National Retail Properties (NYSE:NNN) PT Raised to $55.00

National Retail Properties (NYSE:NNN) had its target price hoisted by research analysts at Raymond James from $48.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ target price points to a potential upside of 23.01% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Bank of America upgraded National Retail Properties from an “underperform” rating to a “buy” rating in a report on Tuesday, April 13th. B. Riley increased their price target on National Retail Properties from $49.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 5th. Morgan Stanley upgraded shares of National Retail Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $53.00 in a research note on Wednesday, April 21st. Finally, Zacks Investment Research upgraded shares of National Retail Properties from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 14th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $46.67.

Shares of NNN opened at $44.71 on Tuesday. The firm has a market cap of $7.85 billion, a PE ratio of 36.35 and a beta of 0.74. The firm’s 50 day moving average price is $45.92 and its 200 day moving average price is $41.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 7.03 and a current ratio of 7.03. National Retail Properties has a twelve month low of $25.87 and a twelve month high of $49.00.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, May 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.34). National Retail Properties had a net margin of 35.97% and a return on equity of 6.09%. The business had revenue of $179.80 million for the quarter, compared to the consensus estimate of $167.10 million. During the same period in the previous year, the business posted $0.71 EPS. National Retail Properties’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that National Retail Properties will post 2.62 earnings per share for the current fiscal year.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 30,000 shares of National Retail Properties stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Also, CAO Michelle Lynn Miller sold 6,500 shares of National Retail Properties stock in a transaction on Friday, March 12th. The shares were sold at an average price of $43.33, for a total value of $281,645.00. Following the transaction, the chief accounting officer now directly owns 41,685 shares of the company’s stock, valued at $1,806,211.05. The disclosure for this sale can be found here. Insiders have sold 92,907 shares of company stock worth $4,049,339 in the last quarter. Corporate insiders own 0.77% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Leelyn Smith LLC raised its holdings in shares of National Retail Properties by 7.3% in the first quarter. Leelyn Smith LLC now owns 3,320 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 225 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of National Retail Properties by 46.5% in the first quarter. Fifth Third Bancorp now owns 762 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 242 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of National Retail Properties by 0.5% in the first quarter. Arizona State Retirement System now owns 50,572 shares of the real estate investment trust’s stock valued at $2,229,000 after buying an additional 245 shares during the last quarter. Amalgamated Bank raised its holdings in shares of National Retail Properties by 1.2% in the fourth quarter. Amalgamated Bank now owns 23,025 shares of the real estate investment trust’s stock valued at $942,000 after buying an additional 276 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in shares of National Retail Properties by 2.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,282 shares of the real estate investment trust’s stock valued at $673,000 after buying an additional 294 shares during the last quarter. 89.15% of the stock is owned by institutional investors.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

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Analyst Recommendations for National Retail Properties (NYSE:NNN)

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