Pictet Asset Management Ltd. grew its position in National Retail Properties (NYSE:NNN) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,400 shares of the real estate investment trust’s stock after buying an additional 2,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in National Retail Properties were worth $2,100,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of National Retail Properties by 82.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,606 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 1,632 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in shares of National Retail Properties in the second quarter valued at $212,000. Raymond James Trust N.A. purchased a new position in shares of National Retail Properties in the third quarter valued at $231,000. Meridian Wealth Management LLC increased its position in shares of National Retail Properties by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 27 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of National Retail Properties in the second quarter valued at $254,000. Institutional investors and hedge funds own 87.57% of the company’s stock.
Shares of National Retail Properties (NYSE NNN) opened at $42.55 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 7.66 and a current ratio of 7.66. The company has a market capitalization of $6,412.09, a price-to-earnings ratio of 16.73, a P/E/G ratio of 3.46 and a beta of 0.40. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $46.34.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $147.71 million for the quarter, compared to analyst estimates of $146.57 million. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. research analysts expect that National Retail Properties will post 2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, October 30th. National Retail Properties’s payout ratio is currently 135.72%.
In other National Retail Properties news, EVP Stephen A. Horn, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $41.11, for a total value of $411,100.00. Following the sale, the executive vice president now directly owns 90,462 shares of the company’s stock, valued at approximately $3,718,892.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Julian E. Whitehurst sold 17,413 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $41.46, for a total value of $721,942.98. Following the completion of the sale, the insider now directly owns 294,826 shares in the company, valued at $12,223,485.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 827,413 shares of company stock worth $1,168,043. 1.03% of the stock is owned by corporate insiders.
A number of research analysts have recently weighed in on the company. B. Riley restated a “buy” rating on shares of National Retail Properties in a research report on Friday, November 3rd. UBS AG upgraded National Retail Properties from a “sell” rating to a “neutral” rating and raised their price target for the company from $36.00 to $42.00 in a research report on Thursday, November 9th. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of National Retail Properties in a research note on Thursday, November 2nd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $46.00 price objective on shares of National Retail Properties in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $47.00.
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National Retail Properties Company Profile
National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.
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