Manning & Napier Advisors LLC bought a new stake in National Retail Properties (NYSE:NNN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 105,855 shares of the real estate investment trust’s stock, valued at approximately $4,137,000. Manning & Napier Advisors LLC owned approximately 0.07% of National Retail Properties at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in NNN. Nationwide Fund Advisors increased its position in shares of National Retail Properties by 0.7% in the first quarter. Nationwide Fund Advisors now owns 245,824 shares of the real estate investment trust’s stock valued at $10,723,000 after buying an additional 1,618 shares during the last quarter. State of Alaska Department of Revenue boosted its position in National Retail Properties by 29.3% in the first quarter. State of Alaska Department of Revenue now owns 71,700 shares of the real estate investment trust’s stock valued at $3,127,000 after buying an additional 16,260 shares during the period. DnB Asset Management AS boosted its position in National Retail Properties by 37.2% in the first quarter. DnB Asset Management AS now owns 14,025 shares of the real estate investment trust’s stock valued at $612,000 after buying an additional 3,800 shares during the period. Pinnacle Bank bought a new position in National Retail Properties during the first quarter valued at $179,000. Finally, Louisiana State Employees Retirement System boosted its position in National Retail Properties by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 37,200 shares of the real estate investment trust’s stock valued at $1,623,000 after buying an additional 800 shares during the period. 89.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of National Retail Properties (NNN) traded down 0.95% during mid-day trading on Friday, hitting $40.73. 928,384 shares of the company’s stock traded hands. The company has a market cap of $6.08 billion, a PE ratio of 30.60 and a beta of 0.38. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $52.27. The firm has a 50-day moving average of $39.90 and a 200 day moving average of $41.38.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $145.55 million for the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. National Retail Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. Equities research analysts predict that National Retail Properties will post $1.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Thursday, July 27th. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s payout ratio is 142.86%.
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Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. National Retail Properties presently has an average rating of “Hold” and an average target price of $45.67.
In other news, EVP Stephen A. Horn, Jr. sold 10,000 shares of National Retail Properties stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $41.11, for a total transaction of $411,100.00. Following the transaction, the executive vice president now owns 90,462 shares in the company, valued at $3,718,892.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 2,000 shares of National Retail Properties stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total transaction of $80,560.00. Following the transaction, the executive vice president now owns 21,267 shares in the company, valued at approximately $856,634.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,499 shares of company stock worth $1,442,195. 1.03% of the stock is owned by company insiders.
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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