Millennium Management LLC lessened its position in National Retail Properties, Inc. (NYSE:NNN) by 19.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,218,469 shares of the real estate investment trust’s stock after selling 286,028 shares during the period. Millennium Management LLC owned about 0.80% of National Retail Properties worth $52,553,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in NNN. CIBC Asset Management Inc bought a new position in shares of National Retail Properties in the 3rd quarter valued at about $236,000. Toronto Dominion Bank grew its position in shares of National Retail Properties by 248.2% in the 3rd quarter. Toronto Dominion Bank now owns 6,299 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 4,490 shares during the period. Rhumbline Advisers grew its position in shares of National Retail Properties by 9.5% in the 3rd quarter. Rhumbline Advisers now owns 357,403 shares of the real estate investment trust’s stock valued at $14,889,000 after acquiring an additional 31,033 shares during the period. Bank of New York Mellon Corp grew its position in shares of National Retail Properties by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,884,908 shares of the real estate investment trust’s stock valued at $78,524,000 after acquiring an additional 45,873 shares during the period. Finally, 361 Capital LLC bought a new position in shares of National Retail Properties in the 3rd quarter valued at about $734,000. 90.04% of the stock is owned by institutional investors.
In related news, EVP Stephen A. Horn, Jr. sold 12,000 shares of National Retail Properties stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $37.64, for a total transaction of $451,680.00. Following the completion of the sale, the executive vice president now owns 102,433 shares of the company’s stock, valued at approximately $3,855,578.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.03% of the company’s stock.
Shares of NNN stock opened at $38.20 on Wednesday. The company has a market cap of $5,905.04, a PE ratio of 15.17, a P/E/G ratio of 3.01 and a beta of 0.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.56 and a current ratio of 1.56. National Retail Properties, Inc. has a twelve month low of $36.25 and a twelve month high of $45.63.
National Retail Properties (NYSE:NNN) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $150.20 million for the quarter, compared to the consensus estimate of $148.46 million. National Retail Properties had a return on equity of 8.52% and a net margin of 45.30%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. analysts forecast that National Retail Properties, Inc. will post 2.64 earnings per share for the current fiscal year.
Several analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $47.00 target price on shares of National Retail Properties in a report on Monday, March 12th. Ladenburg Thalmann Financial Services set a $45.00 target price on shares of National Retail Properties and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, TheStreet downgraded shares of National Retail Properties from a “b” rating to a “c+” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.50.
TRADEMARK VIOLATION WARNING: “Millennium Management LLC Has $52.55 Million Stake in National Retail Properties, Inc. (NNN)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://ledgergazette.com/2018/03/21/millennium-management-llc-has-52-55-million-stake-in-national-retail-properties-inc-nnn.html.
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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