State Treasurer State of Michigan Has $2.36 Million Stake in National Retail Properties, Inc. (NNN)

State Treasurer State of Michigan reduced its holdings in shares of National Retail Properties, Inc. (NYSE:NNN) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,700 shares of the real estate investment trust’s stock after selling 1,400 shares during the quarter. State Treasurer State of Michigan’s holdings in National Retail Properties were worth $2,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tandem Investment Advisors Inc. grew its holdings in shares of National Retail Properties by 2.0% during the fourth quarter. Tandem Investment Advisors Inc. now owns 174,611 shares of the real estate investment trust’s stock valued at $7,531,000 after buying an additional 3,457 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in National Retail Properties by 29.2% during the third quarter. Dupont Capital Management Corp now owns 105,052 shares of the real estate investment trust’s stock worth $4,376,000 after purchasing an additional 23,761 shares during the last quarter. Swiss National Bank boosted its holdings in National Retail Properties by 2.5% during the third quarter. Swiss National Bank now owns 549,800 shares of the real estate investment trust’s stock worth $22,905,000 after purchasing an additional 13,300 shares during the last quarter. Westpac Banking Corp boosted its holdings in National Retail Properties by 25.1% during the third quarter. Westpac Banking Corp now owns 214,445 shares of the real estate investment trust’s stock worth $8,934,000 after purchasing an additional 43,010 shares during the last quarter. Finally, AGF Investments Inc. boosted its holdings in National Retail Properties by 40.9% during the third quarter. AGF Investments Inc. now owns 755,688 shares of the real estate investment trust’s stock worth $31,482,000 after purchasing an additional 219,480 shares during the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.

Several research firms recently weighed in on NNN. B. Riley set a $52.00 price target on shares of National Retail Properties and gave the stock a “buy” rating in a report on Tuesday, November 14th. Robert W. Baird restated a “buy” rating and set a $46.00 price target on shares of National Retail Properties in a report on Friday, October 20th. UBS Group upgraded shares of National Retail Properties from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $36.00 to $42.00 in a report on Thursday, November 9th. Zacks Investment Research cut shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Ladenburg Thalmann Financial Services set a $47.00 price target on shares of National Retail Properties and gave the stock a “buy” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.67.

National Retail Properties, Inc. (NNN) opened at $37.29 on Monday. National Retail Properties, Inc. has a twelve month low of $36.45 and a twelve month high of $46.34. The firm has a market cap of $5,670.07, a PE ratio of 14.80, a P/E/G ratio of 2.93 and a beta of 0.28. The company has a current ratio of 7.66, a quick ratio of 7.66 and a debt-to-equity ratio of 0.86.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Tuesday, January 30th. National Retail Properties’s dividend payout ratio is 135.72%.

In other National Retail Properties news, CFO Kevin B. Habicht sold 20,664 shares of National Retail Properties stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $42.60, for a total value of $880,286.40. Following the sale, the chief financial officer now owns 125,722 shares of the company’s stock, valued at $5,355,757.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michelle Lynn Miller sold 750 shares of National Retail Properties stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $43.03, for a total transaction of $32,272.50. Following the completion of the sale, the executive vice president now directly owns 20,517 shares in the company, valued at approximately $882,846.51. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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

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