Morgan Stanley Boosts National Retail Properties (NYSE:NNN) Price Target to $54.00

National Retail Properties (NYSE:NNN) had its price target hoisted by Morgan Stanley from $53.00 to $54.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other analysts have also commented on the company. Raymond James set a $57.00 price objective on National Retail Properties and gave the company a hold rating in a report on Monday, May 20th. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a hold rating to a sell rating in a report on Thursday, July 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $51.88.

National Retail Properties stock opened at $53.78 on Thursday. The business’s fifty day moving average is $54.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 4.54 and a beta of 0.18. National Retail Properties has a twelve month low of $42.97 and a twelve month high of $55.97.

National Retail Properties (NYSE:NNN) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.23). The company had revenue of $163.71 million for the quarter, compared to analysts’ expectations of $161.34 million. National Retail Properties had a return on equity of 7.78% and a net margin of 42.49%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. Research analysts anticipate that National Retail Properties will post 2.75 earnings per share for the current year.

In other news, EVP Michelle Lynn Miller sold 1,500 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $54.91, for a total transaction of $82,365.00. Following the completion of the sale, the executive vice president now owns 34,154 shares in the company, valued at approximately $1,875,396.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Eugene Bayer sold 37,899 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.44, for a total value of $1,987,423.56. Following the sale, the insider now owns 95,173 shares of the company’s stock, valued at approximately $4,990,872.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,949 shares of company stock valued at $2,135,298. Company insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of National Retail Properties by 33.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,747,192 shares of the real estate investment trust’s stock valued at $318,336,000 after acquiring an additional 1,440,166 shares during the period. Zimmer Partners LP acquired a new position in shares of National Retail Properties in the 4th quarter valued at $65,489,000. Norges Bank acquired a new position in shares of National Retail Properties in the 4th quarter valued at $61,092,000. FMR LLC increased its position in shares of National Retail Properties by 17.6% in the 1st quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after acquiring an additional 581,343 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of National Retail Properties by 2,703.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 601,069 shares of the real estate investment trust’s stock valued at $33,293,000 after acquiring an additional 579,632 shares during the period. Hedge funds and other institutional investors own 89.47% of the company’s stock.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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Analyst Recommendations for National Retail Properties (NYSE:NNN)

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