National Retail Properties, Inc. (NYSE: NNN – GET Rating) has received a consensus “Hold” rating from ten brokers currently covering the company, reports Marketbeat.com. One investment analyst has rated the stock with a sell rating, three with a hold rating, one with a buy rating and one with a strong buy rating on the company. The average 12-month target price among brokers who covered the stock last year is $48.78.
NNN has been the subject of many research reports. Raymond James cut his target price on shares of National Retail Properties to $52.00 from $55.00 and gave the stock a “strong buy” rating in a research report on Tuesday, September. Morgan Stanley downgraded shares of National Retail Properties from overweight. Set a rating of “Equal Weight” and set a price target of $45.00 for the stock. In a report dated Tuesday, July 12. Credit Suisse Group introduced coverage of shares in National Retail Properties in a report dated Wednesday, June 22. He has 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 report on Saturday, August 6th. Finally, Citigroup raised its target price on shares of National Retail Properties to $47.00 in a report Monday, Aug. 15.
Insider activity at National Retail Properties
In related news, CFO Kevin B. Habitch sold 10,520 shares of the stock in a transaction scheduled for Friday, August 12. The shares were sold at an average price of $48.06 for a total transaction of $505,591.20. Upon completion of the transaction, the Chief Financial Officer now holds 203,717 shares of the Company, valued at $9,790,639.02. The transaction was disclosed in a document filed with the SEC, available at this link. Company insiders hold 0.82% of the shares.
Hedge funds weigh on national retail wealth
Institutional investors and hedge funds have recently increased or decreased their stakes in the company. Central Trust Company acquired a new location in National Retail Properties in the first quarter for approximately $25,000. Meader Asset Management Inc. increased its stake in National Retail Properties to 97.2% in the second quarter. Meader Asset Management Inc. now owns 627 shares of Real Estate Investment Trust stock valued at $27,000 after purchasing an additional 309 shares last quarter. Prospera Financial Services Inc. acquired a new interest in National Retail Properties valued at approximately $30,000 during the first quarter. Bogart Wealth LLC increased its stake in National Retail Properties by 183.2% in the first quarter. Bogart Wealth LLC now owns 691 shares of Real Estate Investment Trust stock valued at $31,000 after purchasing an additional 447 shares last quarter. Finally, FNY Investment Advisors LLC increased its stake in National Retail Properties to 684.3% during the second quarter. FNY Investment Advisors LLC now owns 1,051 shares of the $45,000 Real Estate Investment Trust after purchasing an additional 917 shares last quarter. Institutional investors hold 89.44% of the company’s shares.
National retail stock down 0.9%
NYSE NNN shares opened at $42.32 on Friday. The company has a market cap of $7.50 billion, a P/E of 24.89, a price-to-earnings-to-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 to equity 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 Assets (NYSE: NNN – GET RATINGS) released its earnings results on Wednesday, August. The Real Estate Investment Trust reported earnings per share (EPS) of $0.81 for the quarter, beating analyst consensus estimates of $0.78 by $0.03. National Retail Properties had a net margin of 42.21% and a return on equity of 8.09%. The company had revenue of $190.80 million for the quarter, compared to the consensus estimate of $190.68 million. In the same quarter last year, the company earned $0.77 per share. National Retail Properties’ quarterly sales increased 6.5% compared to the year-ago quarter. Equities analysts expect National Retail Assets to post earnings per share of 3.13 for the current year.
National Retail Assets increases dividend
The company recently announced a quarterly dividend, which was paid on Monday, August 15th. A dividend of $0.55 per share was paid to investors of record on Friday, July 29. The ex-dividend date was Thursday July 28th. That equates to an annual dividend of $2.20 and a yield of 5.20%. This is a positive change from National Retail Properties’ dividend of $0.53 for the most recent quarter. National Retail Properties’ dividend payout ratio currently stands at 129.41%.
National Business Profile for Retail Real Estate
National Retail Properties invests primarily in quality retail properties with long-term net leases. As of September 30, 2020, the Company had 3,114 properties in 48 states totaling approximately 32.4 million square feet and a weighted average lease term of 10.7 years.
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