Xponance Inc. sells 366 shares of National Retail Properties, Inc. (NYSE: NNN)
Xponance Inc. reduced its position in shares of National Retail Properties, Inc. (NYSE: NNN – Get a rating) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The fund held 19,185 shares of the real estate investment trust after selling 366 shares during the period. Xponance Inc.’s holdings in National Retail Properties were worth $862,000 when it last filed with the SEC.
A number of other institutional investors have also recently bought and sold shares of NNN. State Street Corp increased its position in 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 valued at $881,144,000 after acquiring an additional 2,037,833 shares last quarter. Victory Capital Management Inc. increased its holdings of National Retail Properties shares by 11.1% during the fourth quarter. Victory Capital Management Inc. now owns 7,109,790 shares of the real estate investment trust worth $341,768,000 after purchasing an additional 709,779 shares in the last quarter. Paradigm Financial Partners LLC increased its holdings of National Retail Properties shares by 572.5% during the fourth quarter. Paradigm Financial Partners LLC now owns 242,893 shares of the real estate investment trust worth $11,428,000 after purchasing an additional 206,775 shares in the last quarter. Invesco Ltd. increased its holdings of National Retail Properties shares by 29.1% during the fourth quarter. Invesco Ltd. now owns 713,242 shares of the real estate investment trust valued at $34,285,000 after purchasing an additional 160,574 shares in the last quarter. Finally, the Canada Pension Plan Investment Board increased its holdings of National Retail Properties shares by 601.8% during the fourth quarter. The Canada Pension Plan Investment Board now owns 154,400 shares of the real estate investment trust worth $7,422,000 after buying an additional 132,400 shares in the last quarter. 88.31% of the shares are currently held by institutional investors and hedge funds.
Shares of NYSE NNN opened at $44.11 on Wednesday. National Retail Properties, Inc. has a 12-month low of $39.12 and a 12-month high of $49.99. The company has a market capitalization of $7.76 billion, a P/E ratio of 26.41, a PEG ratio of 3.52 and a beta of 0.81. The company has a 50-day moving average of $43.17 and a 200-day moving average of $44.22. The company has a quick ratio of 1.50, a current ratio of 1.50 and a leverage ratio of 0.96.
Domestic Commercial Properties (NYSE: NNN – Get a rating) last reported 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. National Retail Properties had a net margin of 42.73% and a return on equity of 8.05%. The company posted revenue of $190.28 million in the quarter, versus a consensus estimate of $186.63 million. In the same quarter a year earlier, the company posted EPS of $0.76. The company’s revenue increased 5.8% year-over-year. As a group, stock analysts expect National Retail Properties, Inc. to post earnings per share of 3.12 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Friday, April 29 received a dividend of $0.53. This represents a dividend of $2.12 on an annualized basis and a yield of 4.81%. The ex-dividend date was Thursday, April 28. National Retail Properties’ dividend payout ratio (DPR) is currently 126.95%.
Several equity analysts have recently published reports on the stock. Stifel Nicolaus lowered his price target on shares of National Retail Properties from $56.00 to $53.00 in a Tuesday, May 3 report. Colliers Securities lowered its target price on shares of National Retail Properties to $49.00 and set an “na” rating for the company in a Wednesday, May 18 report. StockNews.com upgraded the shares of National Retail Properties from a “hold” rating to a “buy” rating in a Wednesday, May 18, report. Finally, Credit Suisse Group began covering the shares of National Retail Properties in a report on Wednesday, June 22. They issued an “outperform” rating and a price target of $46.00 for the company. One financial analyst gave the stock a sell rating, two gave the company a hold rating, three gave the stock a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.44.
National Commercial Properties Company Profile (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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