Sumitomo Mitsui Trust Holdings Inc. Acquires 4,153 Shares of National Retail Properties (NNN)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of National Retail Properties (NYSE:NNN) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 525,942 shares of the real estate investment trust’s stock after acquiring an additional 4,153 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.35% of National Retail Properties worth $20,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of National Retail Properties by 2,977.1% in the first quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock worth $771,779,000 after buying an additional 17,118,260 shares during the period. State Street Corp boosted its position in shares of National Retail Properties by 15.2% in the first quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock worth $534,055,000 after buying an additional 1,616,397 shares during the period. Victory Capital Management Inc. boosted its position in shares of National Retail Properties by 41.6% in the first quarter. Victory Capital Management Inc. now owns 2,890,462 shares of the real estate investment trust’s stock worth $126,082,000 after buying an additional 848,500 shares during the period. Vanguard Group Inc. boosted its position in shares of National Retail Properties by 3.0% in the first quarter. Vanguard Group Inc. now owns 23,620,499 shares of the real estate investment trust’s stock worth $1,030,326,000 after buying an additional 689,840 shares during the period. Finally, APG Asset Management US Inc. boosted its position in shares of National Retail Properties by 19.6% in the second quarter. APG Asset Management US Inc. now owns 1,819,300 shares of the real estate investment trust’s stock worth $71,135,000 after buying an additional 297,530 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

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In other National Retail Properties news, EVP Stephen A. Horn, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $41.11, for a total value of $411,100.00. Following the transaction, the executive vice president now directly owns 90,462 shares of the company’s stock, valued at approximately $3,718,892.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.28, for a total transaction of $80,560.00. Following the completion of the transaction, the executive vice president now directly owns 21,267 shares in the company, valued at $856,634.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,912 shares of company stock worth $2,164,138. 1.03% of the stock is owned by insiders.

Several brokerages have recently commented on NNN. BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. FBR & Co reaffirmed a “buy” rating and issued a $52.00 target price on shares of National Retail Properties in a research report on Thursday, September 7th. Finally, Ladenburg Thalmann Financial Services raised National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Monday, September 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $45.86.

National Retail Properties (NYSE NNN) traded up 0.86% during trading on Friday, reaching $43.17. The company’s stock had a trading volume of 1,229,071 shares. The company has a market cap of $6.44 billion, a P/E ratio of 32.43 and a beta of 0.36. The company’s 50 day moving average price is $41.25 and its 200 day moving average price is $41.06. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $52.27.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate 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%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities analysts anticipate that National Retail Properties will post $1.45 earnings per share for the current fiscal year.

About National Retail Properties

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.

Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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