National Retail Properties (NNN) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 16, 2016.
Many Wall Street Analysts have commented on National Retail Properties. Company shares were Reiterated by Wunderlich on Feb 17, 2016 to “Hold”, Firm has raised the Price Target to $ 43 from a previous price target of $40 .
On the company’s financial health, National Retail Properties reported $0.58 EPS for the quarter, based on the information available during the earnings call on May 2, 2016. Analyst had a consensus estimate of $0.58. The company had revenue of $127.00 million for the quarter, compared to analysts expectations of $127.43 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.
National Retail Properties closed down -0.58 points or -1.22% at $46.78 with 7,60,481 shares getting traded on Friday. Post opening the session at $47.18, the shares hit an intraday low of $46.38 and an intraday high of $47.315 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 9, 2016, Ted B Lanier (director) sold 1,500 shares at $46.95 per share price. According to the SEC, on May 6, 2016, Craig Macnab (Chief Executive Officer) sold 15,000 shares at $46.45 per share price. On Apr 5, 2016, Julian E Whitehurst (President and COO) sold 10,000 shares at $46.05 per share price, according to the Form-4 filing with the securities and exchange commission.
National Retail Properties Inc. is a real estate investment trust (REIT). The Company acquires owns invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are held for investment. As of December 31 2014 the Company owned 2054 Properties with a gross leasable area of approximately 22479000 square feet located in 47 states. Approximately 99% of the properties were leased as of December 31 2014. The Companys portfolio include convenience stores restaurants automotive service restaurants-limited service theaters family entertainment centers automotive parts and banks among others. It has operations in Texas Florida North Carolina Illinois Georgia Indiana and California among others. As of December 31 2014 The Company owned 29 vacant un-leased Properties which accounted for approximately 1% of total Properties.