Zacks Investment Research Upgrades National Retail Properties (NNN) to Buy

National Retail Properties (NYSE:NNN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $47.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.32% from the stock’s current price.

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. “

A number of other research analysts have also weighed in on NNN. BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. FBR & Co restated a “buy” rating and issued a $52.00 target price on shares of National Retail Properties in a report on Thursday, September 7th. Finally, Ladenburg Thalmann Financial Services upgraded National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $48.00.

National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.29). National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The company had revenue of $145.55 million during the quarter, compared to the consensus estimate of $142.83 million. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year.

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In other news, EVP Stephen A. Horn, Jr. sold 10,000 shares of National Retail Properties stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $41.11, for a total value of $411,100.00. Following the completion of the transaction, the executive vice president now directly owns 90,462 shares in the company, valued at $3,718,892.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 2,000 shares of National Retail Properties stock in a transaction on Friday, August 4th. The shares were sold at an average price of $40.28, for a total value of $80,560.00. Following the completion of the transaction, the executive vice president now owns 21,267 shares of the company’s stock, valued at $856,634.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,912 shares of company stock valued at $2,164,138. 1.03% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NNN. Tower Research Capital LLC TRC grew its position in shares of National Retail Properties by 278.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 1,694 shares in the last quarter. IHT Wealth Management LLC grew its position in shares of National Retail Properties by 1.0% in the first quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 28 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of National Retail Properties by 82.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 1,632 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in shares of National Retail Properties in the second quarter valued at $212,000. Finally, Meridian Wealth Management LLC grew its position in shares of National Retail Properties by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 89.37% of the company’s stock.

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.

Analyst Recommendations for National Retail Properties (NYSE:NNN)

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