National Retail Properties (NYSE: NNN) shares rose in value on Tuesday January 31 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.60% fell 140 points, or 0.7%, to 19,833, with 26 of the 30 blue-chip companies trading lower. Nike, Inc. NKE, -1.10% down 2.4% and Intel Corp. INTC, -1.70% off 1%, were leading losses.
The S&P 500 SPX, -0.33% was off by 10 points, or 0.5%, to 2,270 with seven of the 11 main sectors trading lower. Industrials, consumer-discretionary, and technology shares were the worst performers, while real estate and utilities stocks attracted buyers.
The health-care sector, which was down in early trade, rebounded after President Trump called for scaling back drugmaker’s regulation, lowering taxes and prices of medicines.
The Nasdaq Composite COMP, -0.25% declined 31 points, or 0.6%, to 5,581.
Analysts at Bank of America Corporation upgraded shares of National Retail Properties (NYSE: NNN) from Neutral to Buy today. The company currently has a rating of Buy on the shares. The one-year price target of $48.15 is higher than the opening price of $43.24, causing a fair amount of other analysts to report on the stock recently. Looking back over the last year, National Retail Properties stock has a high of $53.60. Typically, after analysts issue an upgrade report on a stock, they will later issue other revisions, usually followed by a price target change.
Yesterday National Retail Properties (NYSE: NNN) shares last traded at $43.35, a jump of $0.76 compared to the previous closing price. Opening at $43.24, they fluctuated from $43.18 and $43.72 throughout the day.
National Retail Properties (NYSE: NNN) currently has a market cap of 6.38B.
National Retail Properties (NYSE: NNN) Average Daily Trading Volume
306,468 shares traded hands yesterday, 75 percent below normal, out of a total float 145,698,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
National Retail Properties (NYSE: NNN) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, National Retail Properties (NYSE: NNN) now has a 50-day MA of $44.08 and 200-day MA of $46.97. It has traded in a 52-week range between $39.86 – 53.60 and today’s last price is 19.12%% lower than the 52 week high of $53.60.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more over 3 consecutive years.
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