Retirement Systems of Alabama grew its stake in National Retail Properties, Inc. (NYSE:NNN) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,879 shares of the real estate investment trust’s stock after buying an additional 3,662 shares during the period. Retirement Systems of Alabama owned 0.13% of National Retail Properties worth $9,093,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NNN. GW Henssler & Associates Ltd. acquired a new stake in National Retail Properties during the third quarter valued at $251,000. Xact Kapitalforvaltning AB grew its position in National Retail Properties by 31.4% during the third quarter. Xact Kapitalforvaltning AB now owns 31,918 shares of the real estate investment trust’s stock valued at $1,431,000 after buying an additional 7,632 shares during the period. First Quadrant L P CA acquired a new stake in National Retail Properties during the third quarter valued at $381,000. RMR Advisors LLC grew its position in National Retail Properties by 9.6% during the third quarter. RMR Advisors LLC now owns 136,600 shares of the real estate investment trust’s stock valued at $6,122,000 after buying an additional 12,000 shares during the period. Finally, IFM Investors Pty Ltd acquired a new stake in National Retail Properties during the third quarter valued at $223,000. 90.81% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE NNN opened at $47.06 on Friday. National Retail Properties, Inc. has a 52-week low of $36.25 and a 52-week high of $48.08. The stock has a market capitalization of $7.47 billion, a PE ratio of 18.53, a P/E/G ratio of 3.85 and a beta of 0.17. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.78.
National Retail Properties (NYSE:NNN) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.26). National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The company had revenue of $155.50 million during the quarter, compared to analyst estimates of $154.12 million. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts predict that National Retail Properties, Inc. will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.25%. National Retail Properties’s dividend payout ratio (DPR) is 78.74%.
Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research lowered shares of National Retail Properties from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Co set a $50.00 target price on shares of National Retail Properties and gave the company a “buy” rating in a research report on Tuesday, September 4th. Janney Montgomery Scott lowered shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research report on Monday, August 6th. Finally, Citigroup lifted their target price on shares of National Retail Properties from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.86.
In other news, insider Christopher Paul Tessitore sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total value of $459,900.00. Following the transaction, the insider now directly owns 108,686 shares of the company’s stock, valued at $4,998,469.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin B. Habicht sold 16,805 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $45.73, for a total transaction of $768,492.65. Following the completion of the transaction, the chief financial officer now directly owns 121,187 shares in the company, valued at $5,541,881.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,935 shares of company stock worth $2,431,940. Insiders own 1.03% of the company’s stock.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.
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