National Retail Properties, Inc. (NYSE:NNN) was the target of a significant increase in short interest during the month of January. As of January 31, there was short interest totaling 5,390,000 shares, an increase of 26.8% from the total of 4,250,000 shares as of January 15. Based on an average trading volume of 950,500 shares, the short interest ratio is currently 5.7 days. Approximately 3.1% of the company’s shares are sold short.
Shares of NYSE:NNN traded down $0.05 in Friday trading, hitting $43.29. 64,601 shares of the company were traded, against an average volume of 1,100,603. The stock has a market capitalization of $7.60 billion, a P/E ratio of 29.47, a PEG ratio of 3, 69 and a beta of 0.88. The company has a debt ratio of 0.96, a current ratio of 10.98 and a quick ratio of 10.98. National Retail Properties has a 12-month low of $41.35 and a 12-month high of $50.33. The company’s 50-day moving average price is $45.29 and its 200-day moving average price is $45.78.
National Retail Properties (NYSE:NNN) last released quarterly earnings data on Wednesday, February 9. The real estate investment trust reported earnings per share of $0.37 for the quarter, missing the consensus estimate of $0.73 per ($0.36). National Retail Properties posted a return on equity of 6.95% and a net margin of 38.98%. In the same quarter a year earlier, the company posted EPS of $0.69. As a group, equity research analysts expect National Retail Properties to post EPS of 2.94 for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 15. Investors of record on Monday, January 31 received a dividend of $0.53. The ex-dividend date was Friday, January 28. This represents an annualized dividend of $2.12 and a yield of 4.90%. National Retail Properties’ dividend payout ratio (DPR) is 144.22%.
A number of hedge funds have recently increased or reduced their holdings in NNN. State Street Corp increased its position in National Retail Properties by 12.5% in the fourth quarter. State Street Corp now owns 18,330,427 shares of the real estate investment trust valued at $881,144,000 after purchasing an additional 2,037,833 shares in the last quarter. Victory Capital Management Inc. increased its stake in National Retail Properties by 27.4% in Q3. Victory Capital Management Inc. now owns 6,400,011 shares of the real estate investment trust worth $276,416,000 after purchasing an additional 1,377,056 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its stake in National Retail Properties by 203.5% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,767,842 shares of the real estate investment trust valued at $76,353,000 after purchasing an additional 1,185,385 shares during the period. Lasalle Investment Management Securities LLC acquired a new position in National Retail Properties in Q2 worth $45,981,000. Finally, Janus Henderson Group PLC increased its stake in National Retail Properties by 31.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,889,084 shares of the real estate investment trust valued at $81,599,000 after purchasing an additional 447,035 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s shares.
A number of equity research analysts have weighed in on the stock. StockNews.com upgraded the shares of National Retail Properties from a “buy” rating to a “hold” rating in a Sunday, Feb. 13 research report. B. Riley lowered his price target on National Retail Properties shares from $55.00 to $50.00 in a Thursday, February 10, research report. Bank of America cut National Retail Properties shares from a “buy” rating to an “underperform” rating and lowered its price target for the company from $52.00 to $47.00 in a report by the Thursday January 20. Zacks Investment Research upgraded shares of National Retail Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group downgraded the shares of National Retail Properties from a “buy” rating to a “hold” rating and lowered its price target for the stock from $54.00 to $50.00 in a note. research Monday, January 10. One research analyst has assigned the stock a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned the stock a strong buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.56.
About Domestic Commercial Properties
National Retail Properties, Inc. is a real estate investment trust that invests in properties subject to long-term net leases. It acquires, owns, invests in and develops properties that are leased to commercial tenants under long-term net leases and held for investment purposes. The company was founded on August 8, 1984 and is based in Orlando, Florida.
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