Texas Permanent School Fund raised its position in shares of National Retail Properties (NYSE:NNN) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,887 shares of the real estate investment trust’s stock after buying an additional 2,287 shares during the period. Texas Permanent School Fund owned 0.07% of National Retail Properties worth $4,257,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC increased its stake in 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 worth $234,000 after buying an additional 27 shares in the last quarter. IHT Wealth Management LLC increased its stake in shares of National Retail Properties by 1.0% in the first quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 28 shares during the period. Private Trust Co. NA increased its stake in shares of National Retail Properties by 0.7% in the first quarter. Private Trust Co. NA now owns 9,242 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 61 shares during the period. Public Employees Retirement Association of Colorado increased its stake in National Retail Properties by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 35,731 shares of the real estate investment trust’s stock valued at $1,397,000 after buying an additional 144 shares during the last quarter. Finally, World Asset Management Inc increased its stake in National Retail Properties by 1.7% in the first quarter. World Asset Management Inc now owns 11,207 shares of the real estate investment trust’s stock valued at $489,000 after buying an additional 184 shares during the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.
Shares of National Retail Properties (NYSE:NNN) traded down 1.31% on Friday, hitting $39.92. The stock had a trading volume of 716,579 shares. The firm has a 50-day moving average price of $39.68 and a 200-day moving average price of $41.50. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $52.27. The stock has a market capitalization of $5.96 billion, a P/E ratio of 29.99 and a beta of 0.38.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.62 by $0.29. The business had revenue of $145.55 million during the quarter, compared to analysts’ expectations of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities analysts expect that National Retail Properties will post $1.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.76%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, July 27th. National Retail Properties’s dividend payout ratio is 142.86%.
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NNN has been the subject of several research reports. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, August 2nd. BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $45.67.
In other National Retail Properties news, EVP Michelle Lynn Miller sold 2,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total transaction of $80,560.00. Following the transaction, the executive vice president now directly owns 21,267 shares in the company, valued at $856,634.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is owned by corporate insiders.
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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