National Retail Properties (NNN) Upgraded by Ladenburg Thalmann Financial Services to “Buy”

Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties (NYSE:NNN) from a neutral rating to a buy rating in a research note released on Monday. Ladenburg Thalmann Financial Services currently has $47.00 price target on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of National Retail Properties from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Zacks Investment Research cut shares of National Retail Properties from a buy rating to a hold rating in a research note on Thursday, August 3rd. Finally, FBR & Co restated a buy rating and set a $52.00 target price on shares of National Retail Properties in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $45.86.

National Retail Properties (NYSE:NNN) traded up 0.23% during mid-day trading on Monday, reaching $43.19. 49,893 shares of the company were exchanged. National Retail Properties has a one year low of $36.45 and a one year high of $52.27. The stock has a 50-day moving average price of $40.92 and a 200 day moving average price of $41.07. The company has a market capitalization of $6.45 billion, a PE ratio of 32.45 and a beta of 0.36.

National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.29. The company had revenue of $145.55 million for the quarter, compared to the consensus estimate of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. National Retail Properties’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Analysts predict that National Retail Properties will post $1.45 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.90 annualized dividend and a yield of 4.41%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s dividend payout ratio is currently 142.86%.

In other news, EVP Michelle Lynn Miller sold 2,000 shares of the company’s stock in a transaction dated 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 approximately $856,634.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $41.11, for a total transaction of $411,100.00. Following the sale, the executive vice president now directly owns 90,462 shares of the company’s stock, valued at approximately $3,718,892.82. The disclosure for this sale can be found here. Insiders have sold a total of 52,912 shares of company stock valued at $2,164,138 in the last ninety days. Insiders own 1.03% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC increased its position in shares of National Retail Properties by 0.5% during the 2nd quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 27 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of National Retail Properties by 1.0% during the 1st quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 28 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of National Retail Properties by 0.4% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,731 shares of the real estate investment trust’s stock valued at $1,397,000 after purchasing an additional 144 shares during the last quarter. World Asset Management Inc increased its position in shares of National Retail Properties by 1.7% during the 1st quarter. World Asset Management Inc now owns 11,207 shares of the real estate investment trust’s stock valued at $489,000 after purchasing an additional 184 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of National Retail Properties by 0.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 34,490 shares of the real estate investment trust’s stock valued at $1,504,000 after purchasing an additional 190 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

National Retail Properties Company Profile

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.

Analyst Recommendations for National Retail Properties (NYSE:NNN)

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