Macquarie Group Ltd. cut its holdings in shares of National Retail Properties, Inc. (NYSE:NNN) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of NNN. Northwestern Mutual Wealth Management Co. grew its position in National Retail Properties by 82.7% during the second 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 during the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of National Retail Properties during the second quarter valued at approximately $212,000. Timber Hill LLC purchased a new stake in National Retail Properties in the third quarter worth $212,000. Raymond James Trust N.A. purchased a new stake in National Retail Properties in the third quarter worth $231,000. Finally, CIBC Asset Management Inc purchased a new stake in National Retail Properties in the third quarter worth $236,000. Institutional investors own 90.55% of the company’s stock.
A number of research firms have issued reports on NNN. Robert W. Baird reiterated a “buy” rating and issued a $46.00 price objective on shares of National Retail Properties in a report on Friday, October 20th. Ladenburg Thalmann Financial Services upgraded National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a report on Monday, September 11th. FBR & Co reiterated a “buy” rating and issued a $52.00 price objective on shares of National Retail Properties in a report on Thursday, September 7th. B. Riley reiterated a “buy” rating on shares of National Retail Properties in a report on Friday, November 3rd. Finally, UBS raised National Retail Properties from a “sell” rating to a “neutral” rating and raised 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 issued a buy rating to the company. National Retail Properties currently has a consensus rating of “Buy” and an average target price of $47.71.
Shares of National Retail Properties, Inc. (NYSE:NNN) traded up $0.38 during mid-day trading on Thursday, hitting $42.56. The company’s stock had a trading volume of 974,600 shares, compared to its average volume of 1,087,029. The company has a quick ratio of 7.66, a current ratio of 7.66 and a debt-to-equity ratio of 0.86. The stock has a market cap of $6,413.61, a PE ratio of 16.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.39. National Retail Properties, Inc. has a twelve month low of $36.45 and a twelve month high of $46.34.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $147.71 million during the quarter, compared to analysts’ expectations of $146.57 million. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. analysts forecast that National Retail Properties, Inc. will post 2.53 EPS for the current fiscal year.
The business also recently announced 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 yield of 4.46%. The ex-dividend date was Monday, October 30th. National Retail Properties’s dividend payout ratio (DPR) is 135.72%.
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.
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