New Mexico Educational Retirement Board Sells 3,800 Shares of National Retail Properties, Inc. (NYSE:NNN)

New Mexico Educational Retirement Board lowered its holdings in shares of National Retail Properties, Inc. (NYSE:NNN) by 11.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 28,000 shares of the real estate investment trust’s stock after selling 3,800 shares during the period. New Mexico Educational Retirement Board’s holdings in National Retail Properties were worth $1,484,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of National Retail Properties by 1.9% during the first quarter. BlackRock Inc. now owns 23,305,276 shares of the real estate investment trust’s stock valued at $1,290,878,000 after acquiring an additional 423,636 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of National Retail Properties by 33.4% during the first quarter. JPMorgan Chase & Co. now owns 5,747,192 shares of the real estate investment trust’s stock valued at $318,336,000 after acquiring an additional 1,440,166 shares during the last quarter. FMR LLC raised its stake in shares of National Retail Properties by 17.6% during the first quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after acquiring an additional 581,343 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of National Retail Properties by 6.5% during the first quarter. Daiwa Securities Group Inc. now owns 3,183,210 shares of the real estate investment trust’s stock valued at $176,318,000 after acquiring an additional 194,236 shares during the last quarter. Finally, PGGM Investments raised its stake in shares of National Retail Properties by 369.6% during the second quarter. PGGM Investments now owns 3,164,375 shares of the real estate investment trust’s stock valued at $167,744,000 after acquiring an additional 2,490,524 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 2,550 shares of National Retail Properties stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $25.69, for a total value of $65,509.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle Lynn Miller sold 1,500 shares of National Retail Properties stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $54.91, for a total transaction of $82,365.00. Following the completion of the sale, the executive vice president now directly owns 34,154 shares of the company’s stock, valued at $1,875,396.14. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.



NYSE NNN traded down $0.09 during mid-day trading on Friday, reaching $55.55. 598,275 shares of the stock were exchanged, compared to its average volume of 935,437. National Retail Properties, Inc. has a one year low of $42.97 and a one year high of $56.23. The stock has a 50 day simple moving average of $53.67 and a 200-day simple moving average of $53.38. The stock has a market cap of $9.03 billion, a P/E ratio of 20.73, a P/E/G ratio of 5.93 and a beta of 0.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83.

National Retail Properties (NYSE:NNN) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The firm had revenue of $164.80 million for the quarter, compared to the consensus estimate of $163.73 million. During the same period in the prior year, the business earned $0.68 EPS. National Retail Properties’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Tuesday, July 30th. This is an increase from National Retail Properties’s previous quarterly dividend of $0.50. National Retail Properties’s dividend payout ratio (DPR) is currently 76.87%.

NNN has been the subject of several analyst reports. ValuEngine downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James set a $57.00 price target on shares of National Retail Properties and gave the company a “hold” rating in a research note on Monday, May 20th. Stifel Nicolaus raised their price target on shares of National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley raised their price target on shares of National Retail Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $54.43.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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

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