Cubist Systematic Strategies LLC bought a new stake in National Retail Properties, Inc. (NYSE:NNN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,312 shares of the real estate investment trust’s stock, valued at approximately $981,000.

Other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC lifted its position in National Retail Properties by 119.6% during the second quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,346 shares during the period. Asset Advisors Corp purchased a new position in shares of National Retail Properties in the 2nd quarter worth about $110,000. Gradient Investments LLC raised its holdings in shares of National Retail Properties by 7,526.0% in the 2nd quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 3,763 shares during the period. Independent Advisor Alliance purchased a new position in shares of National Retail Properties in the 2nd quarter worth about $220,000. Finally, NumerixS Investment Technologies Inc raised its holdings in shares of National Retail Properties by 29.5% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,700 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 1,299 shares during the period. 90.84% of the stock is currently owned by institutional investors.

In related news, insider Christopher Paul Tessitore sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $45.99, for a total transaction of $459,900.00. Following the transaction, the insider now directly owns 108,686 shares in the company, valued at $4,998,469.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julian E. Whitehurst sold 26,130 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $46.06, for a total value of $1,203,547.80. Following the transaction, the chief executive officer now owns 329,403 shares in the company, valued at $15,172,302.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,685 shares of company stock valued at $2,511,863. Insiders own 0.78% of the company’s stock.

A number of research firms have recently issued reports on NNN. LADENBURG THALM/SH SH set a $48.00 price objective on National Retail Properties and gave the company a “buy” rating in a research note on Wednesday, September 26th. Stifel Nicolaus lifted their target price on National Retail Properties from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Wells Fargo & Co set a $50.00 price target on National Retail Properties and gave the stock a “buy” rating in a report on Tuesday, September 4th. Janney Montgomery Scott downgraded National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Finally, Citigroup raised their price target on National Retail Properties from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $46.75.

Shares of NNN traded up $0.02 during midday trading on Friday, reaching $43.26. The stock had a trading volume of 1,066,148 shares, compared to its average volume of 1,033,181. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $7.04 billion, a PE ratio of 17.03, a P/E/G ratio of 3.63 and a beta of 0.18. National Retail Properties, Inc. has a 52 week low of $36.25 and a 52 week high of $46.44.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.26). The firm had revenue of $155.50 million for the quarter, compared to analyst estimates of $154.12 million. National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. National Retail Properties’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, equities research analysts forecast that National Retail Properties, Inc. will post 2.68 EPS for the current fiscal year.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

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

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