Gilman Hill Asset Management LLC increased its stake in shares of National Retail Properties (NYSE:NNN) by 36.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,259 shares of the real estate investment trust’s stock after buying an additional 32,958 shares during the period. National Retail Properties accounts for 2.1% of Gilman Hill Asset Management LLC’s holdings, making the stock its 8th largest position. Gilman Hill Asset Management LLC owned approximately 0.08% of National Retail Properties worth $4,859,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. PGGM Investments boosted its position in shares of National Retail Properties by 2.4% in the second quarter. PGGM Investments now owns 2,947,029 shares of the real estate investment trust’s stock worth $115,229,000 after buying an additional 70,000 shares during the last quarter. APG Asset Management US Inc. boosted its position in shares of National Retail Properties by 19.6% in the second quarter. APG Asset Management US Inc. now owns 1,819,300 shares of the real estate investment trust’s stock worth $71,135,000 after buying an additional 297,530 shares during the last quarter. Forsta AP Fonden boosted its position in shares of National Retail Properties by 175.4% in the second quarter. Forsta AP Fonden now owns 50,400 shares of the real estate investment trust’s stock worth $1,971,000 after buying an additional 32,100 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of National Retail Properties during the second quarter worth approximately $4,137,000. Finally, State Treasurer State of Michigan boosted its position in shares of National Retail Properties by 2.8% in the second quarter. State Treasurer State of Michigan now owns 61,500 shares of the real estate investment trust’s stock worth $2,405,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 89.75% of the company’s stock.
National Retail Properties (NNN) opened at 39.92 on Friday. National Retail Properties has a 12 month low of $36.45 and a 12 month high of $52.27. The stock has a market capitalization of $5.96 billion, a PE ratio of 29.99 and a beta of 0.38. The company’s 50-day moving average is $39.68 and its 200-day moving average is $41.50.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.29. The company had revenue of $145.55 million for the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Equities research analysts forecast that National Retail Properties will post $1.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.76%. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s dividend payout ratio (DPR) is presently 142.86%.
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A number of brokerages have issued reports on NNN. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. BidaskClub raised shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.67.
In related news, EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total transaction of $80,560.00. Following the sale, the executive vice president now owns 21,267 shares of the company’s stock, valued at $856,634.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.03% of the stock is owned by company insiders.
About National Retail Properties
National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.
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