Crossmark Global Holdings Inc. acquired a new stake in National Retail Properties (NYSE:NNN) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,689 shares of the real estate investment trust’s stock, valued at approximately $695,000.
Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of National Retail Properties by 82.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 1,632 shares in the last quarter. BB&T Investment Services Inc. bought a new position in shares of National Retail Properties in the 2nd quarter valued at approximately $212,000. Raymond James Trust N.A. bought a new position in shares of National Retail Properties in the 3rd quarter valued at approximately $231,000. Meridian Wealth Management LLC raised its stake in shares of National Retail Properties by 0.5% in the 2nd quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 27 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. bought a new position in shares of National Retail Properties in the 2nd quarter valued at approximately $254,000. 87.57% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on NNN shares. B. Riley set a $52.00 target price on National Retail Properties and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. UBS AG raised National Retail Properties from a “sell” rating to a “neutral” rating and raised their target price for the company from $36.00 to $42.00 in a report on Thursday, November 9th. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 target price on shares of National Retail Properties in a report on Friday, October 20th. Finally, Ladenburg Thalmann Financial Services raised National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $47.71.
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Shares of National Retail Properties (NYSE:NNN) opened at $42.53 on Wednesday. The stock has a market capitalization of $6,469.87, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40. 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 has a fifty-two week low of $36.45 and a fifty-two week high of $46.34.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings data 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 return on equity of 8.47% and a net margin of 44.96%. The company had revenue of $147.71 million for the quarter, compared to analyst estimates of $146.57 million. During the same quarter last year, the firm earned $0.61 EPS. National Retail Properties’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities research analysts forecast that National Retail Properties will post 2.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, October 30th. National Retail Properties’s payout ratio is presently 135.72%.
In other news, insider Julian E. Whitehurst sold 17,413 shares of National Retail Properties stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $41.46, for a total transaction of $721,942.98. Following the sale, the insider now owns 294,826 shares of the company’s stock, valued at approximately $12,223,485.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 10,000 shares of National Retail Properties stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $41.11, for a total value of $411,100.00. Following the sale, the executive vice president now directly owns 90,462 shares in the company, valued at approximately $3,718,892.82. The disclosure for this sale can be found here. Insiders have sold a total of 827,413 shares of company stock worth $1,168,043 in the last three months. 1.03% of the stock is owned by insiders.
National Retail Properties 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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