BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stake in National Retail Properties, Inc. (NNN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 25.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,106 shares of the real estate investment trust’s stock after selling 27,816 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of National Retail Properties worth $3,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NNN. Korea Investment CORP boosted its stake in National Retail Properties by 243.2% in the fourth quarter. Korea Investment CORP now owns 111,908 shares of the real estate investment trust’s stock worth $5,429,000 after purchasing an additional 79,300 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of National Retail Properties by 200.0% during the fourth quarter. Bessemer Group Inc. now owns 2,250 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 1,500 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of National Retail Properties by 5.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 234,410 shares of the real estate investment trust’s stock valued at $11,371,000 after acquiring an additional 11,740 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of National Retail Properties by 108.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 233,287 shares of the real estate investment trust’s stock valued at $10,725,000 after acquiring an additional 121,456 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of National Retail Properties by 8.2% during the fourth quarter. Van ECK Associates Corp now owns 37,679 shares of the real estate investment trust’s stock valued at $1,828,000 after acquiring an additional 2,854 shares during the period. Institutional investors and hedge funds own 89.65% of the company’s stock.

In other National Retail Properties news, CEO Julian E. Whitehurst sold 34,045 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $52.64, for a total value of $1,792,128.80. Following the completion of the sale, the chief executive officer now directly owns 384,788 shares in the company, valued at $20,255,240.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin B. Habicht sold 19,641 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $52.08, for a total value of $1,022,903.28. Following the completion of the sale, the chief financial officer now owns 136,502 shares of the company’s stock, valued at $7,109,024.16. The disclosure for this sale can be found here. Insiders sold 89,431 shares of company stock worth $4,678,142 in the last three months. Insiders own 0.78% of the company’s stock.

NNN has been the topic of several research reports. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, February 15th. Raymond James raised National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. LADENBURG THALM/SH SH lowered National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Royal Bank of Canada lowered National Retail Properties from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of National Retail Properties in a research note on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $50.33.

NYSE:NNN opened at $53.43 on Friday. National Retail Properties, Inc. has a 1-year low of $36.95 and a 1-year high of $54.56. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 4.39 and a beta of 0.27.

National Retail Properties (NYSE:NNN) last released its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.46). National Retail Properties had a net margin of 46.97% and a return on equity of 8.63%. The company had revenue of $158.83 million during the quarter, compared to analyst estimates of $157.82 million. Research analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Thursday, January 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.74%. The ex-dividend date was Wednesday, January 30th. National Retail Properties’s payout ratio is 74.63%.

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National Retail Properties Profile

National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It also acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.

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

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