Michelle Lynn Miller Sells 2,000 Shares of National Retail Properties (NNN) Stock
National Retail Properties (NYSE:NNN) EVP Michelle Lynn Miller sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.28, for a total value of $80,560.00. Following the transaction, the executive vice president now owns 21,267 shares of the company’s stock, valued at $856,634.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
National Retail Properties (NYSE:NNN) traded down 0.12% on Tuesday, hitting $40.50. The stock had a trading volume of 836,525 shares. The company has a market cap of $6.04 billion, a PE ratio of 30.43 and a beta of 0.38. National Retail Properties has a 12 month low of $36.45 and a 12 month high of $52.27. The company has a 50-day moving average of $39.42 and a 200 day moving average of $41.67.
National Retail Properties (NYSE:NNN) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. The firm had revenue of $145.55 million during 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 revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, analysts predict that National Retail Properties will post $1.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.475 dividend. The ex-dividend date is Thursday, July 27th. This is a positive change from National Retail Properties’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.69%. National Retail Properties’s payout ratio is currently 142.86%.
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NNN has been the subject of a number of research reports. Zacks Investment Research upgraded National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Wednesday, August 2nd. 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 given a hold rating and three have issued a buy rating to the stock. National Retail Properties has a consensus rating of “Hold” and an average target price of $45.67.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in National Retail Properties by 3.0% in the first quarter. Vanguard Group Inc. now owns 23,620,499 shares of the real estate investment trust’s stock worth $1,030,326,000 after buying an additional 689,840 shares during the period. BlackRock Inc. raised its position in National Retail Properties by 2,977.1% in the first quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock worth $771,779,000 after buying an additional 17,118,260 shares during the period. State Street Corp raised its position in National Retail Properties by 15.2% in the first quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock worth $534,055,000 after buying an additional 1,616,397 shares during the period. Victory Capital Management Inc. raised its position in National Retail Properties by 35.3% in the second quarter. Victory Capital Management Inc. now owns 3,910,662 shares of the real estate investment trust’s stock worth $152,907,000 after buying an additional 1,020,200 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in National Retail Properties by 2.6% in the second quarter. Daiwa Securities Group Inc. now owns 3,723,155 shares of the real estate investment trust’s stock worth $145,575,000 after buying an additional 95,072 shares during the period. 89.75% of the stock is currently owned by hedge funds and other 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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