Rothschild Asset Management Inc. Has $1.11 Million Position in National Retail Properties (NYSE:NNN)
Rothschild Asset Management Inc. lowered its stake in shares of National Retail Properties (NYSE:NNN) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 28,332 shares of the real estate investment trust’s stock after selling 381 shares during the period. Rothschild Asset Management Inc.’s holdings in National Retail Properties were worth $1,108,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in 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 valued at $100,000 after buying an additional 1,694 shares in the last quarter. IHT Wealth Management LLC raised its stake in 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 valued at $119,000 after buying an additional 28 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in National Retail Properties during the first quarter valued at approximately $122,000. Pinnacle Bank purchased a new stake in National Retail Properties during the first quarter valued at approximately $179,000. Finally, Greenleaf Trust purchased a new stake in National Retail Properties during the first quarter valued at approximately $209,000. Institutional investors own 89.75% of the company’s stock.
National Retail Properties (NNN) opened at 40.83 on Thursday. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $52.27. The firm’s 50-day moving average is $39.55 and its 200 day moving average is $41.55. The stock has a market capitalization of $6.09 billion, a P/E ratio of 30.68 and a beta of 0.38.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. The business had revenue of $145.55 million during the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. National Retail Properties’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Equities analysts expect that National Retail Properties will post $1.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.65%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, July 27th. National Retail Properties’s dividend payout ratio is presently 142.86%.
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Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of 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 assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.67.
In related news, 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 sale, the executive vice president now directly owns 21,267 shares of the company’s stock, valued at approximately $856,634.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.
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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