Advisors Asset Management Inc. lessened its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 59.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,842 shares of the real estate investment trust’s stock after selling 10,137 shares during the quarter. Advisors Asset Management Inc.’s holdings in National Retail Properties were worth $581,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NNN. Advisors Preferred LLC boosted its holdings in shares of National Retail Properties by 119.6% in the 2nd quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 1,346 shares during the period. Asset Advisors Corp purchased a new position in shares of National Retail Properties in the 2nd quarter worth approximately $110,000. Centaurus Financial Inc. purchased a new position in shares of National Retail Properties in the 2nd quarter worth approximately $124,000. Gradient Investments LLC boosted its holdings in shares of National Retail Properties by 7,526.0% in the 2nd quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 3,763 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of National Retail Properties in the 2nd quarter worth approximately $215,000. Institutional investors and hedge funds own 90.84% of the company’s stock.
In related news, insider Christopher Paul Tessitore sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $45.99, for a total transaction of $459,900.00. Following the completion of the transaction, the insider now owns 108,686 shares in the company, valued at approximately $4,998,469.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Julian E. Whitehurst sold 26,130 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $46.06, for a total value of $1,203,547.80. Following the transaction, the chief executive officer now owns 329,403 shares of the company’s stock, valued at approximately $15,172,302.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,685 shares of company stock valued at $2,511,863. 0.78% of the stock is owned by company insiders.
NNN opened at $45.07 on Tuesday. National Retail Properties, Inc. has a 52-week low of $36.25 and a 52-week high of $46.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $7.04 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 3.63 and a beta of 0.18.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.26). National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The business had revenue of $155.50 million for the quarter, compared to analysts’ expectations of $154.12 million. During the same quarter in the previous year, the firm earned $0.64 EPS. National Retail Properties’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that National Retail Properties, Inc. will post 2.68 earnings per share for the current fiscal year.
NNN has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $46.00 target price on shares of National Retail Properties in a report on Wednesday, August 1st. B. Riley lifted their target price on National Retail Properties from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. LADENBURG THALM/SH SH set a $48.00 target price on National Retail Properties and gave the stock a “buy” rating in a report on Wednesday, September 26th. Janney Montgomery Scott cut National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Finally, Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.75.
National Retail Properties Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.
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