Public Employees Retirement System of Ohio boosted its holdings in National Retail Properties, Inc. (NYSE:NNN) by 9.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,003 shares of the real estate investment trust’s stock after acquiring an additional 5,549 shares during the period. Public Employees Retirement System of Ohio’s holdings in National Retail Properties were worth $3,552,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its holdings in National Retail Properties by 170.8% in the first quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 292 shares during the last quarter. JJJ Advisors Inc. acquired a new position in National Retail Properties during the second quarter worth $31,000. Cascade Investment Advisors Inc. acquired a new position in National Retail Properties during the second quarter worth $32,000. TRUE Private Wealth Advisors acquired a new position in National Retail Properties during the second quarter worth $53,000. Finally, Cutler Group LP lifted its stake in National Retail Properties by 60.6% during the first quarter. Cutler Group LP now owns 1,494 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 564 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
In other news, EVP Michelle Lynn Miller sold 1,700 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total transaction of $94,248.00. Following the sale, the executive vice president now owns 39,454 shares of the company’s stock, valued at $2,187,329.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
Shares of National Retail Properties stock traded down $1.34 during trading hours on Friday, reaching $53.05. 830,177 shares of the company were exchanged, compared to its average volume of 1,176,907. National Retail Properties, Inc. has a 1 year low of $42.97 and a 1 year high of $57.80. The stock’s fifty day moving average is $54.65 and its 200 day moving average is $53.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $8.89 billion, a PE ratio of 19.79, a PEG ratio of 6.41 and a beta of 0.13.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The company had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $163.73 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Research analysts expect that National Retail Properties, Inc. will post 2.74 earnings per share for the current year.
A number of research analysts have commented on the company. Raymond James set a $57.00 price target on National Retail Properties and gave the stock a “hold” rating in a research note on Monday, May 20th. Wells Fargo & Co set a $62.00 price target on National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. ValuEngine cut National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price target on National Retail Properties from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.14.
National Retail Properties Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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