Northern Trust Corp Purchases 156,714 Shares of National Retail Properties, Inc. (NYSE:NNN)

Northern Trust Corp raised its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,217,110 shares of the real estate investment trust’s stock after acquiring an additional 156,714 shares during the quarter. Northern Trust Corp owned about 1.36% of National Retail Properties worth $117,528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its position in National Retail Properties by 170.8% during the first quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 292 shares during the last quarter. JJJ Advisors Inc. bought a new stake in National Retail Properties during the second quarter valued at $31,000. Cascade Investment Advisors Inc. bought a new stake in National Retail Properties during the second quarter valued at $32,000. TRUE Private Wealth Advisors bought a new stake in National Retail Properties during the second quarter valued at $53,000. Finally, Cutler Group LP boosted its position in National Retail Properties by 60.6% during the first quarter. Cutler Group LP now owns 1,494 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 564 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of NNN stock traded down $0.83 on Friday, reaching $53.56. 205,250 shares of the company were exchanged, compared to its average volume of 1,153,063. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 6.36 and a beta of 0.13. The company has a 50-day moving average of $54.64 and a 200-day moving average of $53.67. 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, Inc. has a one year low of $42.97 and a one year high of $57.80.



National Retail Properties (NYSE:NNN) last released its quarterly earnings data 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). The company had revenue of $164.80 million for the quarter, compared to the consensus estimate of $163.73 million. National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. National Retail Properties’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. As a group, sell-side analysts predict that National Retail Properties, Inc. will post 2.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Tuesday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.50. National Retail Properties’s dividend payout ratio is 76.87%.

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

A number of analysts have commented on the stock. Stifel Nicolaus upped 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 report on Tuesday, August 20th. ValuEngine cut shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley increased their price objective on shares of National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Raymond James set a $57.00 price objective on shares of National Retail Properties and gave the stock a “hold” rating in a research report on Monday, May 20th. Finally, Wells Fargo & Co set a $62.00 price objective on shares of National Retail Properties and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $56.14.

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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