Alliancebernstein L.P. grew its stake in National Retail Properties (NYSE:NNN) by 195.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,797 shares of the real estate investment trust’s stock after purchasing an additional 359,620 shares during the quarter. Alliancebernstein L.P. owned approximately 0.36% of National Retail Properties worth $21,262,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of National Retail Properties by 278.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,302 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 1,694 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of National Retail Properties by 1.0% in the first quarter. IHT Wealth Management LLC now owns 2,729 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 28 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of National Retail Properties by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 5,977 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 27 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new position in shares of National Retail Properties in the second quarter valued at approximately $254,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of National Retail Properties in the first quarter valued at approximately $266,000. Institutional investors own 89.36% of the company’s stock.

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Shares of National Retail Properties (NYSE:NNN) opened at 42.24 on Friday. The company’s 50-day moving average price is $41.42 and its 200-day moving average price is $40.98. National Retail Properties has a one year low of $36.45 and a one year high of $52.27. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 31.74 and a beta of 0.36.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.29). The firm had revenue of $145.55 million for 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 company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities research analysts predict that National Retail Properties will post $1.45 earnings per share for the current year.

In other news, insider Julian E. Whitehurst sold 17,413 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $41.46, for a total transaction of $721,942.98. Following the completion of the transaction, the insider now owns 294,826 shares in the company, valued at $12,223,485.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin B. Habicht sold 23,499 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $40.45, for a total value of $950,534.55. Following the transaction, the chief financial officer now owns 146,386 shares of the company’s stock, valued at approximately $5,921,313.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,912 shares of company stock valued at $2,164,138. Company insiders own 1.03% of the company’s stock.

A number of research firms have recently weighed in on NNN. Ladenburg Thalmann Financial Services upgraded National Retail Properties from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Monday, September 11th. FBR & Co restated a “buy” rating and issued a $52.00 target price on shares of National Retail Properties in a report on Thursday, September 7th. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, BidaskClub upgraded National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $45.86.

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.

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

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