National Retail Properties (NNN) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for National Retail Properties (NYSE: NNN):

  • 8/6/2019 – National Retail Properties was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “National Retail Properties, a real estate investment trust, invests in single tenant net-leased retail properties throughout the United States. NNN maintains a conservatively managed, diversified real estate portfolio with properties subject to long-term, net leases with established tenants. Its 2,257 properties are located in 47 states with a total gross leasable area of approximately 25.0 million square feet. Current occupancy is 99.1% and these properties are leased to more than 400 tenants in 38 industry classifications. “
  • 8/1/2019 – National Retail Properties was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/30/2019 – National Retail Properties was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “National Retail Properties, a real estate investment trust, invests in single tenant net-leased retail properties throughout the United States. NNN maintains a conservatively managed, diversified real estate portfolio with properties subject to long-term, net leases with established tenants. Its 2,257 properties are located in 47 states with a total gross leasable area of approximately 25.0 million square feet. Current occupancy is 99.1% and these properties are leased to more than 400 tenants in 38 industry classifications. “
  • 7/26/2019 – National Retail Properties was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “National Retail Properties, a real estate investment trust, invests in single tenant net-leased retail properties throughout the United States. NNN maintains a conservatively managed, diversified real estate portfolio with properties subject to long-term, net leases with established tenants. Its 2,257 properties are located in 47 states with a total gross leasable area of approximately 25.0 million square feet. Current occupancy is 99.1% and these properties are leased to more than 400 tenants in 38 industry classifications. “
  • 7/11/2019 – National Retail Properties had its price target raised by analysts at Morgan Stanley from $53.00 to $54.00. They now have an “equal weight” rating on the stock.
  • 7/4/2019 – National Retail Properties was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “National Retail Properties, a real estate investment trust, invests in single tenant net-leased retail properties throughout the United States. NNN maintains a conservatively managed, diversified real estate portfolio with properties subject to long-term, net leases with established tenants. Its 2,257 properties are located in 47 states with a total gross leasable area of approximately 25.0 million square feet. Current occupancy is 99.1% and these properties are leased to more than 400 tenants in 38 industry classifications. “

NNN stock traded up $0.61 on Wednesday, hitting $54.13. 1,579,200 shares of the company were exchanged, compared to its average volume of 954,363. National Retail Properties, Inc. has a twelve month low of $42.97 and a twelve month high of $55.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83. The company has a fifty day simple moving average of $53.35. The firm has a market cap of $8.86 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 5.61 and a beta of 0.16.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The company had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. During the same period last year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that National Retail Properties, Inc. will post 2.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.515 per share. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.06 annualized dividend and a yield of 3.81%. National Retail Properties’s dividend payout ratio is 76.87%.

In other news, insider Christopher Paul Tessitore sold 2,550 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $25.69, for a total value of $65,509.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle Lynn Miller sold 1,500 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $54.91, for a total transaction of $82,365.00. Following the completion of the sale, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at approximately $1,875,396.14. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in shares of National Retail Properties by 11.8% in the second quarter. Signaturefd LLC now owns 1,830 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 193 shares during the period. Oakbrook Investments LLC boosted its stake in shares of National Retail Properties by 2.3% in the second quarter. Oakbrook Investments LLC now owns 8,900 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 200 shares during the period. 6 Meridian boosted its stake in shares of National Retail Properties by 2.1% in the second quarter. 6 Meridian now owns 9,678 shares of the real estate investment trust’s stock valued at $513,000 after purchasing an additional 202 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of National Retail Properties by 1.5% in the first quarter. Crossmark Global Holdings Inc. now owns 17,339 shares of the real estate investment trust’s stock valued at $960,000 after purchasing an additional 260 shares during the period. Finally, Advisory Services Network LLC boosted its stake in shares of National Retail Properties by 16.9% in the second quarter. Advisory Services Network LLC now owns 1,888 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 273 shares during the period. 90.41% of the stock is owned by institutional investors.

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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