Zimmer Partners LP Acquires Shares of 1,350,000 National Retail Properties, Inc. (NNN)

Zimmer Partners LP bought a new stake in National Retail Properties, Inc. (NYSE:NNN) in the fourth quarter, Holdings Channel reports. The firm bought 1,350,000 shares of the real estate investment trust’s stock, valued at approximately $65,489,000. National Retail Properties comprises 0.9% of Zimmer Partners LP’s holdings, making the stock its 29th largest holding.

Other institutional investors have also made changes to their positions in the company. Cutler Group LP boosted its position in shares of National Retail Properties by 384.4% in the fourth quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 738 shares during the period. ERTS Wealth Advisors LLC bought a new stake in shares of National Retail Properties in the fourth quarter valued at about $69,000. Capital Investment Advisory Services LLC bought a new stake in shares of National Retail Properties in the fourth quarter valued at about $94,000. Brand Asset Management Group Inc. bought a new stake in shares of National Retail Properties in the fourth quarter valued at about $107,000. Finally, Bessemer Group Inc. boosted its position in shares of National Retail Properties by 200.0% in the fourth quarter. Bessemer Group Inc. now owns 2,250 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 1,500 shares during the period. 89.29% of the stock is owned by institutional investors.

NNN stock traded down $0.08 during midday trading on Wednesday, reaching $52.37. The company had a trading volume of 12,630 shares, compared to its average volume of 801,076. The company has a market cap of $8.48 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 4.35 and a beta of 0.27. National Retail Properties, Inc. has a 1-year low of $36.95 and a 1-year high of $54.56. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.81.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.46). The company had revenue of $158.83 million during the quarter, compared to analyst estimates of $157.82 million. National Retail Properties had a net margin of 46.97% and a return on equity of 8.63%. On average, analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current fiscal year.

NNN has been the subject of a number of recent research reports. Royal Bank of Canada cut shares of National Retail Properties from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 14th. Raymond James raised shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. LADENBURG THALM/SH SH cut shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research report on Monday, February 11th. B. Riley cut shares of National Retail Properties from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $55.00 in a research report on Wednesday, February 13th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of National Retail Properties in a research report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.33.

In related news, CEO Julian E. Whitehurst sold 34,045 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $52.64, for a total value of $1,792,128.80. Following the completion of the transaction, the chief executive officer now owns 384,788 shares of the company’s stock, valued at $20,255,240.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin B. Habicht sold 19,641 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $52.08, for a total value of $1,022,903.28. Following the completion of the transaction, the chief financial officer now directly owns 136,502 shares of the company’s stock, valued at approximately $7,109,024.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,431 shares of company stock valued at $4,678,142. 0.78% of the stock is owned by insiders.

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About National Retail Properties

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.

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

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