Baird Financial Group Inc. Reduces Holdings in National Retail Properties, Inc. (NYSE:NNN)

Baird Financial Group Inc. lowered its position in National Retail Properties, Inc. (NYSE:NNNGet Rating) by 16.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,100 shares of the real estate investment trust’s stock after selling 4,869 shares during the period. Baird Financial Group Inc.’s holdings in National Retail Properties were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its position in shares of National Retail Properties by 23.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 324,140 shares of the real estate investment trust’s stock valued at $17,955,000 after purchasing an additional 61,130 shares in the last quarter. Morgan Stanley boosted its stake in National Retail Properties by 16.0% during the second quarter. Morgan Stanley now owns 943,093 shares of the real estate investment trust’s stock worth $44,212,000 after buying an additional 130,339 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in National Retail Properties by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,449 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 751 shares in the last quarter. JustInvest LLC increased its stake in shares of National Retail Properties by 22.6% in the 3rd quarter. JustInvest LLC now owns 7,022 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of National Retail Properties by 44.5% during the 3rd quarter. Barclays PLC now owns 274,040 shares of the real estate investment trust’s stock worth $11,835,000 after acquiring an additional 84,405 shares during the period. 88.31% of the stock is currently owned by institutional investors.

Shares of National Retail Properties stock opened at $43.48 on Friday. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50-day moving average of $44.58 and a 200 day moving average of $44.95. National Retail Properties, Inc. has a 12 month low of $40.65 and a 12 month high of $50.33.

National Retail Properties (NYSE:NNNGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $190.28 million during the quarter, compared to analyst estimates of $186.63 million. National Retail Properties had a net margin of 42.73% and a return on equity of 8.05%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. Equities research analysts anticipate that National Retail Properties, Inc. will post 3.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 29th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $2.12 annualized dividend and a dividend yield of 4.88%. National Retail Properties’s dividend payout ratio (DPR) is 126.95%.

A number of equities analysts have commented on NNN shares. Zacks Investment Research raised shares of National Retail Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. StockNews.com cut National Retail Properties from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America lowered National Retail Properties from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $52.00 to $47.00 in a research report on Thursday, January 20th. Stifel Nicolaus reduced their target price on National Retail Properties from $56.00 to $53.00 in a research report on Tuesday, May 3rd. Finally, Raymond James lowered their price target on National Retail Properties from $55.00 to $50.00 and set a “strong-buy” rating for the company in a report on Thursday, February 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.90.

National Retail Properties Profile (Get Rating)

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

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

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