First Financial Bank Trust Division grew its stake in National Retail Properties, Inc. (NYSE:NNN) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,389 shares of the real estate investment trust’s stock after purchasing an additional 1,628 shares during the period. First Financial Bank Trust Division owned approximately 0.07% of National Retail Properties worth $6,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Cornerstone Advisors Inc. grew its position 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 worth $26,000 after acquiring an additional 292 shares during the period. Pearl River Capital LLC purchased a new position in National Retail Properties in the first quarter worth approximately $34,000. Next Capital Management LLC purchased a new position in shares of National Retail Properties during the first quarter worth $51,000. CWM LLC boosted its position in shares of National Retail Properties by 157.1% during the first quarter. CWM LLC now owns 990 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 605 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of National Retail Properties during the first quarter worth $57,000. Institutional investors and hedge funds own 89.19% of the company’s stock.
In other National Retail Properties news, insider Christopher Paul Tessitore sold 2,550 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total value of $65,509.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Eugene Bayer sold 37,899 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.44, for a total value of $1,987,423.56. Following the completion of the sale, the insider now owns 95,173 shares in the company, valued at $4,990,872.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,949 shares of company stock worth $2,135,298. 0.70% of the stock is owned by insiders.
Shares of NYSE NNN traded up $0.61 during mid-day trading on Tuesday, hitting $52.51. The company had a trading volume of 1,230,389 shares, compared to its average volume of 944,957. The stock has a market cap of $8.45 billion, a P/E ratio of 19.59, a PEG ratio of 4.37 and a beta of 0.18. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.81. National Retail Properties, Inc. has a 1-year low of $42.97 and a 1-year high of $55.97. The business’s 50-day moving average price is $53.93.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.23). National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The company had revenue of $163.71 million during the quarter, compared to analyst estimates of $161.34 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that National Retail Properties, Inc. will post 2.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.515 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a yield of 3.92%. National Retail Properties’s dividend payout ratio (DPR) is currently 74.63%.
Several research firms have recently commented on NNN. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Morgan Stanley raised their price target on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, Raymond James set a $57.00 price target on National Retail Properties and gave the stock a “hold” rating in a research report on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $51.88.
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, 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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