Goldman Sachs Group Inc. Sells 149,410 Shares of National Retail Properties, Inc. (NYSE:NNN)

Goldman Sachs Group Inc. cut its position in National Retail Properties, Inc. (NYSE:NNN) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 831,570 shares of the real estate investment trust’s stock after selling 149,410 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.48% of National Retail Properties worth $44,588,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its stake in shares of National Retail Properties by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 41,500 shares of the real estate investment trust’s stock worth $2,225,000 after acquiring an additional 200 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of National Retail Properties by 1.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,595 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 200 shares during the last quarter. Wesbanco Bank Inc. grew its stake in shares of National Retail Properties by 0.6% during the fourth quarter. Wesbanco Bank Inc. now owns 34,759 shares of the real estate investment trust’s stock worth $1,864,000 after acquiring an additional 213 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services grew its stake in shares of National Retail Properties by 0.9% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 27,122 shares of the real estate investment trust’s stock worth $1,455,000 after acquiring an additional 230 shares during the last quarter. Finally, Certified Advisory Corp grew its stake in shares of National Retail Properties by 1.1% during the fourth quarter. Certified Advisory Corp now owns 29,540 shares of the real estate investment trust’s stock worth $1,584,000 after acquiring an additional 314 shares during the last quarter. Institutional investors and hedge funds own 90.31% of the company’s stock.

Shares of NYSE NNN opened at $33.17 on Thursday. The business’s 50 day moving average price is $49.55 and its 200 day moving average price is $53.88. The firm has a market cap of $5.17 billion, a P/E ratio of 21.26, a P/E/G ratio of 7.48 and a beta of 0.25. National Retail Properties, Inc. has a 52 week low of $24.04 and a 52 week high of $59.26. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.75.

National Retail Properties (NYSE:NNN) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.36). The firm had revenue of $173.40 million during the quarter, compared to analysts’ expectations of $170.70 million. National Retail Properties had a net margin of 43.34% and a return on equity of 7.70%. National Retail Properties’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, research analysts expect that National Retail Properties, Inc. will post 2.85 earnings per share for the current year.

In other National Retail Properties news, CEO Julian E. Whitehurst sold 16,103 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $48.87, for a total value of $786,953.61. Following the sale, the chief executive officer now owns 483,835 shares in the company, valued at approximately $23,645,016.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Stephen A. Horn, Jr. sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $56.27, for a total value of $1,012,860.00. Following the completion of the sale, the executive vice president now owns 133,771 shares in the company, valued at approximately $7,527,294.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,938 shares of company stock worth $2,308,719. 0.70% of the stock is owned by insiders.

NNN has been the topic of a number of research analyst reports. B. Riley restated a “hold” rating and set a $60.00 price target on shares of National Retail Properties in a research note on Wednesday, February 12th. Zacks Investment Research upgraded National Retail Properties from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. National Retail Properties currently has a consensus rating of “Hold” and an average target price of $61.00.

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

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