Northern Trust Corp lessened its stake in National Retail Properties, Inc. (NYSE:NNN) by 3.6% in the 1st quarter, Holdings Channel reports. The firm owned 2,060,396 shares of the real estate investment trust’s stock after selling 77,613 shares during the quarter. Northern Trust Corp’s holdings in National Retail Properties were worth $114,126,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of NNN. Vanguard Group Inc raised its holdings in National Retail Properties by 1.5% in the third quarter. Vanguard Group Inc now owns 22,827,899 shares of the real estate investment trust’s stock worth $1,023,146,000 after purchasing an additional 338,993 shares during the period. Chicago Equity Partners LLC raised its holdings in National Retail Properties by 59.5% in the fourth quarter. Chicago Equity Partners LLC now owns 11,325 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 4,225 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in National Retail Properties by 2.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 31,632 shares of the real estate investment trust’s stock worth $1,534,000 after purchasing an additional 613 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in National Retail Properties by 5,766.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,965,502 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 6,846,768 shares during the period. Finally, WINTON GROUP Ltd raised its holdings in National Retail Properties by 51.7% in the fourth quarter. WINTON GROUP Ltd now owns 400,651 shares of the real estate investment trust’s stock worth $19,436,000 after purchasing an additional 136,543 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.
Shares of NNN stock opened at $55.10 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.81. National Retail Properties, Inc. has a 12-month low of $41.67 and a 12-month high of $55.87. The firm has a market cap of $8.98 billion, a PE ratio of 20.56, a P/E/G ratio of 4.67 and a beta of 0.22.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.23). National Retail Properties had a return on equity of 7.78% and a net margin of 42.49%. The company had revenue of $163.71 million for the quarter, compared to the consensus estimate of $161.34 million. During the same period in the prior year, the company earned $0.67 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, research analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, April 29th. National Retail Properties’s dividend payout ratio is 74.63%.
In other National Retail Properties news, insider Christopher Paul Tessitore sold 2,550 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $25.69, for a total transaction of $65,509.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 1,200 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $54.18, for a total transaction of $65,016.00. Following the sale, the executive vice president now directly owns 35,654 shares in the company, valued at $1,931,733.72. The disclosure for this sale can be found here. Insiders have sold 48,392 shares of company stock valued at $2,492,523 in the last three months. 0.70% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the stock. Raymond James set a $57.00 price objective on shares of National Retail Properties and gave the stock a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research raised shares of National Retail Properties from a “sell” rating to a “hold” rating and set a $59.00 price objective for the company in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $51.43.
About National Retail Properties
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.
See Also: What is a conference call?
Want to see what other hedge funds are holding NNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Retail Properties, Inc. (NYSE:NNN).
Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.