Victory Capital Management Inc. Has $302.16 Million Position in National Retail Properties, Inc. (NNN)

Victory Capital Management Inc. reduced its stake in National Retail Properties, Inc. (NYSE:NNN) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,228,728 shares of the real estate investment trust’s stock after selling 1,443,389 shares during the quarter. National Retail Properties makes up approximately 0.8% of Victory Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Victory Capital Management Inc. owned approximately 3.91% of National Retail Properties worth $302,156,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Cutler Group LP lifted its holdings in shares of National Retail Properties by 384.4% during the fourth quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 738 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in National Retail Properties by 2.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 31,632 shares of the real estate investment trust’s stock valued at $1,534,000 after acquiring an additional 613 shares in the last quarter. Chicago Equity Partners LLC lifted its stake in National Retail Properties by 59.5% in the 4th quarter. Chicago Equity Partners LLC now owns 11,325 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 4,225 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in National Retail Properties in the 4th quarter valued at approximately $94,000. Finally, BB&T Securities LLC lifted its stake in National Retail Properties by 13.3% in the 4th quarter. BB&T Securities LLC now owns 83,022 shares of the real estate investment trust’s stock valued at $4,027,000 after acquiring an additional 9,742 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Shares of NNN stock traded down $0.95 on Tuesday, hitting $52.75. 255,986 shares of the company’s stock were exchanged, compared to its average volume of 1,308,272. The company has a quick ratio of 18.01, a current ratio of 18.01 and a debt-to-equity ratio of 0.91. National Retail Properties, Inc. has a 12 month low of $36.25 and a 12 month high of $53.76. The company has a market cap of $8.46 billion, a P/E ratio of 20.77, a P/E/G ratio of 4.13 and a beta of 0.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. National Retail Properties’s dividend payout ratio is currently 78.74%.

In related news, CFO Kevin B. Habicht sold 3,606 shares of the company’s stock in a transaction on Friday, December 7th. The stock was sold at an average price of $50.73, for a total transaction of $182,932.38. Following the completion of the sale, the chief financial officer now directly owns 117,581 shares in the company, valued at approximately $5,964,884.13. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Eugene Bayer sold 4,509 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $49.58, for a total value of $223,556.22. Following the sale, the insider now owns 127,621 shares of the company’s stock, valued at $6,327,449.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,465 shares of company stock valued at $667,681. 0.78% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the company. ValuEngine raised National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. LADENBURG THALM/SH SH lowered National Retail Properties from a “buy” rating to a “neutral” rating in a research report on Monday. B. Riley boosted their price target on National Retail Properties from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 5th. Royal Bank of Canada lowered National Retail Properties from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 14th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of National Retail Properties in a report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. National Retail Properties currently has a consensus rating of “Hold” and a consensus target price of $48.00.

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National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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

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