Steward Partners Investment Advisory LLC Makes New Investment in National Retail Properties, Inc. (NYSE:NNN)

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Steward Partners Investment Advisory LLC bought a new position in National Retail Properties, Inc. (NYSE:NNN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,585 shares of the real estate investment trust’s stock, valued at approximately $243,000.

A number of other hedge funds have also added to or reduced their stakes in NNN. Arizona State Retirement System lifted its holdings in shares of National Retail Properties by 1.7% during the second quarter. Arizona State Retirement System now owns 118,069 shares of the real estate investment trust’s stock worth $6,259,000 after purchasing an additional 2,018 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of National Retail Properties during the second quarter worth about $370,000. State of Alaska Department of Revenue lifted its holdings in shares of National Retail Properties by 16.1% during the second quarter. State of Alaska Department of Revenue now owns 80,544 shares of the real estate investment trust’s stock worth $4,268,000 after purchasing an additional 11,165 shares during the period. JJJ Advisors Inc. acquired a new stake in shares of National Retail Properties during the second quarter worth about $31,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of National Retail Properties by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 109,031 shares of the real estate investment trust’s stock worth $5,779,000 after purchasing an additional 1,789 shares during the period. Institutional investors and hedge funds own 89.65% of the company’s stock.

A number of research firms recently commented on NNN. Raymond James set a $57.00 target price on National Retail Properties and gave the stock a “hold” rating in a report on Monday, May 20th. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. ValuEngine downgraded National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $53.00.

In other news, insider Christopher Paul Tessitore sold 2,550 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total value of $65,509.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the sale, the executive vice president now owns 34,154 shares of the company’s stock, valued at $1,875,396.14. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Shares of NYSE:NNN opened at $54.82 on Wednesday. The firm has a market capitalization of $9.01 billion, a P/E ratio of 20.46, a PEG ratio of 5.91 and a beta of 0.16. National Retail Properties, Inc. has a 12-month low of $42.97 and a 12-month high of $55.97. The firm has a 50 day moving average of $53.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). The business had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $163.73 million. National Retail Properties had a net margin of 43.14% and a return on equity of 7.88%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. On average, equities research analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $0.515 dividend. The ex-dividend date is Tuesday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.76%. National Retail Properties’s payout ratio is 76.87%.

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

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