Morgan Stanley Increases National Retail Properties (NYSE:NNN) Price Target to $56.00

National Retail Properties (NYSE:NNN) had its target price increased by Morgan Stanley from $54.00 to $56.00 in a report issued on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus raised their price objective on National Retail Properties from $56.00 to $57.00 and gave the stock a buy rating in a research note on Tuesday, August 20th. Raymond James set a $57.00 price objective on National Retail Properties and gave the stock a hold rating in a research note on Monday, May 20th. Zacks Investment Research lowered National Retail Properties from a buy rating to a hold rating in a research note on Tuesday, August 6th. Wells Fargo & Co set a $62.00 price objective on National Retail Properties and gave the stock a buy rating in a research note on Tuesday, September 3rd. Finally, ValuEngine lowered National Retail Properties from a buy rating to a hold rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $56.43.

Shares of NYSE NNN opened at $55.72 on Tuesday. The stock has a fifty day moving average price of $54.89 and a two-hundred day moving average price of $53.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $8.92 billion, a P/E ratio of 20.35, a PEG ratio of 6.42 and a beta of 0.13. National Retail Properties has a 1 year low of $42.97 and a 1 year high of $57.80.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.25). The company had revenue of $164.80 million for the quarter, compared to the consensus estimate of $163.73 million. National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. On average, research analysts predict that National Retail Properties will post 2.74 earnings per share for the current fiscal year.

In other news, EVP Michelle Lynn Miller sold 1,700 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total value of $94,248.00. Following the completion of the sale, the executive vice president now owns 39,454 shares of the company’s stock, valued at $2,187,329.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Several institutional investors have recently modified their holdings of NNN. Geode Capital Management LLC boosted its position in shares of National Retail Properties by 14.0% in the fourth quarter. Geode Capital Management LLC now owns 1,746,795 shares of the real estate investment trust’s stock worth $84,683,000 after buying an additional 214,643 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of National Retail Properties by 170.8% in the first 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 during the period. Systematic Financial Management LP boosted its position in shares of National Retail Properties by 68.2% in the first quarter. Systematic Financial Management LP now owns 7,400 shares of the real estate investment trust’s stock worth $410,000 after buying an additional 3,000 shares during the period. Toronto Dominion Bank boosted its position in shares of National Retail Properties by 35.5% in the first quarter. Toronto Dominion Bank now owns 28,653 shares of the real estate investment trust’s stock worth $1,587,000 after buying an additional 7,511 shares during the period. Finally, Raymond James & Associates boosted its position in shares of National Retail Properties by 4.9% in the first quarter. Raymond James & Associates now owns 112,203 shares of the real estate investment trust’s stock worth $6,215,000 after buying an additional 5,253 shares during the period. 90.25% 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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