Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $1,126,000 Position in National Retail Properties (NYSE:NNN)
Meag Munich Ergo Kapitalanlagegesellschaft MBH continued to hold its stake in shares of 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 owned 28,600 shares of the real estate investment trust’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in National Retail Properties were worth $1,126,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of National Retail Properties by 278.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 1,694 shares during the period. IHT Wealth Management LLC increased its position in shares of National Retail Properties by 1.0% in the first quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 28 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of National Retail Properties during the first quarter worth approximately $122,000. Pinnacle Bank bought a new position in shares of National Retail Properties during the first quarter worth approximately $179,000. Finally, Greenleaf Trust bought a new position in shares of National Retail Properties during the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 89.75% of the company’s stock.
Shares of National Retail Properties (NYSE:NNN) opened at 40.50 on Monday. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $52.28. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 30.43 and a beta of 0.38. The firm has a 50-day moving average price of $39.31 and a 200-day moving average price of $41.70.
National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.29. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The business had revenue of $145.55 million during the quarter, compared to analyst estimates of $142.83 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that National Retail Properties will post $1.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a dividend of $0.475 per share. This is an increase from National Retail Properties’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Thursday, July 27th. National Retail Properties’s payout ratio is currently 142.86%.
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Several research firms have recently weighed in on NNN. Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. National Retail Properties presently has a consensus rating of “Hold” and an average target price of $45.67.
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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