BB&T Investment Services Inc. Invests $212,000 in National Retail Properties (NNN) Stock

BB&T Investment Services Inc. purchased a new position in National Retail Properties (NYSE:NNN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,375 shares of the real estate investment trust’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its stake in National Retail Properties by 2.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 58,530 shares of the real estate investment trust’s stock worth $2,288,000 after purchasing an additional 1,227 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in National Retail Properties by 44.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 148,767 shares of the real estate investment trust’s stock worth $5,817,000 after purchasing an additional 45,927 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in National Retail Properties by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 220,034 shares of the real estate investment trust’s stock worth $8,604,000 after purchasing an additional 5,657 shares in the last quarter. BlueCrest Capital Management Ltd increased its stake in National Retail Properties by 976.5% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 169,300 shares of the real estate investment trust’s stock worth $6,620,000 after purchasing an additional 153,573 shares in the last quarter. Finally, State Street Corp increased its stake in National Retail Properties by 1.5% in the 2nd quarter. State Street Corp now owns 12,427,839 shares of the real estate investment trust’s stock worth $485,929,000 after purchasing an additional 184,603 shares in the last quarter. 89.37% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Julian E. Whitehurst sold 17,413 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $41.46, for a total transaction of $721,942.98. Following the sale, the insider now owns 294,826 shares of the company’s stock, valued at $12,223,485.96. 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 10,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $41.11, for a total value of $411,100.00. Following the sale, the executive vice president now directly owns 90,462 shares in the company, valued at approximately $3,718,892.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,912 shares of company stock worth $2,164,138. 1.03% of the stock is currently owned by insiders.

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A number of brokerages recently weighed in on NNN. Ladenburg Thalmann Financial Services raised National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Monday, September 11th. FBR & Co reissued a “buy” rating and issued a $52.00 price target on shares of National Retail Properties in a research note on Thursday, September 7th. Finally, Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.00.

National Retail Properties (NYSE NNN) traded up 1.18% during trading on Friday, reaching $42.72. The company’s stock had a trading volume of 95,073 shares. The firm has a market cap of $6.38 billion, a P/E ratio of 32.10 and a beta of 0.37. The stock’s 50 day moving average is $42.05 and its 200-day moving average is $40.83. National Retail Properties has a 52 week low of $36.45 and a 52 week high of $48.03.

National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.29). The business had revenue of $145.55 million for the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, equities research analysts forecast that National Retail Properties will post $1.45 earnings per share for the current fiscal year.

About National Retail Properties

National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.

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

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