LADENBURG THALM/SH SH set a $48.00 target price on National Retail Properties (NYSE:NNN) in a report released on Wednesday. The firm currently has a buy rating on the real estate investment trust’s stock.
NNN has been the topic of a number of other reports. Stifel Nicolaus boosted their price target on shares of National Retail Properties from $46.00 to $47.00 and gave the stock a buy rating in a research report on Friday, September 21st. Wells Fargo & Co set a $50.00 price target on shares of National Retail Properties and gave the stock a buy rating in a research report on Tuesday, September 4th. Citigroup boosted their price target on shares of National Retail Properties from $41.00 to $44.00 and gave the stock a neutral rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of National Retail Properties from a hold rating to a buy rating and set a $49.00 price target on the stock in a research report on Wednesday, July 4th. Finally, Janney Montgomery Scott downgraded shares of National Retail Properties from a buy rating to a neutral rating in a research report on Monday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $46.75.
NYSE:NNN traded up $0.42 during mid-day trading on Wednesday, hitting $43.84. The stock had a trading volume of 5,004 shares, compared to its average volume of 835,282. The company has a market cap of $6.87 billion, a PE ratio of 17.09, a P/E/G ratio of 3.54 and a beta of 0.18. National Retail Properties has a 52 week low of $36.25 and a 52 week high of $46.44. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78.
National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.26). National Retail Properties had a return on equity of 9.50% and a net margin of 50.66%. The company had revenue of $155.50 million for the quarter, compared to the consensus estimate of $154.12 million. During the same quarter last year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. equities analysts anticipate that National Retail Properties will post 2.68 EPS for the current year.
In other news, insider Christopher Paul Tessitore sold 10,000 shares of National Retail Properties stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total value of $459,900.00. Following the transaction, the insider now owns 108,686 shares of the company’s stock, valued at approximately $4,998,469.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julian E. Whitehurst sold 26,130 shares of National Retail Properties stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $46.06, for a total transaction of $1,203,547.80. Following the completion of the transaction, the chief executive officer now directly owns 329,403 shares in the company, valued at approximately $15,172,302.18. The disclosure for this sale can be found here. Insiders sold a total of 54,685 shares of company stock worth $2,511,863 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Preferred LLC grew its stake in shares of National Retail Properties by 119.6% in the 2nd quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 1,346 shares during the last quarter. Asset Advisors Corp purchased a new position in shares of National Retail Properties in the second quarter worth approximately $110,000. Centaurus Financial Inc. purchased a new position in shares of National Retail Properties in the second quarter worth approximately $124,000. Gradient Investments LLC increased its position in shares of National Retail Properties by 7,526.0% in the second quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 3,763 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of National Retail Properties in the second quarter worth approximately $215,000. 90.82% of the stock is currently owned by institutional investors.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.
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