BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 46.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,799 shares of the real estate investment trust’s stock after selling 90,298 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of National Retail Properties worth $4,366,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in National Retail Properties by 82.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 1,632 shares during the last quarter. BB&T Investment Services Inc. bought a new position in National Retail Properties during the second quarter worth about $212,000. Timber Hill LLC bought a new position in National Retail Properties during the third quarter worth about $212,000. Raymond James Trust N.A. bought a new position in National Retail Properties during the third quarter worth about $231,000. Finally, CIBC Asset Management Inc bought a new position in National Retail Properties during the third quarter worth about $236,000. Hedge funds and other institutional investors own 90.55% of the company’s stock.
NNN has been the topic of a number of recent analyst reports. FBR & Co restated a “buy” rating and set a $52.00 target price on shares of National Retail Properties in a report on Thursday, September 7th. Ladenburg Thalmann Financial Services upgraded National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Monday, September 11th. Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, October 11th. Robert W. Baird reiterated a “buy” rating and set a $46.00 price objective on shares of National Retail Properties in a report on Friday, October 20th. Finally, B. Riley reiterated a “buy” rating on shares of National Retail Properties in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. National Retail Properties currently has a consensus rating of “Buy” and an average target price of $47.71.
National Retail Properties, Inc. (NNN) traded up $0.38 during trading hours on Thursday, hitting $42.56. The stock had a trading volume of 974,600 shares, compared to its average volume of 1,087,029. National Retail Properties, Inc. has a fifty-two week low of $36.45 and a fifty-two week high of $46.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 7.66 and a quick ratio of 7.66. The company has a market cap of $6,413.61, a PE ratio of 16.74, a PEG ratio of 3.46 and a beta of 0.39.
National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The business had revenue of $147.71 million for the quarter, compared to analysts’ expectations of $146.57 million. During the same quarter in the previous year, the business posted $0.61 EPS. National Retail Properties’s revenue for the quarter was up 9.8% on a year-over-year basis. equities analysts anticipate that National Retail Properties, Inc. will post 2.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.46%. The ex-dividend date was Monday, October 30th. National Retail Properties’s payout ratio is 135.72%.
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National Retail Properties Company Profile
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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