National Retail Properties (NYSE:NNN) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of National Retail Properties (NYSE:NNN – Get Rating) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “National Retail Properties, a real estate investment trust, invests in single tenant net-leased retail properties throughout the United States. NNN maintains a conservatively managed, diversified real estate portfolio with properties subject to long-term, net leases with established tenants. Its 2,257 properties are located in 47 states with a total gross leasable area of approximately 25.0 million square feet. Current occupancy is 99.1% and these properties are leased to more than 400 tenants in 38 industry classifications. “

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of National Retail Properties from a buy rating to a hold rating and dropped their price target for the stock from $54.00 to $50.00 in a research note on Monday, January 10th. Bank of America cut National Retail Properties from a buy rating to an underperform rating and cut their price target for the stock from $52.00 to $47.00 in a research note on Thursday, January 20th. B. Riley lowered their price objective on National Retail Properties from $55.00 to $50.00 in a research note on Thursday, February 10th. StockNews.com started coverage on National Retail Properties in a report on Thursday, March 31st. They set a buy rating on the stock. Finally, Raymond James reduced their target price on National Retail Properties from $55.00 to $50.00 and set a strong-buy rating for the company in a research note on Thursday, February 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $49.90.

Shares of NYSE NNN opened at $43.48 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.50 and a quick ratio of 1.50. National Retail Properties has a 1-year low of $40.65 and a 1-year high of $50.33. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.51 and a beta of 0.84. The business has a 50-day moving average of $44.58 and a 200-day moving average of $44.95.

National Retail Properties (NYSE:NNN – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. National Retail Properties had a return on equity of 8.05% and a net margin of 42.73%. The firm had revenue of $190.28 million for the quarter, compared to analyst estimates of $186.63 million. During the same period in the previous year, the company posted $0.76 EPS. National Retail Properties’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts expect that National Retail Properties will post 3.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 29th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Thursday, April 28th. National Retail Properties’s dividend payout ratio is presently 126.95%.

Several large investors have recently modified their holdings of the business. Capital Fund Management S.A. acquired a new position in shares of National Retail Properties in the 3rd quarter valued at about $1,200,000. Janus Henderson Group PLC boosted its stake in National Retail Properties by 31.0% in the third quarter. Janus Henderson Group PLC now owns 1,889,084 shares of the real estate investment trust’s stock valued at $81,599,000 after acquiring an additional 447,035 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of National Retail Properties by 4.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 17,762 shares of the real estate investment trust’s stock valued at $854,000 after purchasing an additional 700 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of National Retail Properties by 2.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,892 shares of the real estate investment trust’s stock worth $1,437,000 after purchasing an additional 584 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of National Retail Properties by 4.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 147,431 shares of the real estate investment trust’s stock worth $7,087,000 after purchasing an additional 6,571 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors.

National Retail Properties Company Profile (Get Rating)

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.

Read More