National Retail Properties, Inc. (NYSE:NNN) sees significant drop in short-term interest
National Retail Properties, Inc. (NYSE:NNN – Get Rating) was the beneficiary of a sharp drop in short-term interest during May. As of May 15, there was short interest totaling 4,960,000 shares, a decline of 15.9% from the April 30 total of 5,900,000 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily volume of 956,400 shares, the day-to-cover ratio is currently 5.2 days.
A number of research companies have published reports on NNN. Zacks Investment Research upgraded shares of National Retail Properties from a “sell” rating to a “hold” rating in a Tuesday, May 10 research report. Colliers Securities cut its price target on National Retail Properties stock to $49.00 and set an “na” rating for the company in a Wednesday, May 18 research report. StockNews.com upgraded the shares of National Retail Properties from a “hold” rating to a “buy” rating in a Wednesday, May 18 research report. B. Riley cut his price target on National Retail Properties stock from $55.00 to $50.00 in a Thursday, Feb. 10, research report. Finally, Raymond James cut his price target on National Retail Properties shares from $55.00 to $50.00 and set a “Strong Buy” rating for the company in a Thursday, Feb. 10 research report. One investment analyst gave the stock a sell rating, four gave the company a hold rating, two gave the stock a buy rating and one gave the company a high buy rating. According to MarketBeat.com, National Retail Properties currently has a consensus rating of “Hold” and a consensus target price of $49.90.
Shares of National Retail Properties were down $0.62 during Wednesday’s trading, hitting $43.68. The company had a trading volume of 12,600 shares, against an average volume of 897,133. The company’s 50-day simple moving average is $44.72 and its 200-day simple moving average is 44.74 $. National Retail Properties has a 1-year low of $40.65 and a 1-year high of $50.33. The company has a market capitalization of $7.68 billion, a PE ratio of 26.53, a growth price-earnings ratio of 3.57 and a beta of 0.84. The company has a debt ratio of 0.96, a quick ratio of 1.50 and a current ratio of 1.50.
National Retail Properties (NYSE:NNN – Get Rating) last released its quarterly results 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 had a net margin of 42.73% and a return on equity of 8.05%. The company posted revenue of $190.28 million for the quarter, compared to $186.63 million expected by analysts. In the same quarter last year, the company achieved EPS of $0.76. The company’s revenue for the quarter increased 5.8% compared to the same quarter last year. Analysts expect National Retail Properties to post EPS of 3.07 for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, April 29 received a dividend of $0.53 per share. The ex-dividend date was Thursday, April 28. This represents an annualized dividend of $2.12 and a yield of 4.85%. National Retail Properties’ dividend payout ratio (DPR) is currently 126.95%.
Institutional investors and hedge funds have recently changed their positions in the company. CENTRAL TRUST Co acquired a new stake in National Retail Properties during Q1 valued at $25,000. National Bank of Canada FI bought a new stock position in National Retail Properties during the 4th quarter for a value of $27,000. Prospera Financial Services Inc bought a new stock position in National Retail Properties during Q1 worth $30,000. Bogart Wealth LLC increased its equity stake in National Retail Properties by 183.2% in Q1. Bogart Wealth LLC now owns 691 shares of the real estate investment trust worth $31,000 after acquiring an additional 447 shares during the period. Finally, Covestor Ltd bought a new position in shares of National Retail Properties during the 4th quarter at a value of $33,000. 88.31% of the shares are currently held by institutional investors.
National Commercial Properties Company Profile (Get a rating)
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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