Tandem Investment Advisors Inc. lessened its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 46.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,061 shares of the real estate investment trust’s stock after selling 202,211 shares during the quarter. Tandem Investment Advisors Inc. owned approximately 0.14% of National Retail Properties worth $8,411,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NNN. Key Financial Inc bought a new stake in National Retail Properties during the 1st quarter valued at $26,000. Cornerstone Advisors Inc. boosted its position in National Retail Properties by 58.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 778 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of National Retail Properties by 111.4% during the 4th quarter. Quadrant Capital Group LLC now owns 854 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 450 shares during the last quarter. CWM LLC lifted its holdings in shares of National Retail Properties by 161.0% during the 1st quarter. CWM LLC now owns 1,271 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 784 shares during the last quarter. Finally, Ameritas Investment Company LLC purchased a new stake in shares of National Retail Properties during the 1st quarter valued at $41,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.
NNN has been the subject of several analyst reports. B. Riley increased their price objective on National Retail Properties from $43.00 to $49.00 in a report on Wednesday, June 10th. Morgan Stanley reduced their target price on National Retail Properties from $56.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Zacks Investment Research lowered National Retail Properties from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Wells Fargo & Co raised their target price on National Retail Properties from $37.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Finally, ValuEngine upgraded National Retail Properties from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $46.63.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $174.35 million. National Retail Properties had a return on equity of 7.10% and a net margin of 40.44%. National Retail Properties’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. On average, equities analysts anticipate that National Retail Properties, Inc. will post 2.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.52 per share. This is an increase from National Retail Properties’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Thursday, July 30th. National Retail Properties’s dividend payout ratio (DPR) is currently 75.36%.
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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