Summit X LLC cut its position in National Retail Properties, Inc. (NYSE:NNN) by 6.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,170 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. Summit X LLC’s holdings in National Retail Properties were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of National Retail Properties by 24.1% during the second quarter. Victory Capital Management Inc. now owns 6,607,851 shares of the real estate investment trust’s stock worth $290,482,000 after acquiring an additional 1,282,200 shares during the last quarter. BlackRock Inc. boosted its position in shares of National Retail Properties by 4.0% during the second quarter. BlackRock Inc. now owns 21,558,636 shares of the real estate investment trust’s stock worth $947,718,000 after acquiring an additional 832,861 shares during the last quarter. Millennium Management LLC boosted its position in shares of National Retail Properties by 28.8% during the first quarter. Millennium Management LLC now owns 1,569,958 shares of the real estate investment trust’s stock worth $61,637,000 after acquiring an additional 351,489 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of National Retail Properties by 366.4% during the second quarter. Russell Investments Group Ltd. now owns 433,746 shares of the real estate investment trust’s stock worth $19,071,000 after acquiring an additional 340,740 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of National Retail Properties by 24.8% during the first quarter. Hsbc Holdings PLC now owns 1,218,414 shares of the real estate investment trust’s stock worth $47,835,000 after acquiring an additional 242,165 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of National Retail Properties from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup increased their price objective on shares of National Retail Properties from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. B. Riley increased their price objective on shares of National Retail Properties from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Janney Montgomery Scott lowered shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. National Retail Properties has a consensus rating of “Buy” and an average price target of $46.38.

NNN stock opened at $44.37 on Monday. National Retail Properties, Inc. has a 52 week low of $36.25 and a 52 week high of $46.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 3.43 and a beta of 0.18.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.26). National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The business had revenue of $155.50 million for the quarter, compared to the consensus estimate of $154.12 million. During the same quarter last year, the business earned $0.64 EPS. National Retail Properties’s revenue for the quarter was up 6.8% compared to the same quarter last year. research analysts anticipate that National Retail Properties, Inc. will post 2.68 EPS for the current fiscal year.

In other news, insider Christopher Paul Tessitore sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $45.99, for a total value of $459,900.00. Following the completion of the sale, the insider now owns 108,686 shares in the company, valued at approximately $4,998,469.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michelle Lynn Miller sold 1,750 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $45.67, for a total transaction of $79,922.50. Following the completion of the sale, the executive vice president now owns 29,947 shares of the company’s stock, valued at approximately $1,367,679.49. The disclosure for this sale can be found here. Insiders have sold 54,685 shares of company stock valued at $2,511,863 in the last quarter. 0.78% of the stock is owned by company insiders.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

Further Reading: Book Value Per Share – BVPS

Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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