Victory Capital Management Inc. Cuts Stock Position in National Retail Properties, Inc. (NYSE:NNN)

Victory Capital Management Inc. cut its holdings in National Retail Properties, Inc. (NYSE:NNN) by 4.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,790,853 shares of the real estate investment trust’s stock after selling 122,600 shares during the quarter. Victory Capital Management Inc.’s holdings in National Retail Properties were worth $147,942,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its holdings in shares of National Retail Properties by 2.4% in the second quarter. UBS Asset Management Americas Inc. now owns 900,937 shares of the real estate investment trust’s stock valued at $47,759,000 after purchasing an additional 21,494 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in National Retail Properties during the second quarter worth $201,000. California State Teachers Retirement System boosted its stake in National Retail Properties by 2.4% during the second quarter. California State Teachers Retirement System now owns 279,324 shares of the real estate investment trust’s stock worth $14,807,000 after buying an additional 6,529 shares during the period. Bank of America Corp DE boosted its stake in National Retail Properties by 0.9% during the second quarter. Bank of America Corp DE now owns 913,177 shares of the real estate investment trust’s stock worth $48,407,000 after buying an additional 7,729 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in National Retail Properties during the second quarter worth $358,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Michelle Lynn Miller sold 1,700 shares of National Retail Properties stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total transaction of $94,248.00. Following the completion of the sale, the executive vice president now directly owns 39,454 shares in the company, valued at $2,187,329.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Several research firms have commented on NNN. ValuEngine lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Co set a $62.00 price objective on shares of National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus lifted 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 note on Tuesday, August 20th. Finally, Morgan Stanley lifted their price objective 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, September 17th. 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 company has a consensus rating of “Hold” and a consensus price target of $56.43.

Shares of NYSE:NNN traded up $0.60 on Friday, hitting $55.72. 1,426,127 shares of the company’s stock were exchanged, compared to its average volume of 1,232,048. National Retail Properties, Inc. has a 12 month low of $42.97 and a 12 month high of $57.80. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 6.49 and a beta of 0.13. The business’s 50 day simple moving average is $54.89 and its two-hundred day simple moving average is $53.74. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83.

National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The business had revenue of $164.80 million for the quarter, compared to the consensus estimate of $163.73 million. During the same quarter last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that National Retail Properties, Inc. will post 2.74 EPS for the current fiscal year.

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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