Daiwa Securities Group Inc. Sells 1,099,565 Shares of National Retail Properties, Inc. (NNN)

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Daiwa Securities Group Inc. lowered its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 26.9% in the 4th quarter, Holdings Channel reports. The fund owned 2,988,974 shares of the real estate investment trust’s stock after selling 1,099,565 shares during the period. National Retail Properties comprises 1.4% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 21st biggest holding. Daiwa Securities Group Inc.’s holdings in National Retail Properties were worth $144,995,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Advisors Investment Management LLC bought a new position in shares of National Retail Properties during the third quarter worth about $112,000. Nomura Asset Management Co. Ltd. lifted its holdings in National Retail Properties by 63.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 222,670 shares of the real estate investment trust’s stock worth $9,980,000 after purchasing an additional 86,310 shares during the period. Macquarie Group Ltd. lifted its holdings in National Retail Properties by 14.5% in the third quarter. Macquarie Group Ltd. now owns 397,489 shares of the real estate investment trust’s stock worth $17,815,000 after purchasing an additional 50,330 shares during the period. Andra AP fonden lifted its holdings in National Retail Properties by 21.1% in the third quarter. Andra AP fonden now owns 155,700 shares of the real estate investment trust’s stock worth $6,978,000 after purchasing an additional 27,100 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in National Retail Properties by 1.7% in the third quarter. Mutual of America Capital Management LLC now owns 134,324 shares of the real estate investment trust’s stock worth $6,020,000 after purchasing an additional 2,219 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

In other National Retail Properties news, insider Paul Eugene Bayer sold 4,509 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $49.58, for a total value of $223,556.22. Following the completion of the sale, the insider now directly owns 127,621 shares of the company’s stock, valued at approximately $6,327,449.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin B. Habicht sold 3,606 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $50.73, for a total transaction of $182,932.38. Following the completion of the sale, the chief financial officer now directly owns 117,581 shares of the company’s stock, valued at $5,964,884.13. The disclosure for this sale can be found here. Insiders sold a total of 13,465 shares of company stock valued at $667,681 over the last three months. 0.78% of the stock is owned by corporate insiders.

Shares of NYSE NNN opened at $53.18 on Monday. National Retail Properties, Inc. has a twelve month low of $36.25 and a twelve month high of $53.76. The company has a debt-to-equity ratio of 0.91, a current ratio of 18.01 and a quick ratio of 18.01. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 4.13 and a beta of 0.31.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, January 30th. National Retail Properties’s payout ratio is 78.74%.

Several research firms recently weighed in on NNN. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Stifel Nicolaus reaffirmed a “buy” rating on shares of National Retail Properties in a report on Monday, December 3rd. B. Riley upped their price objective on shares of National Retail Properties from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 5th. Raymond James raised shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. Finally, Royal Bank of Canada downgraded shares of National Retail Properties from an “outperform” rating to a “sector perform” rating in a report on Friday, December 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $48.00.

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National Retail Properties Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 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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