BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 27,816 Shares of National Retail Properties, Inc. (NNN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 25.5% in the 4th quarter, Holdings Channel reports. The firm owned 81,106 shares of the real estate investment trust’s stock after selling 27,816 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in National Retail Properties were worth $3,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NNN. Raymond James Trust N.A. lifted its holdings in National Retail Properties by 4.1% during the 4th quarter. Raymond James Trust N.A. now owns 7,886 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 309 shares during the last quarter. Albion Financial Group UT increased its stake in National Retail Properties by 2.5% during the 4th quarter. Albion Financial Group UT now owns 12,800 shares of the real estate investment trust’s stock worth $621,000 after acquiring an additional 315 shares during the period. GWM Advisors LLC increased its stake in National Retail Properties by 4.4% during the 4th quarter. GWM Advisors LLC now owns 8,311 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 351 shares during the period. Cigna Investments Inc. New increased its stake in National Retail Properties by 8.6% during the 4th quarter. Cigna Investments Inc. New now owns 4,687 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 372 shares during the period. Finally, BTR Capital Management Inc. increased its stake in National Retail Properties by 7.8% during the 4th quarter. BTR Capital Management Inc. now owns 6,900 shares of the real estate investment trust’s stock worth $335,000 after acquiring an additional 500 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the company. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Stifel Nicolaus restated a “buy” rating on shares of National Retail Properties in a research note on Monday, December 3rd. B. Riley lowered National Retail Properties from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $55.00 in a research note on Wednesday, February 13th. LADENBURG THALM/SH SH lowered National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Finally, Raymond James upgraded National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.33.

In related news, CEO Julian E. Whitehurst sold 34,045 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $52.64, for a total transaction of $1,792,128.80. Following the sale, the chief executive officer now owns 384,788 shares in the company, valued at approximately $20,255,240.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Paul Tessitore sold 23,000 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $52.19, for a total value of $1,200,370.00. Following the sale, the insider now owns 111,237 shares in the company, valued at approximately $5,805,459.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,431 shares of company stock worth $4,678,142. Corporate insiders own 0.78% of the company’s stock.

Shares of NNN opened at $53.43 on Friday. National Retail Properties, Inc. has a 52-week low of $36.95 and a 52-week high of $54.56. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.35 and a current ratio of 7.35. The firm has a market capitalization of $8.57 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.39 and a beta of 0.27.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.46). National Retail Properties had a net margin of 46.97% and a return on equity of 8.63%. The business had revenue of $158.83 million during the quarter, compared to the consensus estimate of $157.82 million. Equities research analysts expect that National Retail Properties, Inc. will post 2.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Thursday, January 31st were paid a $0.50 dividend. The ex-dividend date was Wednesday, January 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.74%. National Retail Properties’s payout ratio is 74.63%.

TRADEMARK VIOLATION WARNING: “BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 27,816 Shares of National Retail Properties, Inc. (NNN)” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://www.com-unik.info/2019/03/15/british-columbia-investment-management-corp-sells-27816-shares-of-national-retail-properties-inc-nnn.html.

National Retail Properties Company Profile

National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It also acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.

Recommended Story: Cost of Debt

Want to see what other hedge funds are holding NNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Retail Properties, Inc. (NYSE:NNN).

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

Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit