Sumitomo Mitsui DS Asset Management Company Ltd increases its stake in National Retail Properties, Inc. (NYSE: NNN)


Sumitomo Mitsui DS Asset Management Company Ltd raised its position in National Retail Properties, Inc. (NYSE: NNNGet a rating) by 19.2% in Q1, according to its most recent SEC filing. The company held 19,913 shares of the real estate investment trust after acquiring an additional 3,205 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in National Retail Properties were worth $895,000 at the end of the most recent period.

Several other hedge funds have also recently increased or reduced their stakes in the company. State Street Corp increased its stake in shares of National Retail Properties by 12.5% ​​in the fourth quarter. State Street Corp now owns 18,330,427 shares of the real estate investment trust worth $881,144,000 after acquiring an additional 2,037,833 shares during the period. Victory Capital Management Inc. increased its stake in shares of National Retail Properties by 11.1% in the fourth quarter. Victory Capital Management Inc. now owns 7,109,790 shares of the real estate investment trust valued at $341,768,000 after purchasing an additional 709,779 shares during the period. Geode Capital Management LLC increased its stake in shares of National Retail Properties by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 2,941,048 shares of the real estate investment trust valued at $141,376,000 after purchasing an additional 87,655 shares during the period. Bank of New York Mellon Corp increased its stake in shares of National Retail Properties by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 2,148,348 shares of the real estate investment trust valued at $92,787,000 after purchasing an additional 45,333 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in the shares of National Retail Properties by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,689 shares of the real estate investment trust worth $93,818,000 after purchasing an additional 67,529 shares during the period. Institutional investors hold 88.31% of the company’s shares.

Several brokerages have recently commented on NNN. Credit Suisse Group began covering the shares of National Retail Properties in a research note on Wednesday, June 22. They issued an “outperform” rating and a price target of $46.00 for the company. StockNews.com upgraded the shares of National Retail Properties from a “hold” rating to a “buy” rating in a Wednesday, May 18 research note. Stifel Nicolaus cut his price target on shares of National Retail Properties from $56.00 to $53.00 in a Tuesday, May 3 research note. Finally, Colliers Securities cut its price target on National Retail Properties stock to $49.00 and gave the company an “na” rating in a Wednesday, May 18 research report. One financial analyst has assigned the stock a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned the company’s stock a strong buy rating. According to MarketBeat, National Retail Properties currently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Shares of NYSE NNN opened at $44.49 on Friday. The company has a market capitalization of $7.83 billion, a PE ratio of 26.64, a growth price-earnings ratio of 3.46 and a beta of 0.84. National Retail Properties, Inc. has a 12-month low of $39.12 and a 12-month high of $49.99. The company has a debt ratio of 0.96, a current ratio of 1.50 and a quick ratio of 1.50. The company has a 50-day simple moving average of $43.24 and a 200-day simple moving average of $44.25.

Domestic Commercial Properties (NYSE: NNNGet a rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported EPS of $0.46 for the quarter, beating analyst consensus estimates of $0.43 by $0.03. The company posted revenue of $190.28 million in the quarter, versus a consensus estimate of $186.63 million. National Retail Properties had a net margin of 42.73% and a return on equity of 8.05%. The company’s quarterly revenue increased 5.8% compared to the same quarter last year. During the same period a year earlier, the company posted earnings per share of $0.76. On average, analysts expect National Retail Properties, Inc. to post EPS of 3.12 for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, April 29 received a dividend of $0.53 per share. The ex-dividend date was Thursday, April 28. This represents a dividend of $2.12 on an annualized basis and a dividend yield of 4.77%. National Retail Properties’ dividend payout ratio (DPR) is currently 126.95%.

About Domestic Commercial Properties (Get a rating)

National Retail Properties invests primarily in high quality commercial properties generally subject to long-term net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with gross leasable area of ​​approximately 32.4 million square feet and a weighted average remaining lease term of 10.7 years.

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Institutional Property by Quarter for Domestic Commercial Properties (NYSE:NNN)



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