National Retail Properties, Inc. (NYSE:NNN) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 98.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 800 shares of the real estate investment trust’s stock after selling 49,408 shares during the quarter. Korea Investment CORP’s holdings in National Retail Properties were worth $42,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of National Retail Properties by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,375,477 shares of the real estate investment trust’s stock worth $115,234,000 after acquiring an additional 29,973 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of National Retail Properties by 14.0% during the 4th quarter. Geode Capital Management LLC now owns 1,746,795 shares of the real estate investment trust’s stock worth $84,683,000 after purchasing an additional 214,643 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of National Retail Properties by 1.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 17,339 shares of the real estate investment trust’s stock worth $960,000 after purchasing an additional 260 shares during the period. Cornerstone Advisors Inc. increased its holdings in National Retail Properties by 170.8% in the 1st quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 292 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in National Retail Properties by 23.4% in the 1st quarter. California Public Employees Retirement System now owns 941,780 shares of the real estate investment trust’s stock valued at $52,165,000 after purchasing an additional 178,335 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

In other news, EVP Michelle Lynn Miller sold 1,700 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total transaction of $94,248.00. Following the sale, the executive vice president now owns 39,454 shares of the company’s stock, valued at $2,187,329.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.



NNN has been the topic of a number of research reports. Morgan Stanley upped their price target on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Stifel Nicolaus raised their price target on National Retail Properties from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. ValuEngine cut National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Co set a $62.00 target price on National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $56.14.

Shares of NNN stock traded down $0.11 during trading on Wednesday, reaching $53.94. The company’s stock had a trading volume of 29,322 shares, compared to its average volume of 1,083,598. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 6.54 and a beta of 0.13. The stock’s 50-day moving average price is $54.60 and its 200 day moving average price is $53.66. National Retail Properties, Inc. has a 1-year low of $42.97 and a 1-year high of $57.80.

National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. During the same quarter last year, the company earned $0.68 earnings per share. National Retail Properties’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that National Retail Properties, Inc. will post 2.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.515 dividend. This is an increase from National Retail Properties’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, July 30th. This represents a $2.06 annualized dividend and a dividend yield of 3.82%. National Retail Properties’s payout ratio is 76.87%.

National Retail Properties 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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