Belpointe Asset Management LLC Makes New $135,000 Investment in National Retail Properties, Inc. (NYSE:NNN)

Belpointe Asset Management LLC purchased a new position in National Retail Properties, Inc. (NYSE:NNN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,889 shares of the real estate investment trust’s stock, valued at approximately $135,000.

Several other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of National Retail Properties by 2.8% in the first quarter. BlackRock Inc. now owns 19,981,559 shares of the real estate investment trust’s stock worth $880,588,000 after acquiring an additional 543,119 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of National Retail Properties by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 5,802,759 shares of the real estate investment trust’s stock worth $255,727,000 after acquiring an additional 177,433 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of National Retail Properties by 1.1% in the first quarter. Royal Bank of Canada now owns 5,095,614 shares of the real estate investment trust’s stock worth $224,565,000 after acquiring an additional 55,053 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of National Retail Properties by 1.6% during the first quarter. Geode Capital Management LLC now owns 2,750,905 shares of the real estate investment trust’s stock worth $121,232,000 after buying an additional 42,378 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of National Retail Properties by 5.8% during the first quarter. Northern Trust Corp now owns 2,155,600 shares of the real estate investment trust’s stock worth $94,997,000 after buying an additional 118,835 shares in the last quarter. Institutional investors own 87.90% of the company’s stock.

A number of research analysts recently issued reports on NNN shares. Wells Fargo & Company increased their price objective on National Retail Properties from $44.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, July 1st. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a report on Friday, September 10th. Finally, Morgan Stanley increased their price objective on National Retail Properties from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, September 7th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, National Retail Properties has a consensus rating of “Buy” and a consensus target price of $51.29.

Shares of NYSE NNN opened at $45.28 on Friday. The stock has a 50 day moving average price of $47.60 and a 200 day moving average price of $46.55. National Retail Properties, Inc. has a 52 week low of $31.41 and a 52 week high of $50.33. The company has a debt-to-equity ratio of 0.84, a quick ratio of 13.34 and a current ratio of 13.34. The stock has a market capitalization of $7.95 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 4.33 and a beta of 0.83.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Tuesday, August 3rd. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.33). National Retail Properties had a net margin of 36.28% and a return on equity of 6.26%. The business had revenue of $179.01 million during the quarter, compared to analyst estimates of $177.00 million. During the same period in the previous year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that National Retail Properties, Inc. will post 2.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Friday, July 30th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.68%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, July 29th. National Retail Properties’s dividend payout ratio (DPR) is presently 84.46%.

National Retail Properties Profile

National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.

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

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