Macquarie Group Ltd. Reduces Holdings in National Retail Properties (NNN)

Macquarie Group Ltd. lessened its stake in National Retail Properties (NYSE:NNN) by 19.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,675 shares of the real estate investment trust’s stock after selling 13,700 shares during the quarter. Macquarie Group Ltd.’s holdings in National Retail Properties were worth $2,319,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado increased its stake in National Retail Properties by 0.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,731 shares of the real estate investment trust’s stock valued at $1,397,000 after buying an additional 144 shares during the period. McKinley Carter Wealth Services Inc. increased its stake in National Retail Properties by 3.3% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 7,467 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 238 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in National Retail Properties by 1.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,766 shares of the real estate investment trust’s stock valued at $851,000 after buying an additional 259 shares during the period. Suntrust Banks Inc. increased its stake in National Retail Properties by 3.7% in the 2nd quarter. Suntrust Banks Inc. now owns 10,848 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 385 shares during the period. Finally, World Asset Management Inc increased its stake in National Retail Properties by 3.9% in the 2nd quarter. World Asset Management Inc now owns 11,644 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 437 shares during the period. Hedge funds and other institutional investors own 90.55% of the company’s stock.

National Retail Properties (NYSE:NNN) traded up $0.18 during mid-day trading on Tuesday, reaching $41.95. 961,600 shares of the company’s stock traded hands, compared to its average volume of 1,098,827. The company has a debt-to-equity ratio of 0.86, a current ratio of 7.66 and a quick ratio of 7.66. The company has a market capitalization of $6,351.27, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 3.43 and a beta of 0.39. National Retail Properties has a 12 month low of $36.45 and a 12 month high of $46.34.

National Retail Properties (NYSE:NNN) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $147.71 million during the quarter, compared to the consensus estimate of $146.57 million. National Retail Properties had a net margin of 44.96% and a return on equity of 8.47%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. sell-side analysts expect 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 was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Monday, October 30th. National Retail Properties’s dividend payout ratio is currently 135.72%.

NNN has been the subject of several recent research reports. B. Riley reissued a “buy” rating on shares of National Retail Properties in a research report on Friday, November 3rd. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of National Retail Properties in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, October 11th. Robert W. Baird reissued a “buy” rating and issued a $46.00 target price on shares of National Retail Properties in a research report on Friday, October 20th. Finally, UBS raised shares of National Retail Properties from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $36.00 to $42.00 in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $47.71.

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

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