National Retail Properties (NNN) CFO Sells $950,534.55 in Stock
National Retail Properties (NYSE:NNN) CFO Kevin B. Habicht sold 23,499 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $40.45, for a total value of $950,534.55. Following the transaction, the chief financial officer now owns 146,386 shares of the company’s stock, valued at $5,921,313.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of National Retail Properties (NNN) traded down 0.44% during mid-day trading on Tuesday, reaching $40.41. The company had a trading volume of 1,178,990 shares. The company has a market capitalization of $6.03 billion, a PE ratio of 30.36 and a beta of 0.38. National Retail Properties has a 1-year low of $36.45 and a 1-year high of $52.27. The stock’s 50-day moving average price is $39.75 and its 200 day moving average price is $41.42.
National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. The company had revenue of $145.55 million for the quarter, compared to analyst estimates of $142.83 million. National Retail Properties had a return on equity of 8.22% and a net margin of 44.17%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Equities analysts expect that National Retail Properties will post $1.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.90 dividend on an annualized basis and a yield of 4.70%. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. National Retail Properties’s payout ratio is 142.86%.
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A number of research firms have recently commented on NNN. Zacks Investment Research downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.67.
A number of institutional investors have recently added to or reduced their stakes in NNN. Texas Permanent School Fund raised its position in National Retail Properties by 2.1% in the second quarter. Texas Permanent School Fund now owns 108,887 shares of the real estate investment trust’s stock worth $4,257,000 after buying an additional 2,287 shares during the period. Shell Asset Management Co. raised its position in National Retail Properties by 2.8% in the first quarter. Shell Asset Management Co. now owns 15,589 shares of the real estate investment trust’s stock worth $680,000 after buying an additional 421 shares during the period. Private Trust Co. NA raised its position in National Retail Properties by 0.7% in the first quarter. Private Trust Co. NA now owns 9,242 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 61 shares during the period. Credit Suisse AG raised its position in National Retail Properties by 4.3% in the first quarter. Credit Suisse AG now owns 450,279 shares of the real estate investment trust’s stock worth $19,641,000 after buying an additional 18,688 shares during the period. Finally, Pacer Advisors Inc. raised its position in National Retail Properties by 14.7% in the first quarter. Pacer Advisors Inc. now owns 17,262 shares of the real estate investment trust’s stock worth $753,000 after buying an additional 2,216 shares during the period. 89.86% of the stock is currently owned by institutional investors.
About National Retail Properties
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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