Geode Capital Management LLC grew its stake in National Retail Properties, Inc. (NYSE:NNN) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,351,016 shares of the real estate investment trust’s stock after acquiring an additional 96,265 shares during the quarter. Geode Capital Management LLC owned about 0.89% of National Retail Properties worth $58,244,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in NNN. BlackRock Inc. increased its holdings in shares of National Retail Properties by 8.5% in the 4th quarter. BlackRock Inc. now owns 20,072,900 shares of the real estate investment trust’s stock valued at $865,742,000 after acquiring an additional 1,580,677 shares during the period. Victory Capital Management Inc. grew its stake in National Retail Properties by 13.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,558,051 shares of the real estate investment trust’s stock worth $196,589,000 after buying an additional 532,589 shares during the last quarter. Green Street Investors LLC purchased a new position in National Retail Properties during the 4th quarter worth $11,951,000. Wells Fargo & Company MN grew its stake in National Retail Properties by 14.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,143,861 shares of the real estate investment trust’s stock worth $89,314,000 after buying an additional 276,823 shares during the last quarter. Finally, AGF Investments Inc. grew its stake in National Retail Properties by 40.9% during the 3rd quarter. AGF Investments Inc. now owns 755,688 shares of the real estate investment trust’s stock worth $31,482,000 after buying an additional 219,480 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
NNN stock traded down $0.16 on Friday, hitting $39.36. 790,461 shares of the company’s stock were exchanged, compared to its average volume of 893,834. National Retail Properties, Inc. has a 12-month low of $36.25 and a 12-month high of $45.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $6,082.03, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 3.10 and a beta of 0.27.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.01). The firm had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $148.46 million. National Retail Properties had a net margin of 45.30% and a return on equity of 8.52%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. equities research analysts anticipate that National Retail Properties, Inc. will post 2.64 earnings per share for the current year.
NNN has been the topic of several research analyst reports. Ladenburg Thalmann set a $47.00 target price on National Retail Properties and gave the stock a “buy” rating in a research note on Wednesday, January 24th. TheStreet downgraded National Retail Properties from a “b” rating to a “c+” rating in a research note on Wednesday, February 7th. Finally, B. Riley set a $47.00 target price on National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.50.
In other National Retail Properties news, EVP Stephen A. Horn, Jr. sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $37.64, for a total transaction of $451,680.00. Following the sale, the executive vice president now owns 102,433 shares in the company, valued at approximately $3,855,578.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.03% of the stock is currently owned by insiders.
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National Retail Properties Company Profile
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.
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