Murphy Middleton Hinkle & Parker Inc. cut its position in National Retail Properties, Inc. (NYSE:NNN) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,271 shares of the real estate investment trust’s stock after selling 2,466 shares during the period. National Retail Properties accounts for approximately 2.0% of Murphy Middleton Hinkle & Parker Inc.’s investment portfolio, making the stock its 12th biggest holding. Murphy Middleton Hinkle & Parker Inc.’s holdings in National Retail Properties were worth $2,895,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cutler Group LP boosted its stake in National Retail Properties by 384.4% during the 4th quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 738 shares during the last quarter. ERTS Wealth Advisors LLC acquired a new position in National Retail Properties during the 4th quarter valued at about $69,000. Prime Capital Investment Advisors LLC acquired a new position in National Retail Properties during the 1st quarter valued at about $76,000. Pinnacle Bank acquired a new position in National Retail Properties during the 4th quarter valued at about $77,000. Finally, Capital Investment Advisory Services LLC acquired a new position in National Retail Properties during the 4th quarter valued at about $94,000. Institutional investors own 90.47% of the company’s stock.
In other National Retail Properties news, insider Christopher Paul Tessitore sold 23,000 shares of National Retail Properties stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $52.19, for a total transaction of $1,200,370.00. Following the transaction, the insider now owns 111,237 shares of the company’s stock, valued at approximately $5,805,459.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Eugene Bayer sold 6,743 shares of National Retail Properties stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $55.55, for a total transaction of $374,573.65. Following the transaction, the insider now directly owns 133,072 shares in the company, valued at approximately $7,392,149.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,374 shares of company stock worth $5,117,732. Insiders own 0.70% of the company’s stock.
Shares of National Retail Properties stock traded down $0.44 during mid-day trading on Wednesday, hitting $51.10. 288,964 shares of the stock were exchanged, compared to its average volume of 882,516. National Retail Properties, Inc. has a 12 month low of $36.95 and a 12 month high of $55.87. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.81. The stock has a market cap of $8.24 billion, a P/E ratio of 19.07, a P/E/G ratio of 4.42 and a beta of 0.27.
National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.46). National Retail Properties had a return on equity of 8.63% and a net margin of 46.97%. The firm had revenue of $158.83 million for the quarter, compared to the consensus estimate of $157.82 million. On average, equities analysts anticipate that National Retail Properties, Inc. will post 2.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. National Retail Properties’s dividend payout ratio is currently 74.63%.
A number of research firms have issued reports on NNN. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. B. Riley downgraded National Retail Properties from a “buy” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $55.00 in a research note on Wednesday, February 13th. LADENBURG THALM/SH SH downgraded National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Finally, Raymond James upgraded National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. National Retail Properties currently has a consensus rating of “Hold” and a consensus target price of $50.33.
National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2018, the company owned 2,969 properties in 48 states with a gross leasable area of approximately 30.5 million square feet and with a weighted average remaining lease term of 11.5 years.
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