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Fly News Breaks for August 7, 2018
NNN
Aug 7, 2018 | 08:25 EDT
As previously reported, Janney Montgomery Scott analyst Robert Stevenson downgraded National Retail Properties to Neutral from Buy as he sees less near-term upside following the stock's roughly 15% rally over the last 3 months. On a relative basis, National Retail is trading at a 10% premium to the peer group implied cap rate, said Stevenson, who noted that his downgrade is "solely valuation driven." He maintains a $46 fair value estimate on the shares.
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