IFP Advisors Inc raised its position in National Retail Properties (NYSE:NNN) by 10.5% during the second quarter, Holdings Channel reports. The fund owned 21,365 shares of the real estate investment trust’s stock after buying an additional 2,029 shares during the period. IFP Advisors Inc’s holdings in National Retail Properties were worth $835,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in National Retail Properties by 278.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 1,694 shares during the last quarter. IHT Wealth Management LLC raised its position in National Retail Properties by 1.0% in the first quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 28 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in National Retail Properties during the first quarter worth $122,000. Pinnacle Bank acquired a new position in National Retail Properties during the first quarter worth $179,000. Finally, Greenleaf Trust acquired a new position in National Retail Properties during the first quarter worth $209,000. 89.75% of the stock is currently owned by institutional investors and hedge funds.
National Retail Properties (NYSE:NNN) opened at 40.83 on Thursday. National Retail Properties has a one year low of $36.45 and a one year high of $52.27. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 30.68 and a beta of 0.38. The firm has a 50-day moving average price of $39.55 and a 200-day moving average price of $41.55.
National Retail Properties (NYSE:NNN) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The firm had revenue of $145.55 million during the quarter, compared to analysts’ expectations of $142.83 million. During the same period in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts expect that National Retail Properties will post $1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 4.65%. National Retail Properties’s payout ratio is 142.86%.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, August 2nd. BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.67.
In other news, EVP Michelle Lynn Miller sold 2,000 shares of National Retail Properties stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total value of $80,560.00. Following the completion of the transaction, the executive vice president now directly owns 21,267 shares in the company, valued at $856,634.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.03% of the stock is currently owned by insiders.
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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