Morgan Stanley Increases National Retail Properties (NYSE:NNN) Price Target to $54.00

National Retail Properties (NYSE:NNN) had its price objective lifted by equities research analysts at Morgan Stanley from $53.00 to $54.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price would suggest a potential upside of 0.41% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Raymond James set a $57.00 price target on shares of National Retail Properties and gave the company a “hold” rating in a report on Monday, May 20th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.88.

Shares of NNN stock opened at $53.78 on Thursday. The company has a market cap of $8.91 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 4.63 and a beta of 0.18. National Retail Properties has a one year low of $42.97 and a one year high of $55.97. The company’s fifty day moving average price is $54.07. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.81.



National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.23). The firm had revenue of $163.71 million for the quarter, compared to the consensus estimate of $161.34 million. National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. As a group, equities analysts expect that National Retail Properties will post 2.75 earnings per share for the current year.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,500 shares of National Retail Properties stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the transaction, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at approximately $1,875,396.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Paul Tessitore sold 2,550 shares of National Retail Properties stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total transaction of $65,509.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,949 shares of company stock worth $2,135,298. 0.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Cornerstone Advisors Inc. grew its stake in shares of National Retail Properties by 170.8% in the 1st quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 292 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of National Retail Properties in the 1st quarter worth $34,000. Next Capital Management LLC purchased a new position in shares of National Retail Properties in the 1st quarter worth $51,000. CWM LLC grew its stake in shares of National Retail Properties by 157.1% in the 1st quarter. CWM LLC now owns 990 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 605 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of National Retail Properties in the 1st quarter worth $57,000. 89.47% of the stock is owned by institutional investors and hedge funds.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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Analyst Recommendations for National Retail Properties (NYSE:NNN)

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