Bank of New York Mellon Corp boosted its stake in shares of National Retail Properties (NYSE:NNN) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,839,035 shares of the real estate investment trust’s stock after buying an additional 31,304 shares during the period. Bank of New York Mellon Corp owned 1.23% of National Retail Properties worth $71,906,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position 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 boosted its position 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 position in National Retail Properties during the first quarter valued at $122,000. Greenleaf Trust purchased a new position in National Retail Properties during the first quarter valued at $209,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in National Retail Properties during the first quarter valued at $232,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

National Retail Properties (NYSE:NNN) opened at 40.88 on Wednesday. The stock has a 50 day moving average price of $40.18 and a 200-day moving average price of $41.32. The stock has a market cap of $6.10 billion, a PE ratio of 30.71 and a beta of 0.38. National Retail Properties has a one year low of $36.45 and a one year high of $52.27.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ 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%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Equities research analysts expect that National Retail Properties will post $1.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.475 dividend. The ex-dividend date was Thursday, July 27th. 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 4.65%. National Retail Properties’s payout ratio is 142.86%.

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A number of equities analysts have recently commented on NNN shares. Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, August 2nd. BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. National Retail Properties currently has a consensus rating of “Hold” and an average price target of $45.67.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 2,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.28, for a total value of $80,560.00. Following the completion of the transaction, the executive vice president now directly owns 21,267 shares in the company, valued at approximately $856,634.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin B. Habicht sold 23,499 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $40.45, for a total value of $950,534.55. Following the completion of the transaction, the chief financial officer now owns 146,386 shares of the company’s stock, valued at $5,921,313.70. The disclosure for this sale can be found here. Insiders sold a total of 52,912 shares of company stock valued at $2,164,138 over the last quarter. 1.03% of the stock is currently owned by 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.

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

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