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

Zacks Investment Research upgraded shares of National Retail Properties (NYSE:NNNGet Rating) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, 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 topic of several other research reports. StockNews.com assumed coverage on National Retail Properties in a research note on Thursday, March 31st. They set a buy rating on the stock. Stifel Nicolaus cut their price objective on National Retail Properties from $56.00 to $53.00 in a report on Tuesday, May 3rd. Raymond James lowered 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. B. Riley cut their price target on shares of National Retail Properties from $55.00 to $50.00 in a research note on Thursday, February 10th. Finally, Bank of America cut shares of National Retail Properties from a buy rating to an underperform rating and reduced their price target for the company from $52.00 to $47.00 in a report on Thursday, January 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $49.90.

Shares of NNN stock opened at $43.48 on Tuesday. The stock has a market cap of $7.65 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.51 and a beta of 0.84. The stock has a 50-day moving average of $44.58 and a 200-day moving average of $44.95. 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 one year low of $40.65 and a one year high of $50.33.

National Retail Properties (NYSE:NNNGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $190.28 million during the quarter, compared to analysts’ expectations of $186.63 million. National Retail Properties had a net margin of 42.73% and a return on equity of 8.05%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. As a group, research analysts anticipate that National Retail Properties will post 3.07 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CENTRAL TRUST Co bought a new position in National Retail Properties in the first quarter valued at $25,000. National Bank of Canada FI bought a new position in shares of National Retail Properties in the 4th quarter valued at about $27,000. Prospera Financial Services Inc acquired a new stake in shares of National Retail Properties in the first quarter valued at about $30,000. Covestor Ltd bought a new stake in National Retail Properties during the fourth quarter worth about $33,000. Finally, Bogart Wealth LLC raised its holdings in National Retail Properties by 183.2% during the first quarter. Bogart Wealth LLC now owns 691 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds own 88.31% 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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