National Retail Properties, Inc. (NYSE:NNN) Holdings Increased by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC raised its holdings in shares of National Retail Properties, Inc. (NYSE:NNN) by 9.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,965 shares of the real estate investment trust’s stock after purchasing an additional 19,622 shares during the period. Parametric Portfolio Associates LLC’s holdings in National Retail Properties were worth $12,239,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of NNN. Cornerstone Advisors Inc. raised its holdings 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 during the last quarter. Pearl River Capital LLC bought a new stake in National Retail Properties during the 1st quarter worth about $34,000. Next Capital Management LLC bought a new stake in National Retail Properties during the 1st quarter worth about $51,000. Cutler Group LP raised its holdings 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 during the last quarter. Finally, CWM LLC raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.
In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $54.18, for a total transaction of $65,016.00. Following the completion of the transaction, the executive vice president now owns 35,654 shares of the company’s stock, valued at approximately $1,931,733.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Paul Tessitore sold 2,550 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 48,392 shares of company stock valued at $2,492,523 over the last quarter. 0.70% of the stock is owned by insiders.
National Retail Properties (NYSE:NNN) last issued 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). National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The business had revenue of $163.71 million during the quarter, compared to analyst estimates of $161.34 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. National Retail Properties’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that National Retail Properties, Inc. will post 2.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a $0.50 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.00 annualized dividend and a dividend yield of 3.64%. National Retail Properties’s dividend payout ratio is presently 74.63%.
Several analysts have weighed in on the company. Zacks Investment Research raised National Retail Properties from a “sell” rating to a “hold” rating and set a $59.00 price objective for the company in a report on Friday, May 3rd. Raymond James set a $57.00 price target on National Retail Properties and gave the company a “hold” rating in a research note on Monday, May 20th. Finally, B. Riley cut National Retail Properties from a “buy” rating to a “neutral” rating and upped their price target for the company from $50.00 to $55.00 in a research note on Wednesday, February 13th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. National Retail Properties currently has an average rating of “Hold” and an average target price of $51.43.
National Retail Properties Company 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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