Pictet Asset Management Ltd. Cuts Position in National Retail Properties, Inc. (NYSE:NNN)

Pictet Asset Management Ltd. cut its stake in National Retail Properties, Inc. (NYSE:NNN) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,173 shares of the real estate investment trust’s stock after selling 1,900 shares during the period. Pictet Asset Management Ltd. owned about 0.05% of National Retail Properties worth $4,621,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Cornerstone Advisors Inc. lifted its stake in National Retail Properties by 170.8% in the first quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 292 shares during the last quarter. JJJ Advisors Inc. bought a new stake in National Retail Properties in the second quarter worth $31,000. Cascade Investment Advisors Inc. bought a new stake in National Retail Properties in the second quarter worth $32,000. TRUE Private Wealth Advisors bought a new stake in National Retail Properties in the second quarter worth $53,000. Finally, Cutler Group LP lifted its stake in National Retail Properties by 60.6% in the first quarter. Cutler Group LP now owns 1,494 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 564 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

In other news, EVP Michelle Lynn Miller sold 1,700 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $55.44, for a total transaction of $94,248.00. Following the completion of the transaction, the executive vice president now directly owns 39,454 shares of the company’s stock, valued at $2,187,329.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Shares of NYSE:NNN traded up $0.97 during midday trading on Tuesday, hitting $54.64. 161,655 shares of the stock traded hands, compared to its average volume of 1,182,982. The stock has a market capitalization of $8.67 billion, a PE ratio of 20.39, a P/E/G ratio of 6.25 and a beta of 0.13. The business’s 50 day moving average is $54.71 and its two-hundred day moving average is $53.68. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.81. National Retail Properties, Inc. has a one year low of $42.97 and a one year high of $57.80.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.25). The firm had revenue of $164.80 million for the quarter, compared to the consensus estimate 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 was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. As a group, sell-side analysts forecast that National Retail Properties, Inc. will post 2.74 earnings per share for the current year.

Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Morgan Stanley boosted their price target on shares of National Retail Properties from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Wells Fargo & Co set a $62.00 price objective on shares of National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, September 3rd. 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. National Retail Properties currently has an average rating of “Hold” and an average target price of $56.43.

About National Retail Properties

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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Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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