Sumitomo Mitsui Asset Management Company LTD grew its position in National Retail Properties, Inc. (NYSE:NNN) by 1,227.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,797 shares of the real estate investment trust’s stock after buying an additional 235,599 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in National Retail Properties were worth $14,113,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Advisors Inc. grew its stake in National Retail Properties by 170.8% during the 1st quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 292 shares in the last quarter. Pearl River Capital LLC acquired a new position in National Retail Properties during the 1st quarter worth $34,000. Next Capital Management LLC acquired a new position in National Retail Properties during the 1st quarter worth $51,000. Cutler Group LP grew its stake in National Retail Properties by 384.4% during the 4th quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 738 shares in the last quarter. Finally, CWM LLC grew its stake in National Retail Properties by 157.1% during the 1st quarter. CWM LLC now owns 990 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 605 shares in the last quarter. 88.18% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on NNN. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. B. Riley cut National Retail Properties from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $55.00 in a research note on Wednesday, February 13th. Finally, LADENBURG THALM/SH SH cut National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. National Retail Properties presently has an average rating of “Hold” and an average target price of $50.50.
Shares of NYSE:NNN traded up $0.21 on Thursday, hitting $53.63. 3,532 shares of the company’s stock were exchanged, compared to its average volume of 995,033. The stock has a market cap of $8.71 billion, a P/E ratio of 19.99, a P/E/G ratio of 4.50 and a beta of 0.24. National Retail Properties, Inc. has a 1-year low of $38.94 and a 1-year high of $55.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.35 and a current ratio of 2.35.
National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.23). The business had revenue of $163.71 million for the quarter, compared to analyst estimates of $161.34 million. National Retail Properties had a return on equity of 7.78% and a net margin of 42.49%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. On average, equities research analysts predict that National Retail Properties, Inc. will post 2.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.00 annualized dividend and a dividend yield of 3.73%. National Retail Properties’s dividend payout ratio is currently 74.63%.
National Retail Properties Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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