National Retail Properties (NYSE:NNN) dropped 1.7% during mid-day trading on Thursday . The company traded as low as $50.59 and last traded at $50.68, with a volume of 460,734 shares trading hands. The stock had previously closed at $51.55.

NNN has been the subject of a number of recent research reports. DA Davidson boosted their price objective on shares of National Retail Properties from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Morgan Stanley downgraded shares of National Retail Properties from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $49.00 in a research report on Monday, May 16th. Oppenheimer Holdings Inc. boosted their price objective on shares of National Retail Properties from $51.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. boosted their price objective on shares of National Retail Properties from $40.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $50.65.

The company has a market cap of $7.48 billion and a price-to-earnings ratio of 38.72. The company has a 50 day moving average of $51.51 and a 200 day moving average of $46.88.

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. During the same period last year, the business earned $0.56 EPS. The business had revenue of $130.92 million for the quarter, compared to analysts’ expectations of $129.73 million. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts forecast that National Retail Properties will post $2.35 earnings per share for the current year.

The firm 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 dividend of $0.455 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.44. This represents a $1.82 annualized dividend and a dividend yield of 3.58%.

In related news, CEO Craig Macnab sold 15,832 shares of the firm’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $48.40, for a total transaction of $766,268.80. Following the completion of the transaction, the chief executive officer now owns 510,000 shares of the company’s stock, valued at $24,684,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin B. Habicht sold 18,047 shares of the firm’s 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 directly owns 137,939 shares of the company’s stock, 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 the company. BlackRock Advisors LLC boosted its position in shares of National Retail Properties by 2.6% in the fourth quarter. BlackRock Advisors LLC now owns 271,914 shares of the real estate investment trust’s stock valued at $10,890,000 after buying an additional 6,967 shares during the period. Utah Retirement Systems raised its stake in National Retail Properties by 0.7% in the fourth quarter. Utah Retirement Systems now owns 28,981 shares of the real estate investment trust’s stock valued at $1,160,000 after buying an additional 200 shares in the last quarter. Employees Retirement System of Texas raised its stake in 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 raised 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 valued at $69,378,000 after buying an additional 54,894 shares in the last quarter. Finally, Stephens Inc. AR raised 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 valued at $1,964,000 after buying an additional 4,403 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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