BNP Paribas Arbitrage SA increased its stake in National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 152.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,091 shares of the real estate investment trust’s stock after acquiring an additional 77,371 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.07% of National Retail Properties worth $6,157,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of NNN. Victory Capital Management Inc. grew its holdings in shares of National Retail Properties by 11.1% in the 4th quarter. Victory Capital Management Inc. now owns 7,109,790 shares of the real estate investment trust’s stock worth $341,768,000 after acquiring an additional 709,779 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of National Retail Properties by 31.0% in the third quarter. Janus Henderson Group PLC now owns 1,889,084 shares of the real estate investment trust’s stock worth $81,599,000 after buying an additional 447,035 shares during the period. Capitolis Advisors LLC acquired a new stake in shares of National Retail Properties in the third quarter worth $10,461,000. Renaissance Technologies LLC boosted its position in shares of National Retail Properties by 716.7% in the third quarter. Renaissance Technologies LLC now owns 245,000 shares of the real estate investment trust’s stock worth $10,582,000 after buying an additional 215,000 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of National Retail Properties by 8.1% in the third quarter. Geode Capital Management LLC now owns 2,853,393 shares of the real estate investment trust’s stock worth $123,238,000 after buying an additional 214,786 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.
Shares of NYSE:NNN opened at $43.48 on Friday. National Retail Properties, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $50.33. The business has a 50-day moving average of $44.58 and a two-hundred day moving average of $44.95. The stock has a market capitalization of $7.65 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.50 and a quick ratio of 1.50.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 29th will be given a $0.53 dividend. The ex-dividend date is Thursday, April 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.88%. National Retail Properties’s dividend payout ratio is currently 126.95%.
Several analysts have recently commented on the company. Raymond James decreased their target price on National Retail Properties from $55.00 to $50.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 10th. Zacks Investment Research raised National Retail Properties from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley reduced their price objective on National Retail Properties from $55.00 to $50.00 in a research report on Thursday, February 10th. Stifel Nicolaus reduced their price objective on National Retail Properties from $56.00 to $53.00 in a research report on Tuesday, May 3rd. Finally, Bank of America cut National Retail Properties from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $52.00 to $47.00 in a research report on Thursday, January 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $49.90.
About National Retail Properties (Get Rating)
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.
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