National Retail Properties (NNN) Holdings Cut by Davidson & Garrard Inc.

Davidson & Garrard Inc. lowered its stake in shares of National Retail Properties (NYSE:NNN) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,424 shares of the real estate investment trust’s stock after selling 2,199 shares during the quarter. Davidson & Garrard Inc. owned about 0.06% of National Retail Properties worth $4,017,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NNN. FMR LLC boosted its position in National Retail Properties by 49.2% during the second quarter. FMR LLC now owns 3,152,173 shares of the real estate investment trust’s stock worth $123,249,000 after purchasing an additional 1,039,236 shares during the period. Victory Capital Management Inc. boosted its position in National Retail Properties by 35.3% during the second quarter. Victory Capital Management Inc. now owns 3,910,662 shares of the real estate investment trust’s stock worth $152,907,000 after purchasing an additional 1,020,200 shares during the period. BlackRock Inc. boosted its position in National Retail Properties by 5.2% during the second quarter. BlackRock Inc. now owns 18,622,086 shares of the real estate investment trust’s stock worth $728,123,000 after purchasing an additional 928,820 shares during the period. Alliancebernstein L.P. boosted its position in National Retail Properties by 195.3% during the second quarter. Alliancebernstein L.P. now owns 543,797 shares of the real estate investment trust’s stock worth $21,262,000 after purchasing an additional 359,620 shares during the period. Finally, APG Asset Management US Inc. boosted its position in National Retail Properties by 19.6% during the second quarter. APG Asset Management US Inc. now owns 1,819,300 shares of the real estate investment trust’s stock worth $71,135,000 after purchasing an additional 297,530 shares during the period. 87.57% of the stock is owned by hedge funds and other institutional investors.

Shares of National Retail Properties (NNN) traded down $0.02 during mid-day trading on Wednesday, hitting $42.53. The stock had a trading volume of 928,100 shares, compared to its average volume of 1,101,527. National Retail Properties has a one year low of $36.45 and a one year high of $46.34. The firm has a market capitalization of $6,469.87, a price-to-earnings ratio of 16.89, a PEG ratio of 3.49 and a beta of 0.40. The company has a current ratio of 7.66, a quick ratio of 7.66 and a debt-to-equity ratio of 0.86.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. National Retail Properties had a return on equity of 8.47% and a net margin of 44.96%. The company had revenue of $147.71 million during the quarter, compared to analyst estimates of $146.57 million. During the same period in the previous year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. equities analysts expect that National Retail Properties will post 2.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.47%. National Retail Properties’s dividend payout ratio (DPR) is presently 135.72%.

In related news, insider Julian E. Whitehurst sold 17,413 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $41.46, for a total value of $721,942.98. Following the completion of the transaction, the insider now directly owns 294,826 shares in the company, valued at $12,223,485.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen A. Horn, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $41.11, for a total value of $411,100.00. Following the completion of the transaction, the executive vice president now owns 90,462 shares of the company’s stock, valued at $3,718,892.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 827,413 shares of company stock valued at $1,168,043. Corporate insiders own 1.03% of the company’s stock.

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A number of brokerages have issued reports on NNN. B. Riley reaffirmed a “buy” rating on shares of National Retail Properties in a research report on Friday, November 3rd. UBS AG raised National Retail Properties from a “sell” rating to a “neutral” rating and upped their target price for the stock from $36.00 to $42.00 in a research report on Thursday, November 9th. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of National Retail Properties in a report on Thursday, November 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $46.00 price target on shares of National Retail Properties in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.71.

National Retail Properties Company Profile

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.

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

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