World Asset Management Inc Has $455,000 Stake in National Retail Properties (NYSE:NNN)
World Asset Management Inc boosted its position in National Retail Properties (NYSE:NNN) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,644 shares of the real estate investment trust’s stock after buying an additional 437 shares during the period. World Asset Management Inc’s holdings in National Retail Properties were worth $455,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in NNN. Vanguard Group Inc. boosted 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 valued at $1,030,326,000 after buying an additional 689,840 shares in the last quarter. BlackRock Inc. boosted 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 valued at $771,779,000 after buying an additional 17,118,260 shares in the last quarter. State Street Corp boosted 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 valued at $534,055,000 after buying an additional 1,616,397 shares in the last quarter. Daiwa Securities Group Inc. boosted 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 valued at $145,575,000 after buying an additional 95,072 shares in the last quarter. Finally, PGGM Investments boosted its position in National Retail Properties by 2.4% in the second quarter. PGGM Investments now owns 2,947,029 shares of the real estate investment trust’s stock valued at $115,229,000 after buying an additional 70,000 shares in the last quarter. Institutional investors own 89.75% of the company’s stock.
Shares of National Retail Properties (NYSE:NNN) opened at 39.92 on Friday. The stock’s 50 day moving average is $39.68 and its 200 day moving average is $41.50. National Retail Properties has a 52-week low of $36.45 and a 52-week high of $52.27. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 29.99 and a beta of 0.38.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.29. The business had revenue of $145.55 million during the quarter, compared to analysts’ expectations of $142.83 million. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, equities analysts predict that National Retail Properties will post $1.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.475 dividend. The ex-dividend date is Thursday, July 27th. This is a boost 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 4.76%. National Retail Properties’s payout ratio is 142.86%.
Several equities analysts have issued reports on NNN shares. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two 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’s stock. The company has an average rating of “Hold” and an average price target of $45.67.
In other news, EVP Michelle Lynn Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $40.28, for a total value of $80,560.00. Following the completion of the sale, the executive vice president now directly owns 21,267 shares in the company, valued at $856,634.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by insiders.
National Retail Properties Company Profile
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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