State of Wisconsin Investment Board Lowers Position in National Retail Properties (NNN)
State of Wisconsin Investment Board lowered its stake in shares of National Retail Properties (NYSE:NNN) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,451 shares of the real estate investment trust’s stock after selling 9,850 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of National Retail Properties worth $5,257,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of NNN. Tower Research Capital LLC TRC raised 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 during the last quarter. IHT Wealth Management LLC raised 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 during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in National Retail Properties during the first quarter valued at $122,000. Independent Advisor Alliance raised its position in National Retail Properties by 21.2% in the first quarter. Independent Advisor Alliance now owns 5,842 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 1,020 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in National Retail Properties by 8.3% in the first quarter. Meridian Wealth Management LLC now owns 5,950 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 455 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.
National Retail Properties (NNN) opened at 41.83 on Friday. 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 $40.52 and its 200-day moving average is $41.24. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 31.43 and a beta of 0.38.
National Retail Properties (NYSE:NNN) last released its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $142.83 million. During the same period in the previous year, the company earned $0.60 EPS. National Retail Properties’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts anticipate that National Retail Properties will post $1.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a dividend of $0.475 per share. The ex-dividend date was Thursday, July 27th. This represents a $1.90 annualized dividend and a dividend yield of 4.54%. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s dividend payout ratio is presently 142.86%.
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NNN has been the subject of a number of research reports. Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $45.67.
In related news, EVP Michelle Lynn Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $40.28, for a total transaction 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 filing with the SEC, which is available at this hyperlink. Also, EVP Stephen A. Horn, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $41.11, for a total value of $411,100.00. Following the transaction, the executive vice president now owns 90,462 shares of the company’s stock, valued at $3,718,892.82. The disclosure for this sale can be found here. Insiders have sold a total of 52,912 shares of company stock valued at $2,164,138 in the last ninety days. 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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