US Bancorp DE reduced its position in National Retail Properties (NYSE:NNN) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,820 shares of the real estate investment trust’s stock after selling 4,083 shares during the period. US Bancorp DE’s holdings in National Retail Properties were worth $579,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of National Retail Properties by 3.0% in the first quarter. Vanguard Group Inc. now owns 23,620,499 shares of the real estate investment trust’s stock worth $1,030,326,000 after buying an additional 689,840 shares during the last quarter. BlackRock Inc. raised its position in shares of National Retail Properties by 2,977.1% in the first quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock worth $771,779,000 after buying an additional 17,118,260 shares during the last quarter. State Street Corp raised its position in shares of National Retail Properties by 15.2% in the first quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock worth $534,055,000 after buying an additional 1,616,397 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of National Retail Properties by 41.6% in the first quarter. Victory Capital Management Inc. now owns 2,890,462 shares of the real estate investment trust’s stock worth $126,082,000 after buying an additional 848,500 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of National Retail Properties by 5.5% in the first quarter. Morgan Stanley now owns 2,698,541 shares of the real estate investment trust’s stock worth $117,711,000 after buying an additional 141,458 shares during the last quarter. Institutional investors own 89.86% of the company’s stock.

Shares of National Retail Properties (NNN) traded up 1.73% during midday trading on Wednesday, reaching $41.11. 710,663 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $39.77 and its 200 day moving average is $41.40. The firm has a market cap of $6.13 billion, a PE ratio of 30.89 and a beta of 0.38. National Retail Properties has a one year low of $36.45 and a one year high of $52.27.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. The company had revenue of $145.55 million during the quarter, compared to analysts’ expectations of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. Analysts anticipate that National Retail Properties will post $1.46 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.70%. This is a boost from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s dividend payout ratio (DPR) is currently 142.86%.

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A number of equities analysts recently weighed in on NNN shares. 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 report on Wednesday, August 2nd. BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.67.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 2,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 21,267 shares of the company’s stock, valued at $856,634.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin B. Habicht sold 23,499 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $40.45, for a total transaction of $950,534.55. Following the completion of the transaction, the chief financial officer now directly owns 146,386 shares of the company’s stock, valued at approximately $5,921,313.70. The disclosure for this sale can be found here. Company insiders own 1.03% 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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Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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