National Retail Properties (NYSE:NNN) was down 1.9% during mid-day trading on Friday . The company traded as low as $51.19 and last traded at $51.21, with a volume of 548,330 shares changing hands. The stock had previously closed at $52.19.

A number of equities research analysts have issued reports on NNN shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of National Retail Properties in a report on Monday, May 2nd. Morgan Stanley cut shares of National Retail Properties from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $46.00 to $49.00 in a report on Monday, May 16th. Citigroup Inc. boosted their target price 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. Stifel Nicolaus boosted their target price 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. Finally, Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, July 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.65.

The stock has a 50-day moving average of $51.05 and a 200 day moving average of $46.58. The company has a market capitalization of $7.48 billion and a P/E ratio of 39.01.

National Retail Properties (NYSE:NNN) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company earned $130.92 million during the quarter, compared to analysts’ expectations of $129.73 million. During the same quarter in the prior year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts predict that National Retail Properties will post $2.35 EPS for the current fiscal year.

The business also recently announced 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. This represents a $1.82 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, July 27th. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.44.

In other news, CFO Kevin B. Habicht sold 22,886 shares of National Retail Properties stock in a transaction on Monday, May 16th. The shares were sold at an average price of $46.94, for a total transaction of $1,074,268.84. Following the transaction, the chief financial officer now owns 155,986 shares in the company, valued at approximately $7,321,982.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin B. Habicht sold 18,047 shares of National Retail Properties stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $45.40, for a total transaction of $819,333.80. Following the transaction, the chief financial officer now owns 137,939 shares in the company, valued at approximately $6,262,430.60. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have modified their holdings of NNN. Schroder Investment Management Group acquired a new position in shares of National Retail Properties during the fourth quarter valued at $3,865,000. Employees Retirement System of Texas boosted its position in shares of National Retail Properties by 77.8% in the fourth quarter. Employees Retirement System of Texas now owns 160,000 shares of the real estate investment trust’s stock valued at $6,408,000 after buying an additional 70,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $69,378,000 after buying an additional 54,894 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of National Retail Properties by 4.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,321,805 shares of the real estate investment trust’s stock valued at $52,939,000 after buying an additional 51,295 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in shares of National Retail Properties by 18.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 126,958 shares of the real estate investment trust’s stock valued at $5,085,000 after buying an additional 19,504 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.

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