UBS AG upgraded shares of National Retail Properties (NYSE:NNN) from a sell rating to a neutral rating in a research report sent to investors on Thursday, 99wallstreet.com reports. They currently have $42.00 price target on the stock, up from their previous price target of $36.00.
A number of other equities research analysts also recently weighed in on NNN. Zacks Investment Research upgraded National Retail Properties from a hold rating to a buy rating and set a $45.00 target price for the company in a research report on Wednesday, August 2nd. FBR & Co restated a buy rating and set a $52.00 target price on shares of National Retail Properties in a research report on Thursday, September 7th. Ladenburg Thalmann Financial Services upgraded National Retail Properties from a neutral rating to a buy rating and set a $47.00 target price for the company in a research report on Monday, September 11th. Robert W. Baird restated a buy rating and set a $46.00 target price on shares of National Retail Properties in a research report on Friday, October 20th. Finally, B. Riley reiterated a buy rating on shares of National Retail Properties in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of C$47.00.
National Retail Properties (NYSE:NNN) traded up C$0.20 during mid-day trading on Thursday, hitting C$42.17. The stock had a trading volume of 901,091 shares, compared to its average volume of 749,125. The company has a market capitalization of $6,412.07, a P/E ratio of 16.73, a P/E/G ratio of 3.46 and a beta of 0.40. National Retail Properties has a 12 month low of C$36.45 and a 12 month high of C$46.34. The company has a current ratio of 7.66, a quick ratio of 7.66 and a debt-to-equity ratio of 0.86.
National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, November 2nd. The company reported C$0.65 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.64 by C$0.01. The company had revenue of C$147.71 million during the quarter, compared to the consensus estimate of C$146.57 million. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. analysts predict that National Retail Properties will post 2.53 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.475 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.90 dividend on an annualized basis and a yield of 4.51%. National Retail Properties’s dividend payout ratio is presently 135.72%.
In related news, CFO Kevin B. Habicht sold 23,499 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of C$40.45, for a total value of C$950,534.55. Following the completion of the sale, the chief financial officer now owns 146,386 shares in the company, valued at C$5,921,313.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julian E. Whitehurst sold 17,413 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of C$41.46, for a total value of C$721,942.98. Following the completion of the sale, the insider now owns 294,826 shares of the company’s stock, valued at approximately C$12,223,485.96. The disclosure for this sale can be found here. Insiders sold 850,912 shares of company stock valued at $2,118,578 in the last quarter. 1.03% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NNN. Teachers Advisors LLC increased its holdings in shares of National Retail Properties by 4.5% in the first quarter. Teachers Advisors LLC now owns 157,850 shares of the company’s stock worth $6,885,000 after acquiring an additional 6,749 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of National Retail Properties by 37.1% in the first quarter. AQR Capital Management LLC now owns 146,495 shares of the company’s stock worth $6,391,000 after acquiring an additional 39,659 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of National Retail Properties in the first quarter worth about $293,000. Xact Kapitalforvaltning AB increased its holdings in shares of National Retail Properties by 8.8% in the second quarter. Xact Kapitalforvaltning AB now owns 20,713 shares of the company’s stock worth $810,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Capstone Asset Management Co. increased its holdings in shares of National Retail Properties by 7.2% in the second quarter. Capstone Asset Management Co. now owns 15,599 shares of the company’s stock worth $610,000 after acquiring an additional 1,050 shares in the last quarter. Institutional investors own 89.56% of the company’s stock.
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.
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