National Retail Properties (NNN) Stake Lifted by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its holdings in shares of National Retail Properties (NYSE:NNN) by 44.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,767 shares of the real estate investment trust’s stock after purchasing an additional 45,927 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.10% of National Retail Properties worth $5,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NNN. UBS Asset Management Americas Inc. grew its holdings in shares of National Retail Properties by 17.2% during the first quarter. UBS Asset Management Americas Inc. now owns 611,144 shares of the real estate investment trust’s stock worth $26,658,000 after purchasing an additional 89,830 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of National Retail Properties during the first quarter worth about $793,000. OppenheimerFunds Inc. grew its holdings in shares of National Retail Properties by 18.4% during the first quarter. OppenheimerFunds Inc. now owns 377,095 shares of the real estate investment trust’s stock worth $16,449,000 after purchasing an additional 58,536 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of National Retail Properties by 4.5% during the first quarter. Teachers Advisors LLC now owns 157,850 shares of the real estate investment trust’s stock worth $6,885,000 after purchasing an additional 6,749 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of National Retail Properties by 18.2% during the first quarter. Legal & General Group Plc now owns 529,567 shares of the real estate investment trust’s stock worth $23,100,000 after purchasing an additional 81,566 shares in the last quarter. 89.37% of the stock is owned by institutional investors.

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In other news, CFO Kevin B. Habicht sold 23,499 shares of National Retail Properties stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $40.45, for a total value of $950,534.55. Following the completion of the transaction, the chief financial officer now owns 146,386 shares in the company, valued at approximately $5,921,313.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Julian E. Whitehurst sold 17,413 shares of National Retail Properties stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $41.46, for a total value of $721,942.98. Following the completion of the transaction, the insider now owns 294,826 shares of the company’s stock, valued at approximately $12,223,485.96. The disclosure for this sale can be found here. Insiders have sold a total of 52,912 shares of company stock valued at $2,164,138 in the last 90 days. 1.03% of the stock is currently owned by company insiders.

National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.29). The firm had revenue of $145.55 million for the quarter, compared to analysts’ expectations of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS.

Several research analysts have recently commented on the company. BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday. FBR & Co reissued a “buy” rating and set a $52.00 price objective on shares of National Retail Properties in a report on Thursday, September 7th. Finally, Ladenburg Thalmann Financial Services raised National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $48.00.

About National Retail Properties

National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.

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

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