Dimensional Fund Advisors LP Has $80.90 Million Stake in National Retail Properties (NNN)
Dimensional Fund Advisors LP grew its stake in National Retail Properties (NYSE:NNN) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,068,879 shares of the real estate investment trust’s stock after purchasing an additional 112,577 shares during the quarter. Dimensional Fund Advisors LP owned about 1.39% of National Retail Properties worth $80,895,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NNN. UBS Asset Management Americas Inc. lifted its stake in shares of National Retail Properties by 17.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 611,144 shares of the real estate investment trust’s stock valued at $26,658,000 after purchasing an additional 89,830 shares during the period. TD Asset Management Inc. increased its position in shares of National Retail Properties by 7.3% in the 1st quarter. TD Asset Management Inc. now owns 10,303 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 700 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of National Retail Properties in the 1st quarter valued at $793,000. Credit Agricole S A increased its position in shares of National Retail Properties by 29.3% in the 1st quarter. Credit Agricole S A now owns 146,014 shares of the real estate investment trust’s stock valued at $6,369,000 after buying an additional 33,085 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of National Retail Properties by 18.4% in the 1st quarter. OppenheimerFunds Inc. now owns 377,095 shares of the real estate investment trust’s stock valued at $16,449,000 after buying an additional 58,536 shares in the last quarter. 89.36% of the stock is currently owned by institutional investors.
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In related news, EVP Michelle Lynn Miller sold 2,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $40.28, for a total value of $80,560.00. Following the transaction, the executive vice president now owns 21,267 shares in the company, valued at $856,634.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Julian E. Whitehurst sold 17,413 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $41.46, for a total transaction of $721,942.98. Following the completion of the transaction, the insider now owns 294,826 shares in the company, valued at approximately $12,223,485.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,912 shares of company stock worth $2,164,138. 1.03% of the stock is owned by company insiders.
NNN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, August 2nd. Ladenburg Thalmann Financial Services upgraded shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Monday, September 11th. BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, FBR & Co restated a “buy” rating and issued a $52.00 price objective on shares of National Retail Properties in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. National Retail Properties presently has an average rating of “Hold” and a consensus target price of $47.67.
Shares of National Retail Properties (NYSE:NNN) opened at 41.70 on Friday. The company has a market cap of $6.22 billion, a PE ratio of 31.33 and a beta of 0.37. The company has a 50 day moving average of $41.93 and a 200-day moving average of $40.89. National Retail Properties has a 52-week low of $36.45 and a 52-week high of $48.03.
National Retail Properties (NYSE:NNN) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.29). The firm had revenue of $145.55 million during the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. National Retail Properties’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Analysts forecast that National Retail Properties will post $1.45 EPS for the current fiscal year.
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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