Trade Report: Today, National Retail Properties (NNN) Earns Outperform Rating from Analysts at FBR & Co

Today, National Retail Properties (NNN) Earns Outperform Rating from Analysts at FBR & Co

FBR & Co started coverage on shares of National Retail Properties (NYSE:NNN) in a research report released on Wednesday. The firm issued an outperform rating and a $56.00 price objective on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on NNN. DA Davidson boosted their target price on shares of National Retail Properties from $55.00 to $58.00 and gave the company a neutral rating in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of National Retail Properties from a buy rating to a hold rating in a report on Friday, August 5th. Oppenheimer Holdings Inc. boosted their target price on shares of National Retail Properties from $51.00 to $59.00 and gave the company an outperform rating in a report on Wednesday, August 3rd. Citigroup Inc. boosted their target price on shares of National Retail Properties from $40.00 to $51.00 and gave the company a neutral rating in a report on Thursday, July 7th. Finally, Stifel Nicolaus boosted their target price on shares of National Retail Properties from $50.00 to $54.00 and gave the company a buy rating in a report on Monday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. National Retail Properties currently has a consensus rating of Hold and an average target price of $51.95.

Shares of National Retail Properties (NYSE:NNN) opened at 47.26 on Wednesday. The stock has a market cap of $6.95 billion, a P/E ratio of 35.97 and a beta of 0.35. The company’s 50-day moving average is $49.50 and its 200-day moving average is $48.60. National Retail Properties has a 12-month low of $35.67 and a 12-month high of $53.60.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $130.92 million for the quarter, compared to the consensus estimate of $129.73 million. National Retail Properties had a net margin of 43.41% and a return on equity of 7.88%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. On average, equities research analysts anticipate that National Retail Properties will post $2.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, October 27th. National Retail Properties’s dividend payout ratio is currently 137.88%.

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $51.17, for a total transaction of $51,170.00. Following the completion of the sale, the executive vice president now owns 21,367 shares of the company’s stock, valued at approximately $1,093,349.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Paul Tessitore sold 7,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $51.33, for a total transaction of $359,310.00. Following the sale, the insider now directly owns 116,202 shares of the company’s stock, valued at approximately $5,964,648.66. The disclosure for this sale can be found here. Company insiders own 1.25% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA raised its stake in National Retail Properties by 0.6% in the third quarter. Private Trust Co. NA now owns 9,119 shares of the real estate investment trust’s stock valued at $463,000 after buying an additional 51 shares during the last quarter. Tompkins Financial Corp acquired a new stake in National Retail Properties during the third quarter valued at approximately $1,989,000. MSI Financial Services Inc raised its stake in National Retail Properties by 6.6% in the third quarter. MSI Financial Services Inc now owns 5,210 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 324 shares during the last quarter. Hexavest Inc. acquired a new stake in National Retail Properties during the third quarter valued at approximately $114,000. Finally, Creative Planning raised its stake in National Retail Properties by 308.7% in the third quarter. Creative Planning now owns 58,405 shares of the real estate investment trust’s stock valued at $2,970,000 after buying an additional 44,116 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

National Retail Properties Company Profile

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