Driehaus Capital Management LLC cut its position in National Retail Properties, Inc. (NYSE:NNN) by 51.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,300 shares of the real estate investment trust’s stock after selling 34,880 shares during the quarter. Driehaus Capital Management LLC’s holdings in National Retail Properties were worth $1,393,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of NNN. Independent Advisor Alliance bought a new stake in shares of National Retail Properties in the third quarter valued at $204,000. ING Groep NV bought a new stake in shares of National Retail Properties in the fourth quarter valued at $205,000. Timber Hill LLC bought a new stake in shares of National Retail Properties in the third quarter valued at $212,000. Lourd Capital LLC bought a new stake in shares of National Retail Properties in the fourth quarter valued at $217,000. Finally, CIBC Asset Management Inc bought a new stake in shares of National Retail Properties during the 3rd quarter valued at $236,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.
In other news, EVP Michelle Lynn Miller sold 750 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $43.03, for a total value of $32,272.50. Following the completion of the transaction, the executive vice president now directly owns 20,517 shares in the company, valued at approximately $882,846.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $37.64, for a total value of $451,680.00. Following the completion of the transaction, the executive vice president now owns 102,433 shares of the company’s stock, valued at $3,855,578.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,414 shares of company stock valued at $1,364,239. 1.03% of the stock is owned by company insiders.
National Retail Properties, Inc. (NNN) opened at $38.74 on Wednesday. National Retail Properties, Inc. has a 52-week low of $36.25 and a 52-week high of $45.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $6,003.54, a PE ratio of 15.42, a P/E/G ratio of 3.06 and a beta of 0.34.
National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.01). National Retail Properties had a return on equity of 8.52% and a net margin of 45.30%. The business had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $148.46 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. National Retail Properties’s quarterly revenue was up 6.4% compared to the same quarter last year. equities research analysts predict that National Retail Properties, Inc. will post 2.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Tuesday, January 30th. National Retail Properties’s payout ratio is 131.03%.
A number of analysts recently issued reports on NNN shares. Ladenburg Thalmann Financial Services set a $47.00 price objective on National Retail Properties and gave the company a “buy” rating in a research note on Wednesday, January 24th. B. Riley set a $52.00 price objective on National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, TheStreet lowered National Retail Properties from a “b” rating to a “c+” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. National Retail Properties presently has a consensus rating of “Hold” and an average price target of $46.50.
TRADEMARK VIOLATION WARNING: This news story was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thelincolnianonline.com/2018/03/14/driehaus-capital-management-llc-lowers-holdings-in-national-retail-properties-inc-nnn.html.
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.
Want to see what other hedge funds are holding NNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Retail Properties, Inc. (NYSE:NNN).
Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.