Paradigm Financial Partners LLC lowered its holdings in National Retail Properties, Inc. (NYSE:NNN) by 11.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,143 shares of the real estate investment trust’s stock after selling 5,060 shares during the period. Paradigm Financial Partners LLC’s holdings in National Retail Properties were worth $1,788,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new stake in shares of National Retail Properties in the 2nd quarter valued at about $515,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of National Retail Properties by 8.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,827 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 311 shares in the last quarter. Xponance Inc. raised its holdings in shares of National Retail Properties by 10.9% in the 2nd quarter. Xponance Inc. now owns 20,505 shares of the real estate investment trust’s stock valued at $961,000 after acquiring an additional 2,019 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of National Retail Properties by 5.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 103,545 shares of the real estate investment trust’s stock valued at $4,854,000 after buying an additional 5,409 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of National Retail Properties during the 2nd quarter valued at about $368,000. 87.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on NNN shares. Morgan Stanley raised their price objective on National Retail Properties from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, September 7th. Wells Fargo & Company raised their price objective on National Retail Properties from $44.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, July 1st. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a report on Friday. Finally, Royal Bank of Canada started coverage on National Retail Properties in a report on Friday, September 17th. They set a “sector perform” rating and a $48.00 price objective on the stock. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $50.63.
National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.33). The company had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $177.00 million. National Retail Properties had a return on equity of 6.26% and a net margin of 36.28%. National Retail Properties’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, research analysts expect that National Retail Properties, Inc. will post 2.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Friday, July 30th were given a $0.53 dividend. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend was Thursday, July 29th. National Retail Properties’s dividend payout ratio (DPR) is currently 84.46%.
National Retail Properties Profile
National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.
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