Pendal Group Ltd purchased a new position in National Retail Properties, Inc. (NYSE:NNN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,300 shares of the real estate investment trust’s stock, valued at approximately $1,537,000.

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in National Retail Properties by 3.3% during the first quarter. Principal Financial Group Inc. now owns 671,423 shares of the real estate investment trust’s stock worth $26,360,000 after buying an additional 21,390 shares during the period. DnB Asset Management AS increased its position in National Retail Properties by 13.5% during the second quarter. DnB Asset Management AS now owns 15,925 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 1,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in National Retail Properties by 8.8% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,302 shares of the real estate investment trust’s stock worth $2,783,000 after buying an additional 5,115 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in National Retail Properties during the second quarter worth approximately $308,000. Finally, Fox Run Management L.L.C. acquired a new position in National Retail Properties during the second quarter worth approximately $887,000. Institutional investors and hedge funds own 91.02% of the company’s stock.

Shares of NNN stock opened at $49.15 on Friday. National Retail Properties, Inc. has a twelve month low of $36.25 and a twelve month high of $49.28. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 3.96 and a beta of 0.03. The company has a current ratio of 18.01, a quick ratio of 18.01 and a debt-to-equity ratio of 0.91.

National Retail Properties (NYSE:NNN) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.20). National Retail Properties had a net margin of 53.44% and a return on equity of 9.91%. The company had revenue of $155.33 million during the quarter, compared to analysts’ expectations of $156.04 million. During the same quarter last year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that National Retail Properties, Inc. will post 2.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. National Retail Properties’s dividend payout ratio (DPR) is currently 78.74%.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 10,000 shares of National Retail Properties stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $45.99, for a total value of $459,900.00. Following the transaction, the insider now directly owns 108,686 shares in the company, valued at approximately $4,998,469.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin B. Habicht sold 16,805 shares of National Retail Properties stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $45.73, for a total value of $768,492.65. Following the completion of the transaction, the chief financial officer now owns 121,187 shares in the company, valued at $5,541,881.51. The disclosure for this sale can be found here. Insiders sold a total of 52,935 shares of company stock worth $2,431,940 over the last quarter. Company insiders own 1.03% of the company’s stock.

Several research analysts have commented on NNN shares. Wells Fargo & Co set a $50.00 price target on National Retail Properties and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Stifel Nicolaus lifted their price target on National Retail Properties from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. LADENBURG THALM/SH SH set a $48.00 price target on National Retail Properties and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research raised National Retail Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine raised National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $48.00.

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About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

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

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