National Retail Properties, Inc. (NYSE:NNN – Get Rating) has received a consensus recommendation of “Hold” by the ten brokerages that currently cover the company, Marketbeat.com reports. One financial analyst has assigned the stock a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned the company a strong buy rating. The 12-month average target price among brokerages that have covered the stock over the past year is $48.78.
NNN has been the subject of a number of research reports. Raymond James lowered its price target on shares of National Retail Properties from $55.00 to $52.00 and set a “Strong Buy” rating on the stock in a Tuesday, September 6 research report. Morgan Stanley downgraded National Retail Properties shares from an “overweight” rating to an “equal weight” rating and set a price target of $45.00 for the stock. in a report on Tuesday July 12. Credit Suisse Group began covering the shares of National Retail Properties in a report on Wednesday, June 22. They set an “outperform” rating and a price target of $46.00 on the stock. StockNews.com downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a Saturday, August 6 report. Finally, Citigroup raised its price target on shares of National Retail Properties to $47.00 in a Monday, August 15 report.
Insider Activity at National Retail Properties
Separately, CFO Kevin B. Habicht sold 10,520 shares in a trade dated Friday, August 12. The shares were sold at an average price of $48.06, for a total transaction of $505,591.20. Following the completion of the transaction, the CFO now owns 203,717 shares of the company, valued at $9,790,639.02. The transaction was disclosed in a document filed with the SEC, which is available via this link. 0.82% of the shares are held by insiders of the company.
Hedge funds weigh on domestic commercial properties
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. CENTRAL TRUST Co bought a new position in National Retail Properties during the first quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings of National Retail Properties shares by 97.2% in the second quarter. Meeder Asset Management Inc. now owns 627 shares of the real estate investment trust worth $27,000 after buying 309 additional shares in the last quarter. Prospera Financial Services Inc purchased a new stake in National Retail Properties stock in the first quarter worth approximately $30,000. Bogart Wealth LLC increased its holdings of National Retail Properties shares by 183.2% in the first quarter. Bogart Wealth LLC now owns 691 shares of the real estate investment trust worth $31,000 after buying 447 additional shares in the last quarter. Finally, FNY Investment Advisers LLC increased its equity stake in National Retail Properties by 684.3% in the second quarter. FNY Investment Advisers LLC now owns 1,051 shares of the real estate investment trust worth $45,000 after buying 917 additional shares in the last quarter. Institutional investors hold 89.44% of the company’s shares.
National stock of commercial properties down 0.9%
NYSE NNN shares opened at $42.32 on Friday. The company has a market capitalization of $7.50 billion, a P/E ratio of 24.89, a price-to-earnings growth ratio of 3.40 and a beta of 0.85. National Retail Properties has a 52-week low of $39.12 and a 52-week high of $48.90. The company has a debt ratio of 0.97, a quick ratio of 1.51 and a current ratio of 1.51. The company’s 50-day moving average price is $45.85 and its 200-day moving average price is $44.60.
National Retail Properties (NYSE:NNN – Get Rating) last released its results on Wednesday, August 3. The real estate investment trust reported earnings per share (EPS) of $0.81 for the quarter, beating consensus analyst estimates of $0.78 by $0.03. National Retail Properties posted a net margin of 42.21% and a return on equity of 8.09%. The company posted revenue of $190.80 million for the quarter, versus a consensus estimate of $190.68 million. In the same quarter of the previous year, the company achieved EPS of $0.77. National Retail Properties quarterly revenue increased 6.5% from the same quarter last year. Stock analysts expect National Retail Properties to post earnings per share of 3.13 for the current year.
National Retail Properties increases its dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 15. Investors of record on Friday, July 29 received a dividend of $0.55 per share. The ex-dividend date was Thursday, July 28. This represents an annualized dividend of $2.20 and a yield of 5.20%. This is a positive change from National Retail Properties’ previous quarterly dividend of $0.53. National Retail Properties’ dividend payout ratio is currently 129.41%.
National Commercial Properties Company Profile
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National Retail Properties invests primarily in high quality commercial properties generally subject to long-term net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with gross leasable area of approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.
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