National Retail Properties (NYSE:NNN) Raised to Hold at Zacks Investment Research

National Retail Properties (NYSE:NNN – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, 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. “

NNN has been the subject of several other reports. B. Riley decreased their price objective on shares of National Retail Properties from $55.00 to $50.00 in a report on Thursday, February 10th. Raymond James decreased their price objective on shares of National Retail Properties from $55.00 to $50.00 and set a “strong-buy” rating for the company in a report on Thursday, February 10th. Bank of America lowered shares of National Retail Properties from a “buy” rating to an “underperform” rating and decreased their price target for the company from $52.00 to $47.00 in a report on Thursday, January 20th. Jefferies Financial Group lowered shares of National Retail Properties from a “buy” rating to a “hold” rating and decreased their price target for the company from $54.00 to $50.00 in a report on Monday, January 10th. Finally, StockNews.com started coverage on shares of National Retail Properties in a report on Thursday, March 31st. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, National Retail Properties has an average rating of “Hold” and a consensus price target of $49.56.

National Retail Properties stock opened at $47.69 on Wednesday. National Retail Properties has a 12-month low of $40.65 and a 12-month high of $50.33. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 3.98 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.63 and a quick ratio of 8.63. The firm’s fifty day moving average price is $43.91 and its 200 day moving average price is $45.05.

National Retail Properties (NYSE:NNN – Get Rating) last announced its quarterly earnings data on Wednesday, February 9th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.36). National Retail Properties had a return on equity of 7.40% and a net margin of 39.94%. During the same quarter last year, the business earned $0.69 EPS. Analysts forecast that National Retail Properties will post 3 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of NNN. State Street Corp lifted its position in National Retail Properties by 12.5% in the 4th quarter. State Street Corp now owns 18,330,427 shares of the real estate investment trust’s stock valued at $881,144,000 after purchasing an additional 2,037,833 shares during the last quarter. Norges Bank bought a new stake in National Retail Properties in the 4th quarter valued at about $79,208,000. Victory Capital Management Inc. lifted its position in National Retail Properties by 27.4% in the 3rd quarter. Victory Capital Management Inc. now owns 6,400,011 shares of the real estate investment trust’s stock valued at $276,416,000 after purchasing an additional 1,377,056 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in National Retail Properties by 203.5% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,767,842 shares of the real estate investment trust’s stock valued at $76,353,000 after purchasing an additional 1,185,385 shares during the last quarter. Finally, BlackRock Inc. lifted its position in National Retail Properties by 4.9% in the 4th quarter. BlackRock Inc. now owns 20,113,625 shares of the real estate investment trust’s stock valued at $966,862,000 after purchasing an additional 935,569 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

About National Retail Properties (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.

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