UPDATE: RBC Capital Starts National Retail Properties (NNN) at Sector Perform
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RBC Capital analyst Brad Heffern initiates coverage on National Retail Properties (NYSE: NNN) with a Sector Perform rating and a price target of $48.00.
The analyst commented, "NNN has one of the longest value creation track records in the net lease space, and COVID-related weakness is largely in the rear view mirror. However, a recovery in both collection rates and acquisition pace have not been enough to restore NNN's historical low cost of capital. While NNN's current valuation is among the most displaced in net lease versus typical trading ranges, we also do not see an obvious catalyst for the multiple to come back and initiate with a Sector Perform rating."
Shares of National Retail Properties closed at $45.28 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
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