National Retail Properties, Inc. (NNN) Stake Increased by Utah Retirement Systems
Utah Retirement Systems increased its position in National Retail Properties, Inc. (NYSE:NNN) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 30,381 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Utah Retirement Systems’ holdings in National Retail Properties were worth $1,326,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of NNN. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of National Retail Properties during the first quarter worth approximately $122,000. Pinnacle Bank bought a new position in shares of National Retail Properties during the first quarter worth approximately $179,000. Greenleaf Trust bought a new position in shares of National Retail Properties during the first quarter worth approximately $209,000. Independent Advisor Alliance bought a new position in shares of National Retail Properties during the fourth quarter worth approximately $216,000. Finally, Boothbay Fund Management LLC bought a new position in shares of National Retail Properties during the fourth quarter worth approximately $231,000. Institutional investors and hedge funds own 96.31% of the company’s stock.
National Retail Properties, Inc. (NYSE NNN) traded up 0.53% during trading on Tuesday, hitting $38.20. 1,722,593 shares of the stock were exchanged. The stock’s 50 day moving average price is $40.34 and its 200 day moving average price is $42.89. The stock has a market cap of $5.70 billion, a P/E ratio of 29.54 and a beta of 0.39. National Retail Properties, Inc. has a 12 month low of $36.45 and a 12 month high of $53.60.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.27. The firm had revenue of $141.43 million during the quarter, compared to analysts’ expectations of $141.51 million. National Retail Properties had a net margin of 44.88% and a return on equity of 8.13%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. Analysts forecast that National Retail Properties, Inc. will post $1.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Wednesday, April 26th. National Retail Properties’s dividend payout ratio (DPR) is currently 130.94%.
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Separately, FBR & Co set a $52.00 target price on shares of National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. National Retail Properties has a consensus rating of “Hold” and an average target price of $52.67.
In related news, insider Julian E. Whitehurst sold 15,000 shares of National Retail Properties stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $43.76, for a total value of $656,400.00. Following the completion of the transaction, the insider now owns 271,586 shares in the company, valued at $11,884,603.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Paul Tessitore sold 20,000 shares of National Retail Properties stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $44.39, for a total transaction of $887,800.00. Following the completion of the transaction, the insider now owns 132,401 shares of the company’s stock, valued at approximately $5,877,280.39. The disclosure for this sale can be found here. Insiders sold 48,500 shares of company stock valued at $2,128,190 in the last 90 days. Company insiders own 1.25% of the company’s stock.
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.
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