Eaton Vance Management reduced its stake in shares of National Retail Properties (NYSE:NNN) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 334,691 shares of the real estate investment trust’s stock after selling 96,577 shares during the period. Eaton Vance Management owned approximately 0.22% of National Retail Properties worth $13,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Texas Permanent School Fund boosted its position in shares of National Retail Properties by 2.1% during the 2nd quarter. Texas Permanent School Fund now owns 108,887 shares of the real estate investment trust’s stock worth $4,257,000 after purchasing an additional 2,287 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of National Retail Properties by 2.8% during the 1st quarter. Shell Asset Management Co. now owns 15,589 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 421 shares in the last quarter. Credit Suisse AG boosted its position in shares of National Retail Properties by 4.3% during the 1st quarter. Credit Suisse AG now owns 450,279 shares of the real estate investment trust’s stock worth $19,641,000 after purchasing an additional 18,688 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of National Retail Properties by 14.7% during the 1st quarter. Pacer Advisors Inc. now owns 17,262 shares of the real estate investment trust’s stock worth $753,000 after purchasing an additional 2,216 shares in the last quarter. Finally, RidgeWorth Capital Management LLC boosted its position in shares of National Retail Properties by 29.2% during the 1st quarter. RidgeWorth Capital Management LLC now owns 930,050 shares of the real estate investment trust’s stock worth $40,569,000 after purchasing an additional 210,125 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Shares of National Retail Properties (NYSE:NNN) opened at 43.09 on Tuesday. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 32.37 and a beta of 0.36. The company has a 50 day moving average of $40.92 and a 200 day moving average of $41.07. National Retail Properties has a 52-week low of $36.45 and a 52-week high of $52.27.

National Retail Properties (NYSE:NNN) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $145.55 million for the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. National Retail Properties’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. Analysts predict that National Retail Properties will post $1.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.475 per share. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Thursday, July 27th. National Retail Properties’s payout ratio is presently 142.86%.

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NNN has been the topic of several research analyst reports. Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, August 2nd. FBR & Co restated a “buy” rating and set a $52.00 target price on shares of National Retail Properties in a research report on Thursday, September 7th. Finally, 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, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $45.86.

In related news, EVP Stephen A. Horn, Jr. sold 10,000 shares of National Retail Properties stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $41.11, for a total transaction of $411,100.00. Following 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 SEC, which is available through this hyperlink. Also, insider Julian E. Whitehurst sold 17,413 shares of National Retail Properties stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $41.46, for a total value of $721,942.98. Following the transaction, the insider now directly owns 294,826 shares in the company, valued at $12,223,485.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,912 shares of company stock worth $2,164,138. 1.03% of the stock is owned by corporate insiders.

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.

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

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