Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys Shares of 41,527 National Retail Properties, Inc. (NNN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in National Retail Properties, Inc. (NYSE:NNN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 41,527 shares of the real estate investment trust’s stock, valued at approximately $1,826,000.

A number of other institutional investors have also recently modified their holdings of NNN. Asset Advisors Corp bought a new position in National Retail Properties in the 2nd quarter worth $110,000. Ostrum Asset Management bought a new position in National Retail Properties in the 1st quarter worth $232,000. GWM Advisors LLC bought a new position in National Retail Properties in the 1st quarter worth $276,000. Robeco Institutional Asset Management B.V. boosted its holdings in National Retail Properties by 284.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 7,496 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 5,546 shares during the period. Finally, Hartford Investment Management Co. bought a new position in National Retail Properties in the 2nd quarter worth $298,000. 89.87% of the stock is owned by institutional investors.

NNN opened at $45.53 on Friday. National Retail Properties, Inc. has a 52 week low of $36.25 and a 52 week high of $46.11. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 3.48 and a beta of 0.28. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.26). National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The company had revenue of $155.50 million for the quarter, compared to the consensus estimate of $154.12 million. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. sell-side analysts forecast that National Retail Properties, Inc. will post 2.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Tuesday, July 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Monday, July 30th. This is an increase from National Retail Properties’s previous quarterly dividend of $0.48. National Retail Properties’s dividend payout ratio is 78.74%.

Several research analysts recently weighed in on NNN shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 target price on shares of National Retail Properties in a report on Wednesday, August 1st. B. Riley increased their price objective on shares of National Retail Properties from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research downgraded shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Janney Montgomery Scott downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Finally, Citigroup increased their price objective on shares of National Retail Properties from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $46.50.

In other news, CFO Kevin B. Habicht sold 22,287 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $41.84, for a total transaction of $932,488.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Paul Tessitore sold 16,939 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $41.62, for a total transaction of $705,001.18. Following the sale, the insider now owns 118,686 shares in the company, valued at $4,939,711.32. The disclosure for this sale can be found here. Insiders have sold a total of 40,976 shares of company stock valued at $1,717,412 in the last three months. Insiders own 0.78% of the company’s stock.

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, 2018, the company owned 2,800 properties in 48 states with a gross leasable area of approximately 29.1 million square feet and with a weighted average remaining lease term of 11.4 years.

Further Reading: Market Capitalization – What it Means for Investors

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

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