Rothschild Investment Corp IL bought a new stake in National Retail Properties, Inc. (NYSE:NNN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,038 shares of the real estate investment trust’s stock, valued at approximately $538,000.
Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its stake in National Retail Properties by 3.0% in the 3rd quarter. State Street Corp now owns 14,863,122 shares of the real estate investment trust’s stock worth $838,280,000 after purchasing an additional 438,201 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of National Retail Properties by 4.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,325,564 shares of the real estate investment trust’s stock valued at $187,562,000 after purchasing an additional 140,654 shares in the last quarter. Zimmer Partners LP grew its holdings in shares of National Retail Properties by 100.9% during the 3rd quarter. Zimmer Partners LP now owns 2,008,600 shares of the real estate investment trust’s stock valued at $113,285,000 after purchasing an additional 1,008,600 shares during the last quarter. Nuveen Asset Management LLC increased its position in National Retail Properties by 10.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,795,033 shares of the real estate investment trust’s stock worth $95,155,000 after purchasing an additional 172,860 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in National Retail Properties by 10.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,338,779 shares of the real estate investment trust’s stock valued at $75,507,000 after purchasing an additional 131,691 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.
In other news, CFO Kevin B. Habicht sold 10,711 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $52.11, for a total value of $558,150.21. Following the transaction, the chief financial officer now owns 149,791 shares in the company, valued at approximately $7,805,609.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.34). The company had revenue of $168.61 million during the quarter, compared to analyst estimates of $166.93 million. National Retail Properties had a net margin of 38.62% and a return on equity of 6.93%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. As a group, sell-side analysts forecast that National Retail Properties, Inc. will post 2.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.65%. The ex-dividend date is Thursday, January 30th. National Retail Properties’s payout ratio is presently 76.87%.
A number of brokerages have recently commented on NNN. Jefferies Financial Group started coverage on National Retail Properties in a research note on Thursday, October 10th. They issued a “buy” rating and a $75.00 price target for the company. Zacks Investment Research lowered National Retail Properties from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $60.29.
National Retail Properties Profile
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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