National Retail Properties (NNN) Sets New 1-Year High at $53.60
National Retail Properties (NYSE:NNN) reached a new 52-week high during trading on Friday . The stock traded as high as $53.60 and last traded at $53.36, with a volume of 991,423 shares changing hands. The stock had previously closed at $52.44.
Several research firms have commented on NNN. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of National Retail Properties in a report on Monday, May 2nd. Citigroup Inc. upped their price objective on shares of National Retail Properties from $40.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Morgan Stanley downgraded shares of National Retail Properties from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $49.00 in a report on Monday, May 16th. Finally, Stifel Nicolaus upped their price objective on shares of National Retail Properties from $50.00 to $54.00 and gave the company a “buy” rating in a report on Monday, July 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. National Retail Properties has an average rating of “Buy” and an average price target of $47.61.
The firm’s 50 day moving average price is $50.23 and its 200 day moving average price is $46.07. The company has a market cap of $7.66 billion and a price-to-earnings ratio of 40.70.
National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business earned $127 million during the quarter, compared to the consensus estimate of $127.43 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. National Retail Properties’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that National Retail Properties will post $2.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.82 annualized dividend and a yield of 3.42%. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.44.
In other National Retail Properties news, CFO Kevin B. Habicht sold 18,047 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $45.40, for a total transaction of $819,333.80. Following the completion of the sale, the chief financial officer now directly owns 137,939 shares in the company, valued at approximately $6,262,430.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Julian E. Whitehurst sold 28,004 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $49.16, for a total value of $1,376,676.64. Following the sale, the chief operating officer now owns 261,812 shares of the company’s stock, valued at $12,870,677.92. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in National Retail Properties by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,732,263 shares of the real estate investment trust’s stock worth $69,378,000 after buying an additional 54,894 shares in the last quarter. Stephens Inc. AR increased its stake in National Retail Properties by 9.9% in the fourth quarter. Stephens Inc. AR now owns 49,036 shares of the real estate investment trust’s stock worth $1,964,000 after buying an additional 4,403 shares in the last quarter. Eaton Vance Management increased its stake in National Retail Properties by 2.5% in the fourth quarter. Eaton Vance Management now owns 421,308 shares of the real estate investment trust’s stock worth $16,873,000 after buying an additional 10,300 shares in the last quarter. Schroder Investment Management Group purchased a new stake in National Retail Properties during the fourth quarter worth about $3,865,000. Finally, Principal Financial Group Inc. increased its stake in National Retail Properties by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 441,537 shares of the real estate investment trust’s stock worth $17,684,000 after buying an additional 17,902 shares in the last quarter.
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 held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.