National Retail Properties (NYSE:NNN) had its target price boosted by Morgan Stanley from $53.00 to $54.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust’s stock.
A number of other research analysts have also weighed in on NNN. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. Raymond James set a $57.00 price target on shares of National Retail Properties and gave the company a hold rating in a research note on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $51.88.
Shares of National Retail Properties stock opened at $53.78 on Thursday. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 4.54 and a beta of 0.18. National Retail Properties has a twelve month low of $42.97 and a twelve month high of $55.97. The company has a 50-day moving average of $54.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.35 and a quick ratio of 2.35.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.23). The company had revenue of $163.71 million during the quarter, compared to analysts’ expectations of $161.34 million. National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. On average, equities analysts anticipate that National Retail Properties will post 2.75 EPS for the current fiscal year.
In other National Retail Properties news, insider Paul Eugene Bayer sold 37,899 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.44, for a total value of $1,987,423.56. Following the transaction, the insider now directly owns 95,173 shares of the company’s stock, valued at approximately $4,990,872.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Paul Tessitore sold 2,550 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total transaction of $65,509.50. The disclosure for this sale can be found here. Insiders sold a total of 41,949 shares of company stock worth $2,135,298 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First National Bank of Mount Dora Trust Investment Services lifted its stake in National Retail Properties by 659.8% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 33,885 shares of the real estate investment trust’s stock worth $1,877,000 after purchasing an additional 29,425 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in National Retail Properties by 26.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 5,662 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 1,200 shares in the last quarter. Macquarie Group Ltd. lifted its stake in National Retail Properties by 3.8% in the 4th quarter. Macquarie Group Ltd. now owns 412,511 shares of the real estate investment trust’s stock worth $20,010,000 after purchasing an additional 15,022 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in National Retail Properties in the 4th quarter worth approximately $1,830,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in National Retail Properties by 1.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 237,360 shares of the real estate investment trust’s stock worth $13,147,000 after purchasing an additional 2,950 shares in the last quarter. 89.47% of the stock is currently owned by institutional investors and hedge funds.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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