LADENBURG THALM/SH SH Lowers National Retail Properties (NNN) to Neutral

National Retail Properties (NYSE:NNN) was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other brokerages also recently commented on NNN. Royal Bank of Canada downgraded shares of National Retail Properties from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 14th. Stifel Nicolaus reaffirmed a “buy” rating on shares of National Retail Properties in a research note on Monday, December 3rd. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. B. Riley upped their target price on shares of National Retail Properties from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, Raymond James raised shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.00.

Shares of NYSE NNN opened at $53.18 on Monday. National Retail Properties has a fifty-two week low of $36.25 and a fifty-two week high of $53.76. The company has a market capitalization of $8.46 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 4.13 and a beta of 0.31. The company has a current ratio of 18.01, a quick ratio of 18.01 and a debt-to-equity ratio of 0.91.

In other National Retail Properties news, CFO Kevin B. Habicht sold 3,606 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $50.73, for a total value of $182,932.38. Following the completion of the sale, the chief financial officer now owns 117,581 shares of the company’s stock, valued at $5,964,884.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Eugene Bayer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $48.77, for a total transaction of $243,850.00. Following the completion of the sale, the insider now directly owns 132,130 shares of the company’s stock, valued at approximately $6,443,980.10. The disclosure for this sale can be found here. Insiders sold 13,465 shares of company stock valued at $667,681 in the last ninety days. Insiders own 0.78% of the company’s stock.

Several hedge funds have recently modified their holdings of NNN. Bank of Montreal Can increased its position in shares of National Retail Properties by 2.7% during the third quarter. Bank of Montreal Can now owns 66,832 shares of the real estate investment trust’s stock worth $2,995,000 after acquiring an additional 1,728 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of National Retail Properties by 9.5% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 20,198 shares of the real estate investment trust’s stock worth $905,000 after acquiring an additional 1,751 shares in the last quarter. Tandem Investment Advisors Inc. increased its position in shares of National Retail Properties by 5.4% during the third quarter. Tandem Investment Advisors Inc. now owns 258,045 shares of the real estate investment trust’s stock worth $11,566,000 after acquiring an additional 13,269 shares in the last quarter. Andra AP fonden increased its position in shares of National Retail Properties by 21.1% during the third quarter. Andra AP fonden now owns 155,700 shares of the real estate investment trust’s stock worth $6,978,000 after acquiring an additional 27,100 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of National Retail Properties by 3.4% during the third quarter. Louisiana State Employees Retirement System now owns 43,000 shares of the real estate investment trust’s stock worth $1,927,000 after acquiring an additional 1,400 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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