AGF Investments Inc. reduced its position in National Retail Properties (NYSE:NNN) by 0.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 536,208 shares of the real estate investment trust’s stock after selling 180 shares during the quarter. AGF Investments Inc. owned approximately 0.36% of National Retail Properties worth $20,977,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of National Retail Properties by 3.0% during the first quarter. Vanguard Group Inc. now owns 23,620,499 shares of the real estate investment trust’s stock valued at $1,030,326,000 after acquiring an additional 689,840 shares during the period. BlackRock Inc. lifted its holdings in shares of National Retail Properties by 2,977.1% during the first quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock valued at $771,779,000 after acquiring an additional 17,118,260 shares during the period. State Street Corp lifted its holdings in shares of National Retail Properties by 15.2% during the first quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock valued at $534,055,000 after acquiring an additional 1,616,397 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of National Retail Properties by 35.3% during the second quarter. Victory Capital Management Inc. now owns 3,910,662 shares of the real estate investment trust’s stock valued at $152,907,000 after acquiring an additional 1,020,200 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of National Retail Properties by 2.6% during the second quarter. Daiwa Securities Group Inc. now owns 3,723,155 shares of the real estate investment trust’s stock valued at $145,575,000 after acquiring an additional 95,072 shares during the period. 89.36% of the stock is owned by institutional investors.
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Shares of National Retail Properties (NYSE:NNN) opened at 42.11 on Friday. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 31.64 and a beta of 0.36. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $52.27. The stock has a 50 day moving average price of $41.42 and a 200-day moving average price of $40.98.
National Retail Properties (NYSE:NNN) last announced 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 for the quarter, compared to the consensus estimate of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. National Retail Properties’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts forecast that National Retail Properties will post $1.45 earnings per share for the current year.
In other National Retail Properties news, insider Julian E. Whitehurst sold 17,413 shares of the 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 transaction, the insider now directly owns 294,826 shares in the company, valued at $12,223,485.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.28, for a total value of $80,560.00. Following the completion of the transaction, the executive vice president now owns 21,267 shares of the company’s stock, valued at $856,634.76. The disclosure for this sale can be found here. Insiders sold 52,912 shares of company stock valued at $2,164,138 over the last quarter. Corporate insiders own 1.03% of the company’s stock.
A number of brokerages have issued reports on NNN. FBR & Co reissued a “buy” rating and set a $52.00 price objective on shares of National Retail Properties in a report on Thursday, September 7th. Ladenburg Thalmann Financial Services raised National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Monday, September 11th. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $45.86.
About National Retail Properties
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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