IFP Advisors Inc boosted its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 110.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,867 shares of the real estate investment trust’s stock after purchasing an additional 13,047 shares during the quarter. IFP Advisors Inc’s holdings in National Retail Properties were worth $1,115,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Advisors Preferred LLC boosted its position in National Retail Properties by 119.6% during the second quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 1,346 shares during the period. Asset Advisors Corp bought a new position in National Retail Properties during the second quarter worth $110,000. Centaurus Financial Inc. bought a new position in National Retail Properties during the second quarter worth $124,000. Gradient Investments LLC boosted its position in National Retail Properties by 7,526.0% during the second quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 3,763 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in National Retail Properties during the second quarter worth $215,000. 90.81% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Michelle Lynn Miller sold 1,750 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.67, for a total transaction of $79,922.50. Following the completion of the sale, the executive vice president now owns 29,947 shares of the company’s stock, valued at $1,367,679.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the chief financial officer now directly owns 121,187 shares of the company’s stock, valued at approximately $5,541,881.51. The disclosure for this sale can be found here. In the last three months, insiders sold 54,685 shares of company stock valued at $2,511,863. 0.78% of the stock is currently owned by company insiders.
National Retail Properties (NYSE:NNN) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.26). The business had revenue of $155.50 million during the quarter, compared to the consensus estimate of $154.12 million. National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, analysts anticipate that National Retail Properties, Inc. will post 2.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be given a $0.50 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.28%. National Retail Properties’s payout ratio is presently 78.74%.
NNN has been the subject of a number of research analyst reports. Wells Fargo & Co set a $50.00 price objective on shares of National Retail Properties and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Stifel Nicolaus lifted their price objective on shares of National Retail Properties from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research raised shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, July 4th. 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 research report on Wednesday, September 26th. Finally, Janney Montgomery Scott cut shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $46.86.
National Retail Properties Company 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.
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