National Retail Properties' (NYSE:NNN) Acquisitions Higher than Expected

Citing what they believe will be higher acquisitions than estimated, Jefferies raised their price target on National Retail Properties (NYSE:NNN) while lowering their EPS through 2011.

Jefferies believes the acquisition outlook by management is understated, saying, "We see a strong probability that acquisitions will come in higher-than-expected and close earlier-than-expected."

EPS estimates were lowered for full year 2010 from $1.43 to $1.39, and for full year 2011 from $1.54 to $1.50.

They reiterate their "Hold" rating on National Retail Properties, which closed Monday at $27.11, down $0.08, or 0.29 percent. Jefferies has a price target of $29 on them, raising it from $25.