Northwestern Mutual Wealth Management Co. lifted its holdings in shares of National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 76.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,563 shares of the real estate investment trust’s stock after purchasing an additional 3,704 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in National Retail Properties were worth $385,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in NNN. Cambridge Investment Research Advisors Inc. boosted its position in National Retail Properties by 2.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,892 shares of the real estate investment trust’s stock valued at $1,437,000 after buying an additional 584 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in National Retail Properties during the 4th quarter valued at $226,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in National Retail Properties by 2.5% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 72,603 shares of the real estate investment trust’s stock valued at $3,481,000 after buying an additional 1,753 shares during the period. M&T Bank Corp boosted its position in National Retail Properties by 20.1% during the 4th quarter. M&T Bank Corp now owns 18,863 shares of the real estate investment trust’s stock valued at $907,000 after buying an additional 3,162 shares during the period. Finally, American Century Companies Inc. boosted its position in National Retail Properties by 95.0% during the 4th quarter. American Century Companies Inc. now owns 31,459 shares of the real estate investment trust’s stock valued at $1,512,000 after buying an additional 15,330 shares during the period. Institutional investors own 88.31% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on NNN. Stifel Nicolaus dropped their price target on shares of National Retail Properties from $56.00 to $53.00 in a research report on Tuesday, May 3rd. Morgan Stanley cut shares of National Retail Properties from an “overweight” rating to an “equal weight” rating and set a $45.00 target price for the company. in a research report on Tuesday, July 12th. Credit Suisse Group assumed coverage on shares of National Retail Properties in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $46.00 target price for the company. Raymond James raised their target price on shares of National Retail Properties from $50.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 8th. Finally, StockNews.com cut shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.00.
National Retail Properties Trading Down 0.9 %
Shares of NYSE NNN opened at $46.53 on Tuesday. National Retail Properties, Inc. has a 1 year low of $39.12 and a 1 year high of $48.90. The stock has a market cap of $8.24 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 3.71 and a beta of 0.84. The firm has a 50-day moving average of $45.07 and a 200 day moving average of $44.30. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.51 and a quick ratio of 1.51.
National Retail Properties (NYSE:NNN – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. National Retail Properties had a net margin of 42.21% and a return on equity of 8.09%. The company had revenue of $190.80 million during the quarter, compared to analysts’ expectations of $190.68 million. During the same period last year, the company posted $0.77 EPS. National Retail Properties’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that National Retail Properties, Inc. will post 3.13 EPS for the current fiscal year.
National Retail Properties Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were given a dividend of $0.55 per share. This is a boost from National Retail Properties’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Thursday, July 28th. National Retail Properties’s dividend payout ratio (DPR) is 129.41%.
Insider Buying and Selling at National Retail Properties
In other National Retail Properties news, CFO Kevin B. Habicht sold 10,520 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $48.06, for a total transaction of $505,591.20. Following the completion of the sale, the chief financial officer now directly owns 203,717 shares in the company, valued at approximately $9,790,639.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.
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