National Retail Properties (NYSE:NNN) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of National Retail Properties (NYSE:NNN) from a hold rating to a buy rating in a research note published on Wednesday, August 2nd. Zacks Investment Research currently has $45.00 price objective on the real estate investment trust’s 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. “
Separately, BidaskClub raised shares of National Retail Properties from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. National Retail Properties presently has a consensus rating of Hold and an average target price of $45.67.
Shares of National Retail Properties (NYSE NNN) traded down 1.31% during mid-day trading on Wednesday, reaching $39.92. 716,579 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $39.68 and a 200 day moving average price of $41.50. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $52.27. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 29.99 and a beta of 0.38.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.62 by $0.29. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The business had revenue of $145.55 million during the quarter, compared to analysts’ expectations of $142.83 million. During the same period in the previous year, the company posted $0.60 EPS. National Retail Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts anticipate that National Retail Properties will post $1.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.475 per share. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, July 27th. This represents a $1.90 dividend on an annualized basis and a yield of 4.76%. National Retail Properties’s dividend payout ratio is presently 142.86%.
In related news, EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.28, for a total transaction of $80,560.00. Following the completion of the sale, the executive vice president now owns 21,267 shares of the company’s stock, valued at $856,634.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.03% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in National Retail Properties by 278.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 1,694 shares during the last quarter. IHT Wealth Management LLC boosted its stake in National Retail Properties by 1.0% in the first quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 28 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in National Retail Properties during the first quarter worth approximately $122,000. Northwestern Mutual Wealth Management Co. boosted its stake in National Retail Properties by 82.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 1,632 shares during the last quarter. Finally, Pinnacle Bank purchased a new stake in National Retail Properties during the first quarter worth approximately $179,000. 89.75% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related stocks with our FREE daily email newsletter.