Victory Capital Management Inc. raised its stake in National Retail Properties, Inc. (NYSE:NNN) by 35.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,910,662 shares of the real estate investment trust’s stock after buying an additional 1,020,200 shares during the period. Victory Capital Management Inc. owned 2.62% of National Retail Properties worth $152,907,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NNN. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of National Retail Properties by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 525,942 shares of the real estate investment trust’s stock valued at $20,564,000 after buying an additional 4,153 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of National Retail Properties by 58.8% in the second quarter. Virginia Retirement Systems ET AL now owns 176,881 shares of the real estate investment trust’s stock valued at $6,916,000 after buying an additional 65,500 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of National Retail Properties by 502.2% in the second quarter. William Blair Investment Management LLC now owns 81,277 shares of the real estate investment trust’s stock valued at $3,178,000 after buying an additional 67,781 shares in the last quarter. BB&T Securities LLC increased its stake in shares of National Retail Properties by 70.0% in the second quarter. BB&T Securities LLC now owns 40,637 shares of the real estate investment trust’s stock valued at $1,588,000 after buying an additional 16,735 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of National Retail Properties by 23.3% in the second quarter. BNP Paribas Arbitrage SA now owns 117,951 shares of the real estate investment trust’s stock valued at $4,612,000 after buying an additional 22,254 shares in the last quarter. 89.86% of the stock is owned by institutional investors and hedge funds.

Shares of National Retail Properties, Inc. (NYSE:NNN) opened at 41.06 on Thursday. The firm has a market cap of $6.13 billion, a P/E ratio of 30.85 and a beta of 0.38. National Retail Properties, Inc. has a 12-month low of $36.45 and a 12-month high of $52.27. The company’s 50 day moving average price is $40.02 and its 200-day moving average price is $41.33.

National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.29. The company had revenue of $145.55 million for the quarter, compared to the consensus estimate of $142.83 million. National Retail Properties had a net margin of 38.03% and a return on equity of 6.08%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. On average, equities research analysts anticipate that National Retail Properties, Inc. will post $1.46 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.475 per share. The ex-dividend date was Thursday, July 27th. 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 dividend yield of 4.63%. National Retail Properties’s dividend payout ratio is 142.86%.

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Several brokerages have weighed in on NNN. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $45.67.

In other news, EVP Stephen A. Horn, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $41.11, for a total transaction of $411,100.00. Following the completion of the transaction, the executive vice president now directly owns 90,462 shares of the company’s stock, valued at $3,718,892.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle Lynn Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.28, for a total value of $80,560.00. Following the transaction, the executive vice president now directly owns 21,267 shares of the company’s stock, valued at $856,634.76. The disclosure for this sale can be found here. Insiders have sold 35,499 shares of company stock valued at $1,442,195 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

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

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