Sei Investments Co. reduced its stake in shares of National Retail Properties (NYSE:NNN) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,170 shares of the real estate investment trust’s stock after selling 4,515 shares during the quarter. Sei Investments Co.’s holdings in National Retail Properties were worth $2,340,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in National Retail Properties by 82.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 1,632 shares during the last quarter. BB&T Investment Services Inc. bought a new position in National Retail Properties in the second quarter valued at approximately $212,000. Raymond James Trust N.A. bought a new position in National Retail Properties in the third quarter valued at approximately $231,000. Cutter & CO Brokerage Inc. bought a new position in National Retail Properties in the second quarter valued at approximately $254,000. Finally, Csenge Advisory Group bought a new position in National Retail Properties in the third quarter valued at approximately $286,000. 90.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating on shares of National Retail Properties in a research note on Friday, November 3rd. Zacks Investment Research cut shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 price objective on shares of National Retail Properties in a research note on Friday, October 20th. Ladenburg Thalmann Financial Services raised shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Monday, September 11th. Finally, UBS raised shares of National Retail Properties from a “sell” rating to a “neutral” rating and raised their price objective for the company from $36.00 to $42.00 in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.71.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $147.71 million for the quarter, compared to analysts’ expectations of $146.57 million. National Retail Properties had a net margin of 44.96% and a return on equity of 8.47%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. analysts forecast that National Retail Properties will post 2.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.55%. National Retail Properties’s dividend payout ratio is 135.72%.
National Retail Properties Profile
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.
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