Beacon Pointe Advisors LLC Buys 450 Shares of National Retail Properties, Inc. (NYSE:NNN)

Beacon Pointe Advisors LLC grew its stake in National Retail Properties, Inc. (NYSE:NNNGet Rating) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,032 shares of the real estate investment trust’s stock after acquiring an additional 450 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in National Retail Properties were worth $1,423,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. abrdn plc boosted its holdings in National Retail Properties by 2.0% in the first quarter. abrdn plc now owns 62,102 shares of the real estate investment trust’s stock worth $2,837,000 after acquiring an additional 1,226 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in National Retail Properties by 22.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,148 shares of the real estate investment trust’s stock valued at $815,000 after acquiring an additional 3,282 shares during the last quarter. Resources Investment Advisors LLC. purchased a new stake in National Retail Properties during the first quarter valued at $298,000. ProShare Advisors LLC increased its position in National Retail Properties by 11.0% during the first quarter. ProShare Advisors LLC now owns 551,211 shares of the real estate investment trust’s stock valued at $24,771,000 after acquiring an additional 54,537 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in National Retail Properties during the second quarter valued at $296,000. 89.44% of the stock is owned by institutional investors.

National Retail Properties Trading Down 1.2 %

Shares of NYSE NNN opened at $45.71 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.60. The business’s 50 day moving average price is $41.94 and its 200-day moving average price is $43.65. National Retail Properties, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $48.90. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.80 and a beta of 0.87.

National Retail Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were issued a $0.55 dividend. The ex-dividend date was Friday, October 28th. This represents a $2.20 annualized dividend and a dividend yield of 4.81%. National Retail Properties’s payout ratio is 125.71%.

Analyst Ratings Changes

A number of analysts have commented on NNN shares. Raymond James reduced their price target on National Retail Properties from $52.00 to $48.00 and set a “strong-buy” rating for the company in a research report on Tuesday, October 4th. StockNews.com lowered National Retail Properties from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Oppenheimer initiated coverage on National Retail Properties in a research note on Wednesday, October 19th. They set an “outperform” rating and a $48.00 price target for the company. Morgan Stanley increased their price target on National Retail Properties from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. Finally, B. Riley dropped their price target on National Retail Properties from $54.00 to $49.00 in a research note on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.30.

National Retail Properties Company Profile

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

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

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