Independent Advisor Alliance Takes $220,000 Position in National Retail Properties, Inc. (NNN)

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Independent Advisor Alliance purchased a new stake in shares of National Retail Properties, Inc. (NYSE:NNN) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,005 shares of the real estate investment trust’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of National Retail Properties by 3.3% during the first quarter. BlackRock Inc. now owns 20,725,775 shares of the real estate investment trust’s stock valued at $813,695,000 after buying an additional 652,875 shares during the period. Victory Capital Management Inc. increased its position in shares of National Retail Properties by 24.1% during the second quarter. Victory Capital Management Inc. now owns 6,607,851 shares of the real estate investment trust’s stock valued at $290,482,000 after buying an additional 1,282,200 shares during the period. Royal Bank of Canada increased its position in shares of National Retail Properties by 2.5% during the first quarter. Royal Bank of Canada now owns 4,467,011 shares of the real estate investment trust’s stock valued at $175,375,000 after buying an additional 107,639 shares during the period. Daiwa Securities Group Inc. increased its position in shares of National Retail Properties by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 4,267,848 shares of the real estate investment trust’s stock valued at $187,614,000 after buying an additional 14,500 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of National Retail Properties by 1.7% during the first quarter. JPMorgan Chase & Co. now owns 3,843,070 shares of the real estate investment trust’s stock valued at $150,879,000 after buying an additional 64,552 shares during the period. Institutional investors own 90.27% of the company’s stock.

Several equities analysts recently issued reports on NNN shares. B. Riley reduced their price target on shares of National Retail Properties from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $46.00 price target on shares of National Retail Properties in a research report on Wednesday, August 1st. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, July 4th. Citigroup boosted their price target on shares of National Retail Properties from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. Finally, Capital One Financial cut shares of National Retail Properties from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $46.50.

Shares of NNN opened at $45.87 on Wednesday. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 3.56 and a beta of 0.28. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.57 and a current ratio of 1.57. National Retail Properties, Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $46.28.

National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.26). The business had revenue of $155.50 million during the quarter, compared to analysts’ expectations of $154.12 million. National Retail Properties had a return on equity of 9.50% and a net margin of 50.66%. National Retail Properties’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. equities analysts predict that National Retail Properties, Inc. will post 2.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Tuesday, July 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Monday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.48. National Retail Properties’s dividend payout ratio is 78.74%.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 16,939 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $41.62, for a total value of $705,001.18. Following the sale, the insider now owns 118,686 shares in the company, valued at $4,939,711.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michelle Lynn Miller sold 1,750 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $45.67, for a total transaction of $79,922.50. Following the completion of the sale, the executive vice president now owns 29,947 shares in the company, valued at approximately $1,367,679.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,976 shares of company stock worth $1,717,412. Corporate insiders own 0.78% of the company’s stock.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2018, the company owned 2,800 properties in 48 states with a gross leasable area of approximately 29.1 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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