National Retail Properties, Inc. (NNN) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 4.2% during the third quarter, HoldingsChannel.com reports. The firm owned 4,088,539 shares of the real estate investment trust’s stock after selling 179,309 shares during the quarter. National Retail Properties makes up approximately 1.5% of Daiwa Securities Group Inc.’s portfolio, making the stock its 19th biggest position. Daiwa Securities Group Inc.’s holdings in National Retail Properties were worth $183,248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its position in National Retail Properties by 4.0% during the 2nd quarter. BlackRock Inc. now owns 21,558,636 shares of the real estate investment trust’s stock valued at $947,718,000 after purchasing an additional 832,861 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of National Retail Properties by 16.1% during the 3rd quarter. Victory Capital Management Inc. now owns 7,672,117 shares of the real estate investment trust’s stock valued at $343,864,000 after buying an additional 1,064,266 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of National Retail Properties by 2.2% during the 2nd quarter. Northern Trust Corp now owns 2,332,245 shares of the real estate investment trust’s stock valued at $102,526,000 after buying an additional 50,611 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of National Retail Properties by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,291,614 shares of the real estate investment trust’s stock valued at $100,740,000 after buying an additional 23,422 shares in the last quarter. Finally, AGF Investments Inc. boosted its holdings in shares of National Retail Properties by 15.3% during the 2nd quarter. AGF Investments Inc. now owns 909,569 shares of the real estate investment trust’s stock valued at $39,985,000 after buying an additional 120,762 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

NNN has been the topic of a number of research reports. Wells Fargo & Co set a $50.00 target price on shares of National Retail Properties and gave the company a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research cut shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus restated a “buy” rating and set a $46.00 target price on shares of National Retail Properties in a report on Wednesday, August 1st. LADENBURG THALM/SH SH set a $48.00 target price on shares of National Retail Properties and gave the company a “buy” rating in a report on Wednesday, September 26th. Finally, ValuEngine upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.86.

In related news, insider Christopher Paul Tessitore sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total value of $459,900.00. Following the transaction, the insider now owns 108,686 shares in the company, valued at approximately $4,998,469.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin B. Habicht sold 16,805 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $45.73, for a total transaction of $768,492.65. Following the completion of the transaction, the chief financial officer now owns 121,187 shares in the company, valued at approximately $5,541,881.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,935 shares of company stock worth $2,431,940. 1.03% of the stock is currently owned by company insiders.

Shares of NNN stock opened at $46.88 on Friday. The firm has a market cap of $7.36 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 3.80 and a beta of 0.03. National Retail Properties, Inc. has a 12 month low of $36.25 and a 12 month high of $48.08. The company has a current ratio of 18.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77.

National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.20). The firm had revenue of $155.33 million during the quarter, compared to the consensus estimate of $156.04 million. National Retail Properties had a return on equity of 9.46% and a net margin of 53.44%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, analysts expect that National Retail Properties, Inc. will post 2.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, October 30th. National Retail Properties’s payout ratio is 78.74%.

National Retail Properties Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

Read More: Trading Strategy Methods and Types

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.

Leave a Reply