National Retail Properties (NYSE:NNN)‘s stock had its “buy” rating reaffirmed by investment analysts at FBR & Co in a report released on Thursday, September 7th. They presently have a $52.00 target price on the real estate investment trust’s stock. FBR & Co’s price objective would suggest a potential upside of 20.45% from the company’s current price.
The analysts wrote, “NNN priced an underwritten public offering of $400 million of 3.5% senior notes due 2027. The company intends to use the net proceeds to repay all of the outstanding indebtedness under its credit facility, with the remainder going towards property acquisitions and other general purposes. We assume the company will use the proceeds partially to pay down its line of credit as well as pay off its 6.875% unsecured notes in October 2017.””
NNN has been the topic of several other reports. Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, August 2nd. BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. National Retail Properties presently has a consensus rating of “Hold” and a consensus price target of $45.86.
National Retail Properties (NYSE:NNN) traded up 0.86% on Thursday, reaching $43.17. The company had a trading volume of 1,229,071 shares. The stock’s 50-day moving average price is $41.25 and its 200-day moving average price is $41.06. The stock has a market capitalization of $6.44 billion, a P/E ratio of 32.43 and a beta of 0.36. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $52.27.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.29). The business had revenue of $145.55 million during the quarter, compared to analysts’ expectations of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities research analysts anticipate that National Retail Properties will post $1.45 EPS for the current fiscal year.
In other news, EVP Michelle Lynn Miller sold 2,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total value 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 can be accessed through the SEC website. Also, CFO Kevin B. Habicht sold 23,499 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $40.45, for a total value of $950,534.55. Following the completion of the sale, the chief financial officer now directly owns 146,386 shares of the company’s stock, valued at approximately $5,921,313.70. The disclosure for this sale can be found here. Insiders have sold a total of 52,912 shares of company stock worth $2,164,138 in the last ninety days. Insiders own 1.03% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its position in National Retail Properties by 278.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 1,694 shares during the period. IHT Wealth Management LLC lifted its position in 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 worth $119,000 after acquiring an additional 28 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in National Retail Properties during the 1st quarter worth about $122,000. Northwestern Mutual Wealth Management Co. lifted its position in National Retail Properties by 82.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 1,632 shares during the period. Finally, BB&T Investment Services Inc. acquired a new stake in National Retail Properties during the 2nd quarter worth about $212,000. 89.23% of the stock is owned by 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.
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