Denali Advisors LLC Purchases New Position in National Retail Properties, Inc. (NYSE:NNN)

Denali Advisors LLC purchased a new stake in National Retail Properties, Inc. (NYSE:NNN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 58,300 shares of the real estate investment trust’s stock, valued at approximately $3,288,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of National Retail Properties by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 5,826,166 shares of the real estate investment trust’s stock valued at $308,321,000 after acquiring an additional 78,974 shares during the period. FMR LLC raised its stake in shares of National Retail Properties by 17.6% in the first quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after purchasing an additional 581,343 shares in the last quarter. PGGM Investments raised its stake in shares of National Retail Properties by 369.6% in the second quarter. PGGM Investments now owns 3,164,375 shares of the real estate investment trust’s stock valued at $167,744,000 after purchasing an additional 2,490,524 shares in the last quarter. Northern Trust Corp raised its stake in shares of National Retail Properties by 7.6% in the second quarter. Northern Trust Corp now owns 2,217,110 shares of the real estate investment trust’s stock valued at $117,528,000 after purchasing an additional 156,714 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of National Retail Properties by 3.0% in the second quarter. Wells Fargo & Company MN now owns 2,172,247 shares of the real estate investment trust’s stock valued at $115,151,000 after purchasing an additional 64,202 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

National Retail Properties stock remained flat at $$56.73 during mid-day trading on Wednesday. The company’s stock had a trading volume of 373,388 shares, compared to its average volume of 981,736. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83. The business has a fifty day moving average of $55.67 and a two-hundred day moving average of $54.08. National Retail Properties, Inc. has a 1 year low of $42.97 and a 1 year high of $57.80. The company has a market capitalization of $9.31 billion, a P/E ratio of 21.17, a PEG ratio of 6.71 and a beta of 0.10.

National Retail Properties (NYSE:NNN) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.25). National Retail Properties had a return on equity of 7.88% and a net margin of 43.14%. The company had revenue of $164.80 million for the quarter, compared to analyst estimates of $163.73 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. Research analysts anticipate that National Retail Properties, Inc. will post 2.74 earnings per share for the current year.

A number of research analysts recently commented on NNN shares. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine lowered National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co set a $62.00 target price on National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley upped their target price on National Retail Properties from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus upped their target price on National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $57.83.

In other news, EVP Michelle Lynn Miller sold 1,700 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $55.44, for a total transaction of $94,248.00. Following the sale, the executive vice president now owns 39,454 shares in the company, valued at $2,187,329.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

National Retail Properties Company Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 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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