National Retail Properties (NYSE:NNN) raised to “buy” on StockNews.com
NNN has been the subject of several other reports. Morgan Stanley downgraded National Retail Properties from an “overweight” rating to an “equally weighted” rating and set a price target of $45.00 for the company. in a research note from Tuesday, July 12. Raymond James raised his price target on National Retail Properties from $50.00 to $55.00 and gave the stock a “Strong Buy” rating in a Friday, July 8 research note. Stifel Nicolaus lowered his price target on National Retail Properties from $56.00 to $53.00 in a Tuesday May 3 research note. Colliers Securities lowered its price target on National Retail Properties to $49.00 and set an “na” rating for the company in a Wednesday, May 18 research note. Finally, Credit Suisse Group began covering National Retail Properties in a report on Wednesday June 22. They set an “outperform” rating and a price target of $46.00 for the stock. One equity research analyst has assigned the stock a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned the stock a strong buy rating. society. According to data from MarketBeat.com, National Retail Properties currently has an average rating of “Hold” and an average target price of $49.22.
Domestic commercial properties are trading up 1.1%
Shares of NYSE: NNN opened at $47.61 on Friday. The stock has a 50-day moving average of $43.80 and a 200-day moving average of $44.01. The company has a market capitalization of $8.38 billion, a PE ratio of 28.51, a growth price-earnings ratio of 3.68 and a beta of 0.81. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt ratio of 0.96. National Retail Properties has a 12-month low of $39.12 and a 12-month high of $49.94.
Domestic Commercial Properties (NYSE: NNN – Get a rating) last reported quarterly earnings data on Tuesday, May 3. The real estate investment trust reported earnings per share (EPS) of $0.46 for the quarter, beating consensus analyst estimates of $0.43 by $0.03. National Retail Properties posted a return on equity of 8.05% and a net margin of 42.73%. The company posted revenue of $190.28 million in the quarter, versus a consensus estimate of $186.63 million. During the same period a year earlier, the company posted EPS of $0.76. The company’s revenue increased 5.8% year-over-year. As a group, equity research analysts expect National Retail Properties to post EPS of 3.12 for the current year.
Institutional trading of domestic commercial properties
Several hedge funds and other institutional investors have been buying and selling stocks recently. Crossmark Global Holdings Inc. increased its stake in National Retail Properties by 1.5% during the second quarter. Crossmark Global Holdings Inc. now owns 16,820 shares of the real estate investment trust worth $723,000 after purchasing an additional 250 shares during the period. TPG Financial Advisors LLC increased its position in National Retail Properties by 9.3% in the second quarter. TPG Financial Advisors LLC now owns 11,204 shares of the real estate investment trust worth $482,000 after acquiring 957 additional shares in the last quarter. Asset Management One Co. Ltd. increased its position in National Retail Properties by 24.7% in the second quarter. Asset Management One Co. Ltd. now owns 356,628 shares of the real estate investment trust worth $15,335,000 after acquiring an additional 70,680 shares in the last quarter. Schnieders Capital Management LLC bought a new position in National Retail Properties in Q2 worth $222,000. Finally, Strengthening Families & Communities LLC increased its position in National Retail Properties by 1.6% in the 2nd quarter. Strengthening Families & Communities LLC now owns 38,356 shares of the real estate investment trust worth $1,722,000 after acquiring 612 additional shares in the last quarter. Hedge funds and other institutional investors hold 88.31% of the company’s shares.
About Domestic Commercial Properties
National Retail Properties invests primarily in high quality commercial properties generally subject to long-term net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with gross leasable area of approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.
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