National Retail Properties, Inc. (NNN) Position Trimmed by Credit Suisse AG

Credit Suisse AG reduced its stake in National Retail Properties, Inc. (NYSE:NNN) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,035 shares of the real estate investment trust’s stock after selling 27,171 shares during the quarter. Credit Suisse AG owned about 0.34% of National Retail Properties worth $24,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in NNN. Victory Capital Management Inc. raised its stake in National Retail Properties by 24.1% in the second quarter. Victory Capital Management Inc. now owns 6,607,851 shares of the real estate investment trust’s stock valued at $290,482,000 after purchasing an additional 1,282,200 shares in the last quarter. BlackRock Inc. raised its stake in National Retail Properties by 4.0% in the second quarter. BlackRock Inc. now owns 21,558,636 shares of the real estate investment trust’s stock valued at $947,718,000 after purchasing an additional 832,861 shares in the last quarter. JPMorgan Chase & Co. raised its stake in National Retail Properties by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 4,694,518 shares of the real estate investment trust’s stock valued at $210,409,000 after purchasing an additional 509,019 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in National Retail Properties in the third quarter valued at approximately $22,571,000. Finally, Russell Investments Group Ltd. raised its stake in National Retail Properties by 366.4% in the second quarter. Russell Investments Group Ltd. now owns 433,746 shares of the real estate investment trust’s stock valued at $19,071,000 after purchasing an additional 340,740 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on NNN. Zacks Investment Research downgraded shares of National Retail Properties from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Janney Montgomery Scott downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, August 6th. LADENBURG THALM/SH SH set a $48.00 target price on shares of National Retail Properties and gave the company a “buy” rating in a research note on Wednesday, September 26th. B. Riley raised their target price on shares of National Retail Properties from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, Stifel Nicolaus raised their target price on shares of National Retail Properties from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 10,000 shares of National Retail Properties stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total transaction of $459,900.00. Following the transaction, the insider now directly owns 108,686 shares of the company’s stock, valued at $4,998,469.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Eugene Bayer sold 4,509 shares of National Retail Properties stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $49.58, for a total transaction of $223,556.22. Following the transaction, the insider now directly owns 127,621 shares in the company, valued at $6,327,449.18. The disclosure for this sale can be found here. Insiders have sold 26,109 shares of company stock worth $1,251,836 over the last three months. Insiders own 1.03% of the company’s stock.

NNN stock opened at $50.06 on Friday. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 4.02 and a beta of 0.03. National Retail Properties, Inc. has a one year low of $36.25 and a one year high of $50.19. The company has a current ratio of 18.01, a quick ratio of 18.01 and a debt-to-equity ratio of 0.91.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.20). The business had revenue of $155.33 million for the quarter, compared to analysts’ expectations of $156.04 million. National Retail Properties had a return on equity of 9.91% and a net margin of 53.44%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. On average, analysts anticipate that National Retail Properties, Inc. will post 2.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Tuesday, October 30th. National Retail Properties’s dividend payout ratio (DPR) is presently 78.74%.

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National Retail Properties Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

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

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