6,575 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of National Retail Properties during the fourth quarter worth about $366,000. Finally, Cipher Capital LP purchased a new position in shares of National Retail Properties during the fourth quarter worth about $2,446,000. Institutional investors own 89.20% 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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