Vident Investment Advisory LLC Takes $287,000 Position in National Retail Properties, Inc. (NNN)

Vident Investment Advisory LLC purchased a new stake in shares of National Retail Properties, Inc. (NYSE:NNN) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,892 shares of the real estate investment trust’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NNN. FMR LLC lifted its holdings in shares of National Retail Properties by 49.2% in the second quarter. FMR LLC now owns 3,152,173 shares of the real estate investment trust’s stock worth $123,249,000 after buying an additional 1,039,236 shares in the last quarter. Victory Capital Management Inc. raised its stake in National Retail Properties by 35.3% during the second quarter. Victory Capital Management Inc. now owns 3,910,662 shares of the real estate investment trust’s stock valued at $152,907,000 after purchasing an additional 1,020,200 shares in the last quarter. BlackRock Inc. raised its stake in National Retail Properties by 5.2% during the second quarter. BlackRock Inc. now owns 18,622,086 shares of the real estate investment trust’s stock valued at $728,123,000 after purchasing an additional 928,820 shares in the last quarter. Alliancebernstein L.P. raised its stake in National Retail Properties by 195.3% during the second quarter. Alliancebernstein L.P. now owns 543,797 shares of the real estate investment trust’s stock valued at $21,262,000 after purchasing an additional 359,620 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in National Retail Properties by 14.8% during the third quarter. Wells Fargo & Company MN now owns 2,143,861 shares of the real estate investment trust’s stock valued at $89,314,000 after purchasing an additional 276,823 shares in the last quarter. 90.50% of the stock is owned by institutional investors.

A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, October 11th. Robert W. Baird restated a “buy” rating and issued a $46.00 price target on shares of National Retail Properties in a report on Friday, October 20th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of National Retail Properties in a report on Thursday, November 2nd. B. Riley restated a “buy” rating on shares of National Retail Properties in a report on Friday, November 3rd. Finally, UBS Group upgraded shares of National Retail Properties from a “sell” rating to a “neutral” rating and upped their price target for the stock from $36.00 to $42.00 in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $47.71.

In related news, CFO Kevin B. Habicht sold 20,664 shares of National Retail Properties stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $42.60, for a total value of $880,286.40. Following the sale, the chief financial officer now owns 125,722 shares of the company’s stock, valued at approximately $5,355,757.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michelle Lynn Miller sold 750 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.03, for a total value of $32,272.50. Following the completion of 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. Insiders have sold a total of 821,414 shares of company stock worth $947,559 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Shares of National Retail Properties, Inc. (NYSE:NNN) traded up $0.04 during trading on Thursday, hitting $40.41. 526,609 shares of the company traded hands, compared to its average volume of 715,476. The stock has a market cap of $6,140.00, a price-to-earnings ratio of 33.12, a P/E/G ratio of 3.26 and a beta of 0.39. The company has a quick ratio of 7.66, a current ratio of 7.66 and a debt-to-equity ratio of 0.86. National Retail Properties, Inc. has a 52-week low of $36.45 and a 52-week high of $46.34.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. National Retail Properties had a net margin of 44.96% and a return on equity of 8.47%. The company had revenue of $147.71 million for the quarter, compared to the consensus estimate of $146.57 million. During the same quarter in the prior year, the company earned $0.61 EPS. National Retail Properties’s quarterly revenue was up 9.8% on a year-over-year basis. analysts anticipate that National Retail Properties, Inc. will post 2.53 EPS for the current year.

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About National Retail Properties

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.

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

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