Natixis Advisors L.P. Cuts Stock Position in National Retail Properties, Inc. (NYSE:NNN)

Natixis Advisors L.P. trimmed its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. 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.’s holdings in National Retail Properties were worth $6,017,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PGGM Investments lifted its stake in National Retail Properties by 369.6% during the 2nd quarter. PGGM Investments now owns 3,164,375 shares of the real estate investment trust’s stock valued at $167,744,000 after acquiring an additional 2,490,524 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of National Retail Properties by 33.4% in the first quarter. JPMorgan Chase & Co. now owns 5,747,192 shares of the real estate investment trust’s stock valued at $318,336,000 after purchasing an additional 1,440,166 shares in the last quarter. FMR LLC lifted its holdings in shares of National Retail Properties by 17.6% in the first quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after purchasing an additional 581,343 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of National Retail Properties by 110.6% during the first quarter. Neuberger Berman Group LLC now owns 1,056,370 shares of the real estate investment trust’s stock valued at $58,512,000 after buying an additional 554,810 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of National Retail Properties by 1.9% during the first quarter. BlackRock Inc. now owns 23,305,276 shares of the real estate investment trust’s stock valued at $1,290,878,000 after buying an additional 423,636 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $55.44, for a total value of $94,248.00. Following the sale, the executive vice president now owns 39,454 shares in the company, valued at $2,187,329.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

A number of equities research analysts recently commented on the company. Wells Fargo & Co set a $62.00 price target on National Retail Properties and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Raymond James set a $57.00 target price on shares of National Retail Properties and gave the stock a “hold” rating in a research note on Monday, May 20th. ValuEngine downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley boosted their price target on shares of National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.14.

NYSE:NNN traded up $0.14 during trading on Wednesday, reaching $54.19. The company’s stock had a trading volume of 41,426 shares, compared to its average volume of 1,083,598. National Retail Properties, Inc. has a 12 month low of $42.97 and a 12 month high of $57.80. The firm has a market cap 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. The firm has a 50 day moving average of $54.60 and a 200-day moving average of $53.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.83 and a current ratio of 1.83.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). The company had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $163.73 million. National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. National Retail Properties’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Equities research analysts forecast that National Retail Properties, Inc. will post 2.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a $0.515 dividend. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $2.06 annualized dividend and a yield of 3.80%. National Retail Properties’s payout ratio is currently 76.87%.

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

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