Julian E. Whitehurst Sells 17,413 Shares of National Retail Properties (NNN) Stock
National Retail Properties (NYSE:NNN) insider Julian E. Whitehurst sold 17,413 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of National Retail Properties (NNN) traded up 1.02% during trading on Friday, reaching $41.57. The company’s stock had a trading volume of 935,248 shares. National Retail Properties has a 1-year low of $36.45 and a 1-year high of $52.27. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 31.23 and a beta of 0.38. The company’s 50-day moving average price is $40.09 and its 200 day moving average price is $41.33.
National Retail Properties (NYSE:NNN) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.62 by $0.29. The firm 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Analysts anticipate that National Retail Properties will post $1.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 4.57%. National Retail Properties’s payout ratio is presently 142.86%.
NNN has been the topic of several research reports. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Wednesday, August 2nd. BidaskClub raised 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. The stock presently has a consensus rating of “Hold” and an average target price of $45.67.
Institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund boosted its position in National Retail Properties by 2.1% in the second quarter. Texas Permanent School Fund now owns 108,887 shares of the real estate investment trust’s stock worth $4,257,000 after buying an additional 2,287 shares in the last quarter. Shell Asset Management Co. boosted 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 worth $680,000 after buying an additional 421 shares in the last quarter. Credit Suisse AG boosted its position in National Retail Properties by 4.3% in the first quarter. Credit Suisse AG now owns 450,279 shares of the real estate investment trust’s stock worth $19,641,000 after buying an additional 18,688 shares in the last quarter. Pacer Advisors Inc. boosted its position in National Retail Properties by 14.7% in the first quarter. Pacer Advisors Inc. now owns 17,262 shares of the real estate investment trust’s stock worth $753,000 after buying an additional 2,216 shares in the last quarter. Finally, Nationwide Fund Advisors boosted 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 worth $10,723,000 after buying an additional 1,618 shares in the last quarter. Institutional investors and hedge funds own 89.86% of the company’s stock.
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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