Manning & Napier Group LLC Purchases 32,290 Shares of National Retail Properties, Inc. (NYSE:NNN)

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Manning & Napier Group LLC raised its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 46.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,485 shares of the real estate investment trust’s stock after acquiring an additional 32,290 shares during the period. Manning & Napier Group LLC owned approximately 0.06% of National Retail Properties worth $5,722,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JJJ Advisors Inc. bought a new stake in shares of National Retail Properties during the second quarter worth approximately $31,000. Cascade Investment Advisors Inc. bought a new stake in shares of National Retail Properties during the second quarter worth approximately $32,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of National Retail Properties in the second quarter valued at approximately $32,000. TRUE Private Wealth Advisors acquired a new stake in shares of National Retail Properties in the second quarter valued at approximately $53,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of National Retail Properties in the second quarter valued at approximately $86,000. Institutional investors own 90.25% of the company’s stock.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $55.44, for a total transaction of $94,248.00. Following the completion of the transaction, the executive vice president now directly owns 39,454 shares in the company, valued at $2,187,329.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on NNN shares. Wells Fargo & Co set a $62.00 price target on shares of National Retail Properties and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price target on shares of National Retail Properties from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 17th. Stifel Nicolaus lifted their price target on shares of National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. ValuEngine downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $60.29.

NYSE NNN opened at $56.87 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.81. National Retail Properties, Inc. has a 1-year low of $42.97 and a 1-year high of $57.80. The company has a 50 day moving average of $55.80 and a 200-day moving average of $54.13. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 6.68 and a beta of 0.10.

National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.25). National Retail Properties had a net margin of 43.14% and a return on equity of 7.88%. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that National Retail Properties, Inc. will post 2.74 earnings per share for the current year.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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

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