Cetera Investment Advisers raised its stake in National Retail Properties, Inc. (NYSE:NNN) by 49.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,326 shares of the real estate investment trust’s stock after purchasing an additional 4,084 shares during the period. Cetera Investment Advisers’ holdings in National Retail Properties were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Key Financial Inc acquired a new stake in National Retail Properties in the 4th quarter valued at about $33,000. Chiron Capital Management LLC acquired a new stake in National Retail Properties in the 3rd quarter valued at about $45,000. Neo Ivy Capital Management acquired a new stake in National Retail Properties in the 3rd quarter valued at about $47,000. Whittier Trust Co. acquired a new stake in National Retail Properties in the 4th quarter valued at about $48,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in National Retail Properties in the 4th quarter valued at about $123,000. 89.15% of the stock is currently owned by institutional investors.
In other National Retail Properties news, CFO Kevin B. Habicht sold 22,126 shares of National Retail Properties stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $44.29, for a total transaction of $979,960.54. Following the transaction, the chief financial officer now owns 189,839 shares of the company’s stock, valued at $8,407,969.31. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher Paul Tessitore sold 30,000 shares of National Retail Properties stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. In the last ninety days, insiders have sold 92,907 shares of company stock worth $4,049,339. 0.77% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on the company. Raymond James reaffirmed a “buy” rating on shares of National Retail Properties in a research report on Monday, February 15th. B. Riley raised their target price on National Retail Properties from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. They noted that the move was a valuation call. Bank of America raised National Retail Properties from an “underperform” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley raised their target price on National Retail Properties from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 15th. Finally, Wells Fargo & Company lowered National Retail Properties from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $41.00 to $40.00 in a research report on Thursday, December 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. National Retail Properties currently has a consensus rating of “Hold” and an average target price of $41.29.
NNN opened at $45.46 on Thursday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 36.96 and a beta of 0.74. National Retail Properties, Inc. has a 52 week low of $25.87 and a 52 week high of $46.44. The business’s 50 day moving average is $43.62 and its two-hundred day moving average is $39.61. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.82.
National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Thursday, February 11th. The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.32). National Retail Properties had a return on equity of 6.09% and a net margin of 35.97%. Equities analysts expect that National Retail Properties, Inc. will post 2.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Shareholders of record on Friday, January 29th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.58%. The ex-dividend date was Thursday, January 28th. National Retail Properties’s dividend payout ratio (DPR) is 75.36%.
National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.
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