Wells Fargo initiated coverage of National Retail Properties with an Equal Weight rating and $40 price target. The REIT focuses on freestanding small footprint net lease properties leased to diverse operators, says the firm, which adds that National Retail “exhibits a stable operating platform and attractive relative valuation.” However, the REIT’s relatively high cost of capital points to limited external growth opportunities at present, the firm argues.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NNN:
- National Retail Properties price target lowered to $46 from $50 at B. Riley
- National Retail Properties files automatic mixed securities shelf
- SECOND QUARTER 2023 OPERATING RESULTS AND INCREASED 2023 GUIDANCE ANNOUNCED BY NNN REIT, INC.
- National Retail Properties sees FY23 AFFO $3.20-$3.25, consensus $3.26
- National Retail Properties reports Q2 AFFO 80c, consensus 81c
