Insider Selling: National Retail Properties (NNN) CFO Sells 23,499 Shares of Stock
National Retail Properties (NYSE:NNN) CFO Kevin B. Habicht sold 23,499 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $40.45, for a total value of $950,534.55. Following the transaction, the chief financial officer now directly owns 146,386 shares in the company, valued at approximately $5,921,313.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of National Retail Properties (NYSE:NNN) traded down 0.44% during trading on Tuesday, hitting $40.41. The stock had a trading volume of 1,178,990 shares. The stock’s 50 day moving average is $39.75 and its 200-day moving average is $41.42. The company has a market cap of $6.03 billion, a PE ratio of 30.36 and a beta of 0.38. National Retail Properties has a 12-month low of $36.45 and a 12-month high of $52.27.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. The business had revenue of $145.55 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Analysts forecast that National Retail Properties will post $1.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.70%. This is an increase from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s payout ratio is currently 142.86%.
Several equities analysts have recently commented on NNN shares. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, August 2nd. BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.67.
Large investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of National Retail Properties during the first quarter worth approximately $122,000. Shell Asset Management Co. increased its stake in shares of National Retail Properties by 2.8% in the first quarter. Shell Asset Management Co. now owns 15,589 shares of the real estate investment trust’s stock worth $680,000 after buying an additional 421 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of National Retail Properties by 11.7% in the first quarter. Janney Montgomery Scott LLC now owns 72,467 shares of the real estate investment trust’s stock worth $3,161,000 after buying an additional 7,570 shares in the last quarter. Korea Investment CORP acquired a new stake in shares of National Retail Properties during the first quarter worth approximately $345,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of National Retail Properties during the first quarter worth approximately $250,000. 89.86% of the stock is owned by institutional investors and hedge funds.
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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