LDR Capital Management LLC Purchases New Position in National Retail Properties, Inc. (NYSE:NNN)

LDR Capital Management LLC purchased a new stake in National Retail Properties, Inc. (NYSE:NNN) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 7,226 shares of the real estate investment trust’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JLP Asset Management LLC bought a new position in National Retail Properties in the 4th quarter valued at about $1,006,000. Intrua Financial LLC lifted its position in National Retail Properties by 57.0% in the 1st quarter. Intrua Financial LLC now owns 12,011 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 4,361 shares in the last quarter. UBS Oconnor LLC bought a new position in National Retail Properties in the 4th quarter valued at about $777,000. Private Trust Co. NA lifted its position in National Retail Properties by 6.5% in the 1st quarter. Private Trust Co. NA now owns 8,972 shares of the real estate investment trust’s stock valued at $395,000 after acquiring an additional 550 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. purchased a new stake in National Retail Properties in the 4th quarter valued at about $9,231,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00. Also, CAO Michelle Lynn Miller sold 6,500 shares of the firm’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $43.33, for a total transaction of $281,645.00. Following the completion of the transaction, the chief accounting officer now directly owns 41,685 shares of the company’s stock, valued at $1,806,211.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,907 shares of company stock valued at $4,049,339. 0.77% of the stock is owned by insiders.

Shares of NNN stock opened at $45.13 on Monday. The company has a 50 day moving average of $45.99 and a 200-day moving average of $41.71. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.82. National Retail Properties, Inc. has a 12-month low of $26.80 and a 12-month high of $49.00. The firm has a market cap of $7.92 billion, a P/E ratio of 36.69 and a beta of 0.74.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Tuesday, May 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.34). The business had revenue of $179.80 million during the quarter, compared to the consensus estimate of $167.10 million. National Retail Properties had a return on equity of 6.09% and a net margin of 35.97%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. As a group, equities analysts expect that National Retail Properties, Inc. will post 2.62 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Friday, April 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.61%. The ex-dividend date was Thursday, April 29th. National Retail Properties’s dividend payout ratio (DPR) is presently 75.36%.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of National Retail Properties from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 14th. Bank of America upgraded shares of National Retail Properties from an “underperform” rating to a “buy” rating in a research note on Tuesday, April 13th. B. Riley increased their price objective on shares of National Retail Properties from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Morgan Stanley upgraded shares of National Retail Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $37.00 to $53.00 in a research note on Wednesday, April 21st. Finally, Raymond James increased their price objective on shares of National Retail Properties from $48.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 11th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.67.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

Further Reading: What are the advantages to having securities held in street name?

Want to see what other hedge funds are holding NNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Retail Properties, Inc. (NYSE:NNN).

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

Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.