National Retail Properties, Inc. (NNN) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in National Retail Properties, Inc. (NYSE:NNN) by 8.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 260,101 shares of the real estate investment trust’s stock after selling 25,400 shares during the period. California State Teachers Retirement System owned about 0.17% of National Retail Properties worth $10,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in National Retail Properties by 82.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 1,632 shares during the last quarter. Timber Hill LLC bought a new stake in National Retail Properties in the 3rd quarter worth approximately $212,000. BB&T Investment Services Inc. bought a new stake in National Retail Properties in the 2nd quarter worth approximately $212,000. Raymond James Trust N.A. bought a new stake in National Retail Properties in the 3rd quarter worth approximately $231,000. Finally, CIBC Asset Management Inc bought a new stake in National Retail Properties in the 3rd quarter worth approximately $236,000. Institutional investors own 90.50% of the company’s stock.

A number of equities research analysts have commented on the stock. B. Riley reaffirmed a “buy” rating on shares of National Retail Properties in a research report on Friday, November 3rd. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of National Retail Properties in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, October 11th. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 target price on shares of National Retail Properties in a research report on Friday, October 20th. Finally, FBR & Co reissued a “buy” rating and set a $52.00 price objective on shares of National Retail Properties in a research report on Thursday, September 7th. One research 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 presently has an average rating of “Buy” and a consensus price target of $47.71.

Shares of National Retail Properties, Inc. (NNN) opened at $42.34 on Monday. National Retail Properties, Inc. has a 1 year low of $36.45 and a 1 year high of $46.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 7.66 and a current ratio of 7.66. The stock has a market cap of $6,510.00, a price-to-earnings ratio of 34.70, a PEG ratio of 3.44 and a beta of 0.39.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. National Retail Properties had a net margin of 44.96% and a return on equity of 8.47%. The firm had revenue of $147.71 million during the quarter, compared to the consensus estimate of $146.57 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. sell-side analysts forecast that National Retail Properties, Inc. will post 2.53 earnings per share for the current year.

In related news, EVP Michelle Lynn Miller sold 750 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.03, for a total value of $32,272.50. Following the completion of the transaction, the executive vice president now owns 20,517 shares of the company’s stock, valued at approximately $882,846.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin B. Habicht sold 20,664 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $42.60, for a total transaction of $880,286.40. Following the completion of the transaction, the chief financial officer now directly owns 125,722 shares of the company’s stock, valued at approximately $5,355,757.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 821,414 shares of company stock valued at $947,559. Insiders own 1.03% of the company’s stock.

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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.

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

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