Natixis Advisors L.P. reduced its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,493 shares of the real estate investment trust’s stock after selling 2,910 shares during the period. Natixis Advisors L.P. owned 0.07% of National Retail Properties worth $6,017,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in NNN. Public Employees Retirement System of Ohio increased its position in shares of National Retail Properties by 9.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 67,003 shares of the real estate investment trust’s stock valued at $3,552,000 after buying an additional 5,549 shares in the last quarter. USA Financial Portformulas Corp lifted its position in shares of National Retail Properties by 28.8% during the 2nd quarter. USA Financial Portformulas Corp now owns 6,270 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 1,402 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in National Retail Properties by 37.0% in the second quarter. Riverhead Capital Management LLC now owns 32,739 shares of the real estate investment trust’s stock valued at $1,736,000 after buying an additional 8,840 shares in the last quarter. Pacer Advisors Inc. boosted its stake in National Retail Properties by 2,581.6% in the second quarter. Pacer Advisors Inc. now owns 66,558 shares of the real estate investment trust’s stock valued at $3,528,000 after buying an additional 64,076 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in National Retail Properties by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 2,069,906 shares of the real estate investment trust’s stock valued at $109,725,000 after acquiring an additional 100,471 shares during the last quarter. 90.23% of the stock is owned by institutional investors.
Several research analysts have commented on the company. Morgan Stanley boosted their target price on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Wells Fargo & Co set a $62.00 price target on shares of National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, September 3rd. ValuEngine lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of National Retail Properties from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Raymond James set a $57.00 price objective on shares of National Retail Properties and gave the company a “hold” rating in a research note on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. National Retail Properties presently has an average rating of “Hold” and an average price target of $56.14.
NNN traded up $0.14 on Wednesday, reaching $54.19. The stock had a trading volume of 41,426 shares, compared to its average volume of 1,083,598. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 6.54 and a beta of 0.13. National Retail Properties, Inc. has a fifty-two week low of $42.97 and a fifty-two week high of $57.80. The firm has a 50-day moving average of $54.60 and a 200-day moving average of $53.66.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. National Retail Properties had a net margin of 43.14% and a return on equity of 7.88%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. Sell-side analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.515 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 3.80%. National Retail Properties’s dividend payout ratio is currently 76.87%.
In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the transaction, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at approximately $1,875,396.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.
National Retail Properties Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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