National Retail Properties (NNN) Shares Bought by State of Tennessee Treasury Department

State of Tennessee Treasury Department increased its stake in National Retail Properties (NYSE:NNN) by 55.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,800 shares of the real estate investment trust’s stock after purchasing an additional 40,000 shares during the period. State of Tennessee Treasury Department owned 0.07% of National Retail Properties worth $4,371,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Meridian Wealth Management LLC raised its position in National Retail Properties by 0.5% in the 2nd quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 27 shares during the last quarter. IHT Wealth Management LLC raised its position in National Retail Properties by 1.0% in the 1st quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 28 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in National Retail Properties by 0.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,731 shares of the real estate investment trust’s stock worth $1,397,000 after purchasing an additional 144 shares during the last quarter. World Asset Management Inc raised its position in National Retail Properties by 1.7% in the 1st quarter. World Asset Management Inc now owns 11,207 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 184 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in National Retail Properties by 0.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 34,490 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

National Retail Properties (NYSE NNN) opened at 42.58 on Wednesday. The company has a market cap of $6.35 billion, a PE ratio of 31.99 and a beta of 0.36. National Retail Properties has a 52-week low of $36.45 and a 52-week high of $52.27. The company has a 50-day moving average of $40.99 and a 200 day moving average of $41.08.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.29). The company had revenue of $145.55 million during the quarter, compared to the consensus estimate of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. National Retail Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Equities research analysts predict that National Retail Properties will post $1.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a $0.475 dividend. This is an increase from National Retail Properties’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, July 27th. This represents a $1.90 annualized dividend and a yield of 4.46%. National Retail Properties’s dividend payout ratio is presently 142.86%.

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Several research analysts recently weighed in on the stock. Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Monday. FBR & Co restated a “buy” rating and issued a $52.00 price objective on shares of National Retail Properties in a research report on Thursday, September 7th. Zacks Investment Research cut shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. National Retail Properties has an average rating of “Hold” and a consensus price target of $45.86.

In related news, CFO Kevin B. Habicht sold 23,499 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $40.45, for a total value of $950,534.55. Following the completion of the transaction, the chief financial officer now owns 146,386 shares of the company’s stock, valued at approximately $5,921,313.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.28, for a total transaction of $80,560.00. Following the completion of the transaction, the executive vice president now directly owns 21,267 shares of the company’s stock, valued at approximately $856,634.76. The disclosure for this sale can be found here. In the last three months, insiders sold 52,912 shares of company stock valued at $2,164,138. 1.03% of the stock is owned by insiders.

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

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