Adelante Capital Management LLC Sells 16,586 Shares of National Retail Properties, Inc. (NNN)
Adelante Capital Management LLC decreased its position in National Retail Properties, Inc. (NYSE:NNN) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,028 shares of the real estate investment trust’s stock after selling 16,586 shares during the period. Adelante Capital Management LLC owned about 0.15% of National Retail Properties worth $10,508,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC raised its holdings in National Retail Properties by 119.6% in the 2nd quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 1,346 shares in the last quarter. Asset Advisors Corp acquired a new position in National Retail Properties in the 2nd quarter valued at approximately $110,000. Gradient Investments LLC raised its holdings in National Retail Properties by 7,526.0% in the 2nd quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 3,763 shares in the last quarter. Independent Advisor Alliance acquired a new position in National Retail Properties in the 2nd quarter valued at approximately $220,000. Finally, NumerixS Investment Technologies Inc raised its holdings in National Retail Properties by 29.5% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,700 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 1,299 shares in the last quarter. 90.84% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on NNN. Wells Fargo & Co set a $50.00 price target on National Retail Properties and gave the company a “buy” rating in a report on Tuesday, September 4th. Citigroup increased their target price on National Retail Properties from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, July 4th. Janney Montgomery Scott cut National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Finally, B. Riley increased their target price on National Retail Properties from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. National Retail Properties currently has an average rating of “Buy” and an average price target of $46.25.
Shares of NNN opened at $45.87 on Tuesday. National Retail Properties, Inc. has a 1 year low of $36.25 and a 1 year high of $46.44. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $7.18 billion, a PE ratio of 18.06, a P/E/G ratio of 3.54 and a beta of 0.18.
National Retail Properties (NYSE:NNN) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.26). National Retail Properties had a return on equity of 9.50% and a net margin of 50.66%. The company had revenue of $155.50 million during the quarter, compared to analyst estimates of $154.12 million. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. equities research analysts expect that National Retail Properties, Inc. will post 2.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, July 30th. This is a boost from National Retail Properties’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.36%. National Retail Properties’s dividend payout ratio is presently 78.74%.
National Retail Properties Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.
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