Today, National Retail Properties (NNN) Upgrade to “Outperform” by Robert W. Baird

Today, National Retail Properties (NNN) Upgrade to “Outperform” by Robert W. Baird

Robert W. Baird upgraded shares of National Retail Properties (NYSE:NNN) from a neutral rating to an outperform rating in a research note published on Monday morning. The firm currently has $50.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $54.00.

A number of other research analysts have also issued reports on the company. DA Davidson reaffirmed a hold rating on shares of National Retail Properties in a report on Friday, November 11th. Wunderlich lowered their target price on National Retail Properties from $50.00 to $44.00 and set a hold rating on the stock in a report on Friday, November 4th. FBR & Co began coverage on National Retail Properties in a report on Wednesday, October 12th. They set an outperform rating and a $56.00 target price on the stock. BTIG Research began coverage on National Retail Properties in a report on Thursday, August 25th. They set a neutral rating on the stock. Finally, Zacks Investment Research lowered National Retail Properties from a buy rating to a hold rating in a report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $52.20.

National Retail Properties (NYSE:NNN) opened at 41.99 on Monday. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 33.19 and a beta of 0.45. The stock’s 50 day moving average is $44.76 and its 200 day moving average is $48.31. National Retail Properties has a one year low of $37.31 and a one year high of $53.60.

National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $134.54 million for the quarter, compared to analyst estimates of $134.35 million. National Retail Properties had a return on equity of 7.44% and a net margin of 41.61%. National Retail Properties’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share. On average, equities analysts forecast that National Retail Properties will post $2.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were paid a dividend of $0.455 per share. The ex-dividend date was Thursday, October 27th. This represents a $1.82 annualized dividend and a yield of 4.33%. National Retail Properties’s dividend payout ratio (DPR) is presently 144.45%.

A number of institutional investors have recently added to or reduced their stakes in NNN. Legal & General Group Plc boosted its position in National Retail Properties by 5.1% in the first quarter. Legal & General Group Plc now owns 301,787 shares of the real estate investment trust’s stock valued at $13,943,000 after buying an additional 14,704 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of National Retail Properties by 6.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 135,313 shares of the real estate investment trust’s stock valued at $6,251,000 after buying an additional 8,220 shares in the last quarter. Arizona State Retirement System raised its stake in shares of National Retail Properties by 7.3% in the first quarter. Arizona State Retirement System now owns 72,079 shares of the real estate investment trust’s stock valued at $3,330,000 after buying an additional 4,900 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of National Retail Properties by 184.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,583 shares of the real estate investment trust’s stock valued at $1,182,000 after buying an additional 16,582 shares in the last quarter. Finally, Avalon Advisors LLC raised its stake in shares of National Retail Properties by 1.8% in the first quarter. Avalon Advisors LLC now owns 334,151 shares of the real estate investment trust’s stock valued at $15,438,000 after buying an additional 6,065 shares in the last quarter. 95.34% of the stock is currently 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 held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.

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