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

National Retail Properties (NYSE:NNNGet 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:NNNGet 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.

Read More

Get a free copy of the Zacks research report on National Retail Properties (NNN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for National Retail Properties (NYSE:NNN)

Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.