Manning & Napier Group LLC Purchases 32,290 Shares of National Retail Properties, Inc. (NYSE:NNN)

Manning & Napier Group LLC raised its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 46.7% during the third quarter, HoldingsChannel.com reports. The fund owned 101,485 shares of the real estate investment trust’s stock after buying an additional 32,290 shares during the quarter. Manning & Napier Group LLC’s holdings in National Retail Properties were worth $5,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Denali Advisors LLC bought a new stake in National Retail Properties during the third quarter valued at $3,288,000. First Financial Bank Trust Division boosted its position in National Retail Properties by 3.4% during the third quarter. First Financial Bank Trust Division now owns 118,223 shares of the real estate investment trust’s stock valued at $6,668,000 after acquiring an additional 3,834 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of National Retail Properties by 21.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 70,119 shares of the real estate investment trust’s stock valued at $3,717,000 after purchasing an additional 12,204 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of National Retail Properties by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 82,258 shares of the real estate investment trust’s stock valued at $4,360,000 after purchasing an additional 1,640 shares during the period. Finally, Natixis raised its holdings in shares of National Retail Properties by 29.0% during the second quarter. Natixis now owns 5,844 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 1,314 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NNN opened at $56.87 on Friday. The firm’s 50-day moving average price is $55.80 and its 200-day moving average price is $54.13. National Retail Properties, Inc. has a 1-year low of $42.97 and a 1-year high of $57.80. The firm has a market capitalization of $9.30 billion, a P/E ratio of 21.22, a P/E/G ratio of 6.68 and a beta of 0.10. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.81.

National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.25). National Retail Properties had a net margin of 43.14% and a return on equity of 7.88%. The company had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. During the same quarter in the prior year, the company posted $0.68 EPS. National Retail Properties’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that National Retail Properties, Inc. will post 2.74 EPS for the current year.

In related news, EVP Michelle Lynn Miller sold 1,700 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $55.44, for a total value of $94,248.00. Following the sale, the executive vice president now owns 39,454 shares in the company, valued at approximately $2,187,329.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

NNN has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of National Retail Properties in a report on Thursday. They set a “buy” rating and a $75.00 price objective on the stock. ValuEngine lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Co set a $62.00 price objective on shares of National Retail Properties and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley upped their price objective on shares of National Retail Properties from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.29.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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

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