Stephen A. Horn, Jr. Sells 3,500 Shares of National Retail Properties (NNN) Stock
National Retail Properties (NYSE:NNN) EVP Stephen A. Horn, Jr. sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $42.51, for a total value of $148,785.00. Following the completion of the transaction, the executive vice president now owns 103,924 shares of the company’s stock, valued at approximately $4,417,809.24. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of National Retail Properties (NYSE:NNN) opened at 42.99 on Wednesday. National Retail Properties has a 12 month low of $37.31 and a 12 month high of $53.60. The firm’s 50-day moving average is $44.42 and its 200 day moving average is $48.26. The firm has a market capitalization of $6.32 billion, a P/E ratio of 33.98 and a beta of 0.45.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $134.54 million for the quarter, compared to analysts’ expectations of $134.35 million. National Retail Properties had a net margin of 41.61% and a return on equity of 7.44%. National Retail Properties’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. On average, equities research analysts anticipate that National Retail Properties will post $2.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Thursday, October 27th. National Retail Properties’s payout ratio is currently 144.45%.
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Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in National Retail Properties by 5.1% in the first quarter. Legal & General Group Plc now owns 301,787 shares of the real estate investment trust’s stock valued at $13,943,000 after buying an additional 14,704 shares in the last quarter. Arizona State Retirement System boosted its stake in National Retail Properties by 7.3% in the first quarter. Arizona State Retirement System now owns 72,079 shares of the real estate investment trust’s stock valued at $3,330,000 after buying an additional 4,900 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in National Retail Properties by 184.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,583 shares of the real estate investment trust’s stock valued at $1,182,000 after buying an additional 16,582 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in National Retail Properties by 94.6% in the second quarter. BNP Paribas Arbitrage SA now owns 78,533 shares of the real estate investment trust’s stock valued at $4,062,000 after buying an additional 38,175 shares in the last quarter. Finally, First Financial Bank N.A. Trust Division boosted its stake in National Retail Properties by 2.1% in the second quarter. First Financial Bank N.A. Trust Division now owns 100,784 shares of the real estate investment trust’s stock valued at $5,212,000 after buying an additional 2,090 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.
NNN has been the subject of several analyst reports. FBR & Co initiated coverage on National Retail Properties in a report on Wednesday, October 12th. They issued an “outperform” rating and a $56.00 price objective for the company. Robert W. Baird upgraded National Retail Properties from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $54.00 to $50.00 in a report on Monday, November 21st. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a report on Friday, August 5th. DA Davidson raised their price objective on National Retail Properties from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Finally, Wunderlich reduced their price target on National Retail Properties from $50.00 to $44.00 and set a “hold” rating for the company in a report on Friday, November 4th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.20.
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 held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.
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