CrestPoint Capital Management LLC acquired a new stake in National Retail Properties (NYSE:NNN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,600 shares of the real estate investment trust’s stock, valued at approximately $1,157,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Shell Asset Management Co. increased its position in National Retail Properties by 2.8% in the first quarter. Shell Asset Management Co. now owns 15,589 shares of the real estate investment trust’s stock valued at $680,000 after buying an additional 421 shares during the last quarter. Private Trust Co. NA increased its position in 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 last quarter. First Financial Bank N.A. Trust Division increased its position in National Retail Properties by 3.4% in the first quarter. First Financial Bank N.A. Trust Division now owns 117,237 shares of the real estate investment trust’s stock valued at $5,114,000 after buying an additional 3,802 shares during the last quarter. Nationwide Fund Advisors increased its position in National Retail Properties by 0.7% in the first quarter. Nationwide Fund Advisors now owns 245,824 shares of the real estate investment trust’s stock valued at $10,723,000 after buying an additional 1,618 shares during the last quarter. Finally, RidgeWorth Capital Management LLC increased its position in National Retail Properties by 29.2% in the first quarter. RidgeWorth Capital Management LLC now owns 930,050 shares of the real estate investment trust’s stock valued at $40,569,000 after buying an additional 210,125 shares during the last quarter. Institutional investors own 89.19% of the company’s stock.
National Retail Properties (NYSE NNN) opened at 39.66 on Tuesday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 30.67 and a beta of 0.38. The firm has a 50-day moving average of $38.32 and a 200-day moving average of $42.41. National Retail Properties has a 52-week low of $36.45 and a 52-week high of $53.60.
National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.27. National Retail Properties had a net margin of 44.24% and a return on equity of 8.07%. The business had revenue of $141.43 million for the quarter, compared to analyst estimates of $141.51 million. During the same period last year, the firm earned $0.58 earnings per share. National Retail Properties’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that National Retail Properties will post $1.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.475 dividend. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Thursday, July 27th. National Retail Properties’s dividend payout ratio (DPR) is currently 140.00%.
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Separately, BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. National Retail Properties presently has an average rating of “Hold” and a consensus target price of $50.50.
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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