Bank of Montreal Can Increases Stake in National Retail Properties, Inc. (NNN)

Bank of Montreal Can lifted its holdings in National Retail Properties, Inc. (NYSE:NNN) by 131.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 109,092 shares of the real estate investment trust’s stock after purchasing an additional 62,003 shares during the period. Bank of Montreal Can’s holdings in National Retail Properties were worth $4,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in shares of National Retail Properties by 1.5% in the 2nd quarter. State Street Corp now owns 12,427,839 shares of the real estate investment trust’s stock worth $485,929,000 after purchasing an additional 184,603 shares during the period. Victory Capital Management Inc. lifted its position in shares of National Retail Properties by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,025,462 shares of the real estate investment trust’s stock worth $167,700,000 after purchasing an additional 114,800 shares during the period. FMR LLC raised its stake in shares of National Retail Properties by 49.2% during the 2nd quarter. FMR LLC now owns 3,152,173 shares of the real estate investment trust’s stock worth $123,249,000 after acquiring an additional 1,039,236 shares in the last quarter. PGGM Investments raised its stake in shares of National Retail Properties by 4.9% during the 3rd quarter. PGGM Investments now owns 3,090,029 shares of the real estate investment trust’s stock worth $128,731,000 after acquiring an additional 143,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of National Retail Properties by 14.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,143,861 shares of the real estate investment trust’s stock worth $89,314,000 after acquiring an additional 276,823 shares in the last quarter. 90.06% of the stock is owned by hedge funds and other institutional investors.

National Retail Properties, Inc. (NYSE NNN) opened at $38.55 on Monday. 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 company has a market cap of $5,861.64, a P/E ratio of 27.54, a P/E/G ratio of 3.03 and a beta of 0.28. National Retail Properties, Inc. has a 52 week low of $36.45 and a 52 week high of $46.34.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.90 annualized dividend and a dividend yield of 4.93%. National Retail Properties’s dividend payout ratio (DPR) is presently 135.72%.

In other National Retail Properties news, CFO Kevin B. Habicht sold 20,664 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $42.60, for a total transaction of $880,286.40. Following the transaction, the chief financial officer now owns 125,722 shares in the company, valued at approximately $5,355,757.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle Lynn Miller sold 750 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $43.03, for a total transaction of $32,272.50. Following the transaction, the executive vice president now owns 20,517 shares in the company, valued at approximately $882,846.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,414 shares of company stock valued at $919,559. 1.03% of the stock is currently owned by company insiders.

Several research analysts recently commented on the stock. Ladenburg Thalmann Financial Services set a $47.00 price objective on shares of National Retail Properties and gave the stock a “buy” rating in a research note on Wednesday, January 24th. B. Riley set a $52.00 price objective on shares of National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, November 14th. UBS Group upgraded shares of National Retail Properties from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $36.00 to $42.00 in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Robert W. Baird reiterated a “buy” rating and set a $46.00 price objective on shares of National Retail Properties in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $47.67.

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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.

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

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