Legal & General Group Plc Boosts Stake in National Retail Properties, Inc. (NNN)

Legal & General Group Plc increased its holdings in National Retail Properties, Inc. (NYSE:NNN) by 15.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 756,353 shares of the real estate investment trust’s stock after buying an additional 100,524 shares during the period. Legal & General Group Plc owned about 0.49% of National Retail Properties worth $29,695,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of National Retail Properties by 3.3% in the 1st quarter. BlackRock Inc. now owns 20,725,775 shares of the real estate investment trust’s stock valued at $813,695,000 after buying an additional 652,875 shares during the period. Victory Capital Management Inc. boosted its stake in National Retail Properties by 16.8% during the 1st quarter. Victory Capital Management Inc. now owns 5,325,651 shares of the real estate investment trust’s stock valued at $209,085,000 after purchasing an additional 767,600 shares during the period. Daiwa Securities Group Inc. boosted its stake in National Retail Properties by 43.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,253,348 shares of the real estate investment trust’s stock valued at $166,986,000 after purchasing an additional 1,281,327 shares during the period. JPMorgan Chase & Co. boosted its stake in National Retail Properties by 1.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,843,070 shares of the real estate investment trust’s stock valued at $150,879,000 after purchasing an additional 64,552 shares during the period. Finally, Northern Trust Corp boosted its stake in National Retail Properties by 4.7% during the 1st quarter. Northern Trust Corp now owns 2,281,634 shares of the real estate investment trust’s stock valued at $89,576,000 after purchasing an additional 103,122 shares during the period. 90.85% of the stock is owned by institutional investors and hedge funds.

In other National Retail Properties news, CFO Kevin B. Habicht sold 22,287 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $41.84, for a total transaction of $932,488.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 8,000 shares of the business’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $39.09, for a total transaction of $312,720.00. Following the sale, the executive vice president now owns 94,433 shares in the company, valued at $3,691,385.97. The disclosure for this sale can be found here. Insiders have sold a total of 73,666 shares of company stock worth $3,003,168 over the last 90 days. 1.03% of the stock is owned by insiders.

NNN has been the subject of a number of analyst reports. B. Riley reissued a “buy” rating and set a $47.00 target price on shares of National Retail Properties in a research note on Monday, March 12th. Capital One Financial lowered shares of National Retail Properties from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, May 1st. Zacks Investment Research lowered shares of National Retail Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, TheStreet raised shares of National Retail Properties from a “c+” rating to a “b-” rating in a research note on Wednesday, April 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.17.

National Retail Properties stock opened at $43.96 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.82. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 3.42 and a beta of 0.31. National Retail Properties, Inc. has a 52-week low of $36.25 and a 52-week high of $44.13.

National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). National Retail Properties had a net margin of 49.40% and a return on equity of 9.33%. The firm had revenue of $152.80 million for the quarter, compared to analyst estimates of $152.56 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. equities analysts forecast that National Retail Properties, Inc. will post 2.66 EPS for the current fiscal year.

National Retail Properties Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2018, the company owned 2,800 properties in 48 states with a gross leasable area of approximately 29.1 million square feet and with a weighted average remaining lease term of 11.4 years.

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

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